Why Peninsula-based drug maker Rigel is cutting 16% of its workforce
After a failed attempt to broaden the use of its only approved drug, Rigel Pharmaceuticals Inc. will cut 30 jobs about 16% of its workforce to save as much as $8 million starting next year. The 200-employee South San Francisco company (NASDAQ: RIGL) made the move as it announced it will not seek Food and Drug Administration approval of its tablet drug fostamatinib based on a reanalysis of data from a late-stage clinical trial.
Monday, October 10, 2022 at 9:44 pm