Yahoo Finance Today's Research Reports on Stocks to Watch: Catabasis Pharmaceuticals and Rigel Pharmaceuticals
NEW YORK, NY / ACCESSWIRE / October 3, 2017 / Shares of Catabasis surged on Monday after announcing this past Friday that it would be presenting data on its investigational oral small molecule Edasalonexent that is intended to be a disease-modifying therapy for all patients affected by Duchenne muscular dystrophy (DMD). Shares of Rigel also stormed ahead after it was revealed that the FDA might not be that concerned with mixed data from the company's trials on its lead candidate Tavalisse.
RDI Initiates Coverage on:
Catabasis Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=CATB
Rigel Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=RIGL
Catabasis Pharmaceuticals, Inc.'s shares closed up 24.53% on Monday with nearly 5.5 million shares traded. While there was no significant news from the company yesterday, Catabasis announced this past Friday that it will present data from the Catabasis and Sarepta joint research collaboration in Duchenne muscular dystrophy (DMD) at the 22nd International Congress of the World Muscle Society on Thursday, October 5th. The presentation is titled, "Edasalonexent (CAT-1004), an NF-kB inhibitor, enhances myotube formation in vitro, and increases exon-skipped sarcolemmal dystrophin in the muscle of mdx mice." Edasalonexent (CAT-1004) is the company's investigational oral small molecule that is being developed as a potential disease-modifying therapy for all patients affected by DMD, regardless of their underlying mutation.
Access RDI's Catabasis Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=CATB
Rigel Pharmaceuticals, Inc.'s shares closed up 32.68% on Monday with around 12.6 million shares traded. The pharma company saw its shares jump higher after it announced results of a recent meeting with the FDA. Traders had their nerves calmed after it was revealed that the Food & Drug Administration might not think the company's lead candidate's mixed data would be a big problem. Mixed data from Rigel's pivotal trials supporting the company's first new drug application for Tavalisse, formerly fostamatinib, may not be a big concern for the FDA which gave traders relieved optimism. The company's Tavalisse has the potential to make as much as $350 million in peak annual sales if approved to treat an underserved group of Americans that suffer from an incurable blood-based disease called immune thrombocytopenic purpura (ITP). The FDA is expected to deliver an approval decision by next April.
Access RDI's Rigel Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=RIGL
Our Actionable Research on Catabasis Pharmaceuticals, Inc. (NASDAQ: CATB) and Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) be downloaded free of charge at Research Driven Investing.
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