Rigel drops asthma drug after mid-stage study fails

Mon Aug 26, 2013 7:47am EDT

Aug 26 (Reuters) - Rigel Pharmaceuticals Inc said it will stop developing its experimental asthma drug after the therapy failed to improve the lung function of patients in a mid-stage trial.

The inhaled drug, R343, was being tested as a treatment for patients with allergic asthma.

While the drug was shown to be relatively safe and well tolerated, the trial failed to meet any of its goals, Rigel said.

The company said it will review its drug pipeline and will discuss its plans in the 'near-term.'

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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