Rigel Pharmaceuticals Inc. (NASDAQ: RIGL) said Wednesday it received a milestone payment from Daiichi Sankyo, its partner in researching potential cancer treatments.
The amount of the payment was undisclosed.
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The companies formed a joint venture in 2002 to develop drugs that control cancer cell proliferation. Daiichi has advanced some of its early work, resulting in multiple milestone payments, according to Rigel.
In morning trading, Rigel shares picked up 17 cents to $9.60.
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