Rigel drops asthma drug after trial fails, stock hits life-low

(Reuters) - Rigel Pharmaceuticals Inc said it will stop developing its experimental asthma drug after the therapy failed in a mid-stage trial, sending its shares down as much as 17 percent to a life-low. The failure of the inhaled drug is the latest blow to the company's pipeline after its partner AstraZeneca pulled out of developments of their rheumatoid arthritis pill in June. The inhaled asthma drug, R343, was being tested as a treatment for patients with allergic asthma, but failed to meet any of its goals, including improving lung function. ...



via Health News Headlines - Yahoo! News http://news.yahoo.com/rigel-drops-asthma-drug-trial-fails-stock-hits-143920549.html