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Why Rigel Investors Had a Dose of Disappointment Today

Tuesday - 8/27/2013, 2:52pm  ET

With shares of Rigel Pharmaceuticals down more than 65% in the past 12 months, it's clearly been a difficult year for the drugmaker. Today's 13.5% drop came after it reported that its experimental asthma drug, called R343, failed to meet its primary endpoint in a mid-stage clinical trial. This disappointing news comes just a couple of months after the company reported lackluster results for its rheumatoid arthritis candidate fostamatib, which caused big pharma AstraZeneca to bail on their partnership. In the following video, health-care analysts David Williamson and Max Macaluso discuss these results and Rigel's current situation.

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