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1 week $RIGL A great small bio company with an overlooked Covid play in the works Reddit     

Rigel Pharmaceuticals is a small bio company with 20 years of experience. They have a robust pipeline with 1 approved drug for the treatment of refractory ITP. This year they will recognize over 60 million in sales and an additional 20 million from their ITP approval w/ european partner. Sales have grown significantly over the prior year. While the future is bright for Rigel they have a very interesting Covid play in the works that seems to be going overlooked by the broad investing community which I’ll lay out below.

The FDA approved drug Fostamatinib was shown to be the only drug capable of blocking Mucin-1 (protein in lungs that leads to Covid ARDS/pneumonia/lung injury) by MIT and Harvard researchers – the researchers advocated for rapid drug repurposing which lead to two ongoing investigator sponsored trials by the National Institute of Health and Imperial College of London. [note that the CEO has stated they believe these results may indicate that the drug can be useful in treating Covid and Non-covid ARDS/pneumonia/lung injury]

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7337390/

Additionally, researchers at the University of Amsterdam discovered the coronavirus was causing a cytokine storm and predicted a SYK inhibitor could block it. When they tested Fostamatinib in vitro it was shown to completely block the cytokine storm.

https://www.biorxiv.org/content/10.1101/2020.07.13.190140v1.full.pdf

Another study from Jadavpar University ran a screen of all potential drugs that could block Covid spreader proteins and fostamatinib had the highest docking score.

https://osf.io/7hgpj/

Fostamatinib blocks NETs (sticky white blood cells in the lungs) and was found to inhibit TFG-β factor in mouse model. Both have been found to play a key role in severe Covid.

TGF-β role in Covid and Fostamatinib mouse study

https://www.medrxiv.org/content/10.1101/2020.09.04.20188169v1

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7211163/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6918804/

NETosis importance and comments from the Clinical Director at the National Heart Lung and Blood Institute on Fostamatinib

https://www.medrxiv.org/content/10.1101/2020.10.13.20211425v1.full.pdf

https://www.prnewswire.com/news-releases/rigel-announces-nihnhlbi-sponsored-trial-of-fostamatinib-in-hospitalized-covid-19-patients-in-collaboration-with-inova-301132823.html

Clinical trial links (College of London + NIH/NHIBL/Inova)

https://clinicaltrials.gov/ct2/show/NCT04581954?term=fostamatinib&cond=Covid19&draw=1&rank=1

https://clinicaltrials.gov/ct2/show/record/NCT04579393?term=Fostamatinib&draw=3&rank=13&view=record

submitted by /u/Gay_Demons
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