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.
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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