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Rigel Pharmaceuticals Inc. (RIGL) Plunged To A New Low On Fostamatinib News

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12/14/2012 7:32 AM ET

Rigel Pharmaceuticals Inc. (RIGL: Quote) and partner AstraZeneca (AZN: Quote) reported clinical trial results for their oral treatment for rheumatoid arthritis, fostamatinib, which failed to meet one of the main objectives.

Rigel Pharmaceuticals gapped open sharply lower Thursday and fell further around mid-morning. Shares finished down by 2.92 at $5.51 on the highest volume of the year. The stock plummeted to a new low for the year.

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by RTT Staff Writer

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