Rigel Pharmaceuticals, Inc. (RIGL) saw its loss widen to $15.59 million, or $0.16 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $12.69 million, or $0.14 a share. Revenue during the quarter plunged 64.86 percent to $3 million from $8.54 million in the previous year period.
Operating loss for the quarter was $15.79 million, compared with an operating loss of $12.75 million in the previous year period.
"We believe that the favorable safety profile and demonstrated efficacy of fostamatinib may make it an excellent treatment option for patients with chronic ITP," said Raul Rodriguez, Rigels president and chief executive officer. "The company expects to submit a New Drug Application (NDA) for fostamatinib in ITP in the first quarter of 2017."
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