SCHEDULE 13G/A: Armistice Capital and Steven Boyd Disclose 6.54% Stake in Rigel Pharmaceuticals
Schedule 13G Amendment
Armistice Capital, LLC and Steven Boyd have filed an Amendment No. 3 to Schedule 13G, disclosing a beneficial ownership of 6.54% in Rigel Pharmaceuticals, Inc. as of December 31, 2024.
Summary
- Armistice Capital, LLC and Steven Boyd, collectively referred to as the "Reporting Persons," have filed an Amendment No. 3 to their Schedule 13G.
- The filing discloses their beneficial ownership in Rigel Pharmaceuticals, Inc.'s Common Stock.
- As of December 31, 2024, the Reporting Persons beneficially own an aggregate of 1,152,000 shares.
- This represents 6.54% of Rigel Pharmaceuticals, Inc.'s outstanding Common Stock.
- The percentage is calculated based on 17,615,040 shares outstanding as of November 4, 2024, as reported in Rigel's Form 10-Q filed on November 7, 2024.
- Armistice Capital, LLC acts as the investment manager for Armistice Capital Master Fund Ltd., which is the direct holder of the shares.
- Steven Boyd, as the managing member of Armistice Capital, is also deemed to beneficially own these securities.
- Both Armistice Capital, LLC and Steven Boyd hold shared voting and shared dispositive power over the 1,152,000 shares.
- The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate a positive or negative sentiment regarding the company's performance or prospects. It is a regulatory compliance filing.
Future Outlook
This Schedule 13G filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding Rigel Pharmaceuticals, Inc.'s future outlook.
Industry Context
This filing is a standard disclosure of a significant ownership stake by an investment firm in a publicly traded biotechnology company. It reflects an investment decision by Armistice Capital and Steven Boyd in Rigel Pharmaceuticals, Inc., a company operating in the pharmaceutical sector. Such disclosures are common and provide transparency regarding institutional holdings.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional holding, which can influence investor perception and potentially trading activity.
- Company Management: Awareness of a significant shareholder and their stake, though the filing states the holding is not for control purposes.
Key Dates
| Date | Description |
|---|---|
| 2024-11-04 | Date as of which Rigel Pharmaceuticals, Inc. reported 17,615,040 shares outstanding in its Form 10-Q. |
| 2024-11-07 | Date Rigel Pharmaceuticals, Inc. filed its Form 10-Q with the SEC. |
| 2024-12-31 | Date of event which required the filing of this Schedule 13G Amendment No. 3. |
| 2025-02-14 | Date the Schedule 13G Amendment No. 3 was filed with the SEC. |
Keywords
Rigel Pharmaceuticals, Armistice Capital, Steven Boyd, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Investment Management, Biotechnology, Pharmaceuticals
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