SCHEDULE 13G/A: Armistice Capital and Steven Boyd Disclose 8.48% Stake in Rigel Pharmaceuticals
Beneficial Ownership Report
Armistice Capital, LLC and its managing member Steven Boyd have filed an amended Schedule 13G, disclosing a beneficial ownership of 8.48% in Rigel Pharmaceuticals, Inc.'s common stock as of March 31, 2025.
Summary
- Armistice Capital, LLC and Steven Boyd (collectively, the "Reporting Persons") have filed an Amendment No. 4 to Schedule 13G regarding their beneficial ownership in Rigel Pharmaceuticals, Inc.
- As of March 31, 2025, the Reporting Persons collectively beneficially own 1,516,000 shares of Rigel Pharmaceuticals, Inc. Common Stock.
- This ownership represents 8.48% of the class, based on 17,615,040 shares outstanding as of May 1, 2025, as reported in Rigel Pharmaceuticals' Form 10-Q filed on May 6, 2025.
- Armistice Capital, LLC, a Delaware entity, acts as the investment manager for Armistice Capital Master Fund Ltd., which is the direct holder of the shares.
- Steven Boyd, a U.S. citizen, is the managing member of Armistice Capital, LLC and is deemed to beneficially own the securities held by the Master Fund.
- The filing indicates that the shares 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 subjective language or performance metrics that would indicate a positive or negative sentiment. It is neutral.
Future Outlook
NA
Industry Context
This filing is a standard disclosure of a significant ownership stake by an investment firm in a publicly traded biotechnology company. It does not provide specific insights into broader industry trends but indicates an investment firm's confidence or strategic interest in Rigel Pharmaceuticals within the pharmaceutical sector.
Stakeholder Impact
- Shareholders: The disclosure of a significant ownership stake by an institutional investor like Armistice Capital may be viewed positively by other shareholders as a sign of confidence in the company, or it could signal potential future activism, though the filing states the shares are not held for control purposes.
Key Dates
| Date | Description |
|---|---|
| 2025-02-14 | Date of the Joint Filing Statement pursuant to Rule 13d-1(k). |
| 2025-03-31 | Date of the event which requires the filing of this statement (beneficial ownership stake). |
| 2025-05-01 | Date as of which 17,615,040 shares of Rigel Pharmaceuticals, Inc. Common Stock were reported outstanding. |
| 2025-05-06 | Date Rigel Pharmaceuticals, Inc. filed its Form 10-Q with the SEC, reporting shares outstanding. |
| 2025-05-15 | Date the Schedule 13G/A was signed by Armistice Capital, LLC and Steven Boyd. |
Keywords
Rigel Pharmaceuticals, Armistice Capital, Steven Boyd, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Investment Management, Biotechnology, Pharmaceuticals
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