Rigel (RIGL) Surges 19.7%: Is This an Indication of Further Gains?

Company Overview - Rigel Pharmaceuticals (RIGL) shares increased by 19.7% to $16.35 in the last trading session, with a higher-than-average trading volume [1] - The stock has shown a 1.6% gain over the past four weeks [1] Recent Developments - The company recently enrolled the first patient in a phase Ib/II triplet therapy study for its drug Rezlidhia (olutasidenib), in combination with decitabine and venetoclax, targeting mutated isocitrate dehydrogenase-1 (mIDH1) acute myeloid leukemia (AML) [2] Financial Expectations - Rigel is expected to report quarterly earnings of $0.01 per share, reflecting a year-over-year increase of 103.3% [3] - Revenue projections stand at $40.69 million, which is a 44.7% increase compared to the same quarter last year [3] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a potential stability in earnings expectations [4] Industry Context - Rigel is part of the Zacks Medical - Drugs industry, where another company, Indivior PLC (INDV), saw a 0.5% increase to $9.32 but has a negative return of -25.5% over the past month [4] - Indivior's consensus EPS estimate for the upcoming report is $0.44, representing a year-over-year change of 29.4% [5]