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Rigel Announces Second Quarter 2009 Financial Results
Date:8/4/2009

our focus is to secure a collaboration partner for R788," said James M. Gower, chairman and chief executive officer of Rigel. "As I have previously mentioned, our objective with R788 in rheumatoid arthritis is to position the product after methotrexate and before biological therapies are used. We have shown excellent results in TASKi1 and TASKi2 studies, and we believe that patient population represents the larger market opportunity for this product. We will also be preparing for the Phase 3 clinical trials for R788 with a collaboration partner," he added.

About Rigel (www.rigel.com)

Rigel is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory/autoimmune diseases and metabolic diseases. Our pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel's productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. Rigel has product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis thrombocytopenia and asthma, as well as in cancer.

This press release contains "forward-looking" statements, including statements related to the sufficiency of Rigel's cash resources, Rigel's plans to secure a collaboration partner for R788, and Rigel's plans to pursue further clinical development of R788, and the timing thereof. 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 "believes," "focus," "will," "scheduled," "our objective" 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 risk
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SOURCE Rigel Pharmaceuticals, Inc.
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