Fostamatinib shows promise in high risk hospitalized COVID-19 patients

Rigel Pharmaceuticals’ (Nasdaq: RIGL) share were up 3.4% at $0.75 yesterday, after it announced encouraging top-line efficacy and safety results from the FOCUS Phase III clinical trial of fostamatinib in hospitalized COVID-19 patients without respiratory failure who have certain high-risk prognostic factors.

However, the trial approached but did not meet statistical significance (p=0.0603) in the primary efficacy endpoint of the number of days on oxygen through Day 29. All prespecified secondary endpoints in the study numerically favored fostamatinib over placebo, including mortality, time to sustained recovery, change in ordinal scale assessment, and number of days in the ICU.

"While the COVID-19 pandemic has abated, we believe that fostamatinib may have an important role in the treatment of patients with COVID-19 based upon these top-line data. We are encouraged by the results of our Phase III clinical trial in that regard. We are evaluating the opportunity and next steps in collaboration with our partner, the US Department of Defense," said Raul Rodriguez, president and chief executive officer of Rigel. "I would also like to express my appreciation to the Rigel team, our partners, clinicians and especially the patients for their participation in this study.