Olutasidenib shows promise for AML patients post-venetoclax

SOUTH SAN FRANCISCO, Calif. - Rigel (NASDAQ:RIGL) Pharmaceuticals, Inc. (NASDAQ:RIGL) shared outcomes from a Phase 2 study of REZLIDHIA® (olutasidenib) in patients with mIDH1 acute myeloid leukemia (AML) who had relapsed or were refractory to prior venetoclax-based treatments. The peer-reviewed findings, published in Leukemia & Lymphoma, indicate that olutasidenib may provide effective treatment for this patient group.

The study reported a 43.8% composite complete remission rate among the 16 patients evaluated, with a median time to remission of 1.9 months. The duration of remission was not reached by the data cut-off, ongoing at over 30 months for some patients. Additionally, a subset of patients achieved transfusion independence, highlighting the potential benefits of olutasidenib.

Safety profiles remained consistent with previous observations of olutasidenib, without introducing new concerns. The study was led by Dr. Jorge E. Cortes, a noted AML expert and Phase 2 trial investigator, who emphasized the challenging nature of treating this population and the significance of these results.

Acute myeloid leukemia is a fast-progressing cancer, and relapsed or refractory forms of AML represent a particularly difficult treatment challenge due to limited options and poor prognoses. The American Cancer Society anticipates around 20,800 new AML cases in the United States in 2024, with relapsed AML affecting about half of those initially responding to treatment.

REZLIDHIA®, an oral inhibitor targeting mIDH1, is currently indicated for adults with relapsed or refractory AML with a susceptible mutation. The drug carries a boxed warning for differentiation syndrome, a potentially fatal condition, and other serious side effects such as hepatotoxicity.

Rigel, the biotech firm behind REZLIDHIA®, has a history of developing therapies for hematologic disorders and cancer. The company's focus is on providing novel treatments that significantly improve patient outcomes.

The information in this article is based on a press release statement from Rigel Pharmaceuticals .

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) has been a company of interest for investors, especially in light of its recent clinical trial outcomes. According to real-time data from InvestingPro, Rigel's market capitalization stands at $233.25 million, reflecting the biotech firm's current value in the market. Despite the potential of their drug REZLIDHIA® to address acute myeloid leukemia, a challenging condition with limited treatment options, Rigel's financial metrics indicate that the company is not currently profitable. The P/E Ratio (Adjusted) for the last twelve months as of Q4 2023 is -8.96, underscoring the company's earnings challenges.

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InvestingPro Tips suggest that the stock has experienced a significant decline over the last week, with a price total return of -10.14%. Nevertheless, there has been a large price uptick over the last six months, showing a 31.68% return. Analysts have noted that they do not anticipate Rigel will be profitable this year, and the company has not been profitable over the last twelve months. Additionally, Rigel does not pay a dividend to shareholders, which may be a consideration for those looking for income-generating investments.

These financial insights are particularly relevant for investors who are considering the long-term viability and growth potential of Rigel Pharmaceuticals. For those seeking more detailed analysis and additional InvestingPro Tips on RIGL, which can be found at Investing.com, using the coupon code PRONEWS24 can provide an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 5 additional tips available on InvestingPro, investors can gain a more comprehensive understanding of Rigel's financial health and market position.

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