Rigel Pharmaceuticals, Inc. announced the clinical advancement of three programs in development. The first program is a wholly-owned topical ophthalmic formulation of a JAK/SYK inhibitor, R348, being developed by Rigel as a treatment for dry eye disease. The other two programs are aimed at oncology targets and are being conducted by corporate partners, including an AXL kinase inhibitor under development by BerGenBio AS (BerGenBio) and a ligase inhibitor under development by Daiichi Sankyo Company, Limited (Daiichi Sankyo). Chronic dry eye is an inflammatory disease that often affects the lacrimal (tear producing) glands of the eye. Over five million Americans suffer with this disorder, and many patients with chronic dry eye may also suffer with autoimmune conditions, including systemic lupus erythematosus and rheumatoid arthritis. Chronic dry eye is an irritating and painful disease that may be destructive to the cornea if not well controlled. Rigel has developed a topical ophthalmic (eye drop) formulation of R348, a JAK/SYK inhibitor, aimed at reducing the underlying inflammation responsible for causing the symptoms of this condition. A recently completed Phase 1 study of R348 in patients with dry eye disease showed that the drug candidate is well tolerated and Rigel expects to begin a Phase 2 study, titled DROPS (Dry eye Rigel Ophthalmic Phase 2 Study), shortly. This multi-center, randomized, double-masked study, will evaluate two doses of R348 versus placebo administered twice a day over a three-month period in approximately 210 patients with dry eye disease. The efficacy endpoints will include change from baseline in corneal staining, tear production and dry eye symptom scores. Results of this Phase 2 study are expected in the first half of 2014. R428/BGB324 AXL Kinase Inhibitor- BerGenBio: In June 2011, Rigel and Norway's BerGenBio entered into an agreement for Rigel's preclinical candidate, R428, which is an orally bioavailable and selective AXL kinase inhibitor. Now called BGB324, this AXL kinase inhibitor is expected to be useful in the treatment of hematological and certain solid tumor cancers, including leukemia, pancreatic, and breast cancers. AXL kinase expression by cancer cells is essential to metastatic dissemination and is linked with increasing resistance to current cancer therapeutics. By inhibiting AXL kinase expression, BGB324 has been shown, in preclinical studies, to be effective as a single agent therapeutic in preventing and reversing acquired resistance to standard of care cytotoxics and targeted therapies, and may also slow or prevent tumor metastasis. BerGenBio has filed an IMPD (IND-equivalent) and intends to conduct the first-in-human studies of BGB324 in Europe.

Rigel Pharmaceuticals, Inc. Presents at UBS Global Healthcare Conference, May-20-2013 11:30 AM. Venue: Sheraton New York Hotel, 811 Seventh Avenue, New York, New York, United States. Speakers: James M. Gower, Chairman, Chief Executive Officer and Member of Finance Committee.

Rigel Pharmaceuticals, Inc. provided earnings guidance for the year 2013. The company expects to end 2013 with cash and investments in excess of $200.0 million, which is expected to be sufficient to fund operations into 2015.