SOUTH SAN FRANCISCO, Calif.,
Oct. 3, 2017 /PRNewswire/
-- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced
that it intends to offer and sell up to $40,000,000 of shares of its common stock in an
underwritten public offering. Rigel expects to grant the
underwriters a 30-day option to purchase up to an additional
$6,000,000 of shares of common stock
sold in the public offering on the same terms and conditions. The
offering is subject to market and other conditions, and there can
be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering. All
of the shares to be sold in the offering are to be sold by Rigel,
with the proceeds to be used to fund research and development
activities, commercial preparation and for general corporate
purposes.
Jefferies LLC and BMO Capital Markets are acting as the joint
book-running managers of the offering.
A shelf registration statement on Form S-3 relating to the
public offering of the shares of common stock described above was
filed with the Securities and Exchange Commission (the "SEC") and
is effective. A preliminary prospectus supplement relating to the
offering will be filed with the SEC and will be available on the
SEC's web site at www.sec.gov. When available, copies of the
preliminary prospectus supplement may also be obtained from
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York,
NY 10022, or by telephone at (877) 547-6340, or by e-mail at
Prospectus_Department@Jefferies.com, or from BMO Capital Markets
Corp., Attention: Equity Syndicate Department, 3 Times Square,
25th Floor, New York,
NY 10036, or by telephone at (800) 414-3627 or by email at
bmoprospectus@bmo.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Rigel Pharmaceuticals, Inc.
Rigel
Pharmaceuticals, Inc. is a biotechnology company dedicated to
discovering, developing and providing novel small molecule drugs
that significantly improve the lives of patients with immune and
hematological disorders, cancer and rare diseases. Rigel's
pioneering research focuses on signaling pathways that are critical
to disease mechanisms. The company's current clinical programs
include clinical trials of fostamatinib, an oral spleen tyrosine
kinase (SYK) inhibitor, in a number of indications. Rigel has
submitted an NDA to the FDA for fostamatinib in patients with
chronic or persistent immune thrombocytopenia (ITP). In addition,
Rigel has product candidates in development with partners BerGenBio
AS, Daiichi Sankyo and Aclaris Therapeutics.
Forward-Looking Information is Subject to Risk and
Uncertainty
Certain of the statements made in this press release are
forward looking, such as those, among others, relating to Rigel's
expectations regarding the completion of the proposed public
offering. Actual results or developments may differ materially from
those projected or implied in these forward-looking statements.
Factors that may cause such a difference include, without
limitation, risks and uncertainties related to whether or not Rigel
will be able to raise capital through the sale of shares of common
stock, the final terms of the proposed offering, market and other
conditions, the satisfaction of customary closing conditions
related to the proposed public offering and the impact of
general economic, industry or political conditions in the United States or internationally.
There can be no assurance that Rigel will be able to complete the
proposed public offering on the anticipated terms, or at all. You
should not place undue reliance on these forward-looking
statements, which apply only as of the date of this press release.
Additional risks and uncertainties relating to the proposed
offering, Rigel and its business can be found under the heading
"Risk Factors" in Rigel's Quarterly Report on Form 10-Q for the
quarter ended June 30, 2017 and other
filings with the SEC, and in the preliminary prospectus supplement
related to the proposed offering to be filed with the SEC on or
about the date hereof. Rigel does not undertake any obligation to
update forward-looking statements and expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in its expectations with regard thereto or any
change in events, conditions or circumstances on which any such
statements are based.
Contact: Raul Rodriguez
Phone: 650.624.1302
Email: invrel@rigel.com
Media Contact: Jessica Daitch
Phone: 917.816.6712
Email: jessica.daitich@inventivhealth.com
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SOURCE Rigel Pharmaceuticals, Inc.