Rigel Pharmaceuticals has entered an exclusive global licensing agreement with Arvinas and Pfizer to develop and commercialize VEPPANU, an oral PROTAC drug for advanced breast cancer. The FDA recently approved VEPPANU for estrogen receptor-positive, HER2-negative, ESR1-mutated metastatic breast cancer, based on clinical trial data showing significant improvement in progression-free survival. Rigel plans to invest up to $40 million over four years in the drug's development and aims to launch it in the U.S. with potential global rights, which could drive substantial revenue growth. Following the announcement, Rigel's shares rose by over 10%.
Pfizer remains an undervalued stock that has underperformed the market but increased 2% since the last analysis. It is viewed as a defensive holding that provides income and helps offset risks related to AI in a diversified portfolio. Despite recent ...
Pfizer is currently undervalued, trading at just over 8 times its projected 2026 earnings and offering a 7% dividend yield. Its core business, excluding COVID-related drugs, grew 7% in Q1, while new products, especially from its acquisition of Seagen...
