Rigel Proposes Stock Offering on Heels of Tavalisse Approval

Fresh on the announcement that the FDA had approved Tavalisse for Chronic Immune Thrombocytopenia (ITP), the company announced today that it plans to sell up to 17,250,000 shares of common stock. Jefferies LLC,  Piper Jaffray  & Co. and BMO Capital Markets Corp. are acting as the joint book-running managers of the offering. H.C. Wainwright & Co., LLC is acting as lead manager for the offering.
In addition the the ITP approval, Rigel's current clinical programs include Phase 2 studies of fostamatinib in autoimmune hemolytic anemia and IgA nephropathy. Rigel also has product candidates in development with partners BerGenBio AS, Daiichi Sankyo, and Aclaris Therapeutics.

As of this writing the companies stock was down 3.8% in after hours trading.