Full Press Release Details
Announces Pricing of Public Offering of Common Stock
SOUTH SAN FRANCISCO, Calif. January 31, 2008 Rigel
Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced the pricing of its
public offering of 5,000,000 shares of common stock at a price of $27.00 per
share. All of the shares are being offered by Rigel. The underwriters have an option to purchase
up to an additional 750,000 shares to cover over-allotments, if any. The
offering is expected to close on February 6, 2008, subject to the satisfaction of
customary closing conditions.
Credit Suisse Securities
(USA) LLC is acting as the sole book-runner for the offering, with Thomas
Weisel Partners LLC, Jefferies & Company, Inc. and Oppenheimer &
Co. Inc. acting as co-managers.
does not constitute an offer to sell or the solicitation of an offer to buy any
of the securities. A prospectus supplement relating to these securities will be
filed with the Securities and Exchange Commission. This offering of
shares of common stock may be made only by means of the prospectus supplement
and accompanying prospectus.
prospectus supplement and accompanying prospectus relating to the offering may
be obtained from Credit Suisse Securities (USA) LLC, Prospectus Department, One
Madison Avenue, New York, New York 10010-3629 (Telephone number
clinical-stage drug development company that discovers and develops novel,
small-molecule drugs for the treatment of inflammatory/autoimmune diseases,
cancer and viral diseases. Our goal is to file one new investigative new drug
application in a significant indication each year. We have achieved this goal
each year beginning in 2002. Our pioneering research focuses on intracellular
signaling pathways and related targets that are critical to disease mechanisms.
Our productivity has resulted in strategic collaborations with large
pharmaceutical partners to develop and market our product candidates. We have
internal product development programs in inflammatory/autoimmune diseases, such
as rheumatoid arthritis and thrombocytopenia, and cancer, as well as partnered
product development programs relating to asthma and cancer.
press release contains forward-looking statements, including statements
related to Rigel s plans to complete a public offering and its strategy to
further develop a portfolio of product candidates. Any statements contained in
this press release that are not statements of historical fact may be deemed to
be forward-looking statements. Words such as plans, intends, promising, expects,
anticipates and similar expressions are intended to identify these
forward-looking statements. There are a number of important factors that could
cause Rigel s results to differ materially from those indicated by these
forward-looking statements, including risks associated with the timing and
success of preclinical and clinical trials, as well as other risks detailed
from time to time in Rigel s SEC reports, including its Quarterly Report on Form 10-Q
for the quarter ended September 30, 2007. Rigel does not undertake any
obligation to update forward-looking statements.