press release archive

Rigel Files Registration Statement for Initial Public Offering of Common Stock

South San Francisco, CA - September 15, 2000

Rigel Pharmaceuticals, Inc. today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of common stock. Rigel plans to sell nine million shares of common stock to the public. All of these shares will be offered by Rigel. The offering is being made through an underwriter group led by Morgan Stanley Dean Witter, with Lehman Brothers and Robertson Stephens co-managing the offering. The underwriters will be granted a 30-day over-allotment option to purchase additional shares of common stock from the Company.

Rigel is a post-genomics combinatorial biology company focused on discovering novel drug targets and developing a portfolio of drug candidates by using its new and rapid drug target identification and validation technology. Rigel has nine product development programs in immunology and cancer and has entered into collaboration agreements with Cell Genesys; Janssen Pharmaceutica, a Johnson & Johnson company; Novartis and Pfizer.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell nor a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

Copies of the prospectus relating to the offering may be obtained from Morgan Stanley Dean Witter, 1585 Broadway, New York, NY 10036, (212) 761-4000; Lehman Brothers, Three World Financial Center, 15th floor, 200 Vesey Street, New York, NY 10285, (212) 526-7000; or Robertson Stephens, 590 Madison Avenue, 36th floor, New York, NY 10022, (212) 319-8900.