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Article: RIGEL'S STOCK LEAPS ON R112 PHASE II ALLERGIC RHINITIS DATA.
- Article from:
- BIOWORLD Today
- Article date:
- August 3, 2004
- Author:
CopyrightCOPYRIGHT 2004 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kim Coghill, Washington Editor
Rigel Pharmaceuticals Inc.'s stock soared 37.7 percent Monday after the company released favorable news from a Phase II study evaluating the use of R112 in allergic rhinitis.
The company's shares (NASDAQ:RIGL) finished Monday at $18.79, up $5.14.
Day 1 data from the 316-patient trial showed that R112 reduced the Global Nasal Allergy Symptom Score by 7 points (38 percent) vs. 5.4 points (29 percent) for placebo (p=0.0005), an absolute difference of 9 percent, and a relative improvement over placebo of 24 percent. Results on Day 2 were of similar magnitude (p=0.0016), the company said.
R112 appeared ...