The South San Francisco, Calif., development-stage company said
it had licensed a portfolio that included the potential treatment and
other molecules to Pfizer in 2005. Pfizer is now returning rights to the
program after deciding to leave research on allergy and respiratory
therapies.
The molecule, labeled R343, will become Rigel's most advanced
in-house project. It said it will develop a midstage clinical trial for
R343 later this year.
Rigel said Tuesday its first-quarter loss narrowed to $20.8
million, or 40 cents per share, on lower costs. That compares with a net
loss of $22.3 million, or 43 cents per share, a year earlier.
The company reported no contract revenue during the quarter, compared with $3.3 million a year earlier.
