Shares of biotechnology company Rigel Pharmaceuticals (NASDAQ:RIGL) are soaring higher today after the U.S. Food and Drug Administration approved the company’s Rezlidhia capsules for the treatment of relapsed or refractory acute myeloid leukemia (AML) in adult patients.
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The novel, non-intensive monotherapy bagged the approval on data based on a Phase 2 study evaluating dosing of 150 mg twice a day.
The Street currently has a Moderate Buy consensus rating on the stock alongside an average price target of $6.33.
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