Rigel Pharmaceuticals, Inc. (RIGL) saw its loss narrow to $15.31 million, or $0.13 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $17.46 million, or $0.19 a share. Revenue during the quarter dropped 28.73 percent to $3.58 million from $5.03 million in the previous year period.
Operating loss for the quarter was $16.20 million, compared with an operating loss of $17.57 million in the previous year period.
"The first quarter was an exciting time at Rigel as we achieved significant milestones related to our lead product candidate, Tavalisse, in ITP," said Raul Rodriguez, Rigel's president and chief executive officer. "Looking ahead, we hope to report on FDA acceptance of our submitted NDA for review by the end of the second quarter. In addition, we will continue to advance fostamatinib across other indications."
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