When it comes to some factors, Momenta Pharmaceuticals is the polar opposite of Rigel Pharmaceuticals. South San Francisco-based Rigel Pharmaceuticals has its attention directed towards small molecule drugs. On the other hand, Momenta, based in Cambridge, Massachusetts, deals with ailments through utilizing large molecules known as biologics.
Rigel Pharmaceuticals, with an approved drug in Europe and the United States, has a market cap of nearly $475 million relative to Momenta Pharmaceuticals’ $2.6 billion valuation. The present week, Momenta Pharmaceuticals briefed its investors that it must conclude 2019 with $545.1 million in cash. This amount is larger than Rigel Pharmaceuticals’ entire market cap. Rigel Pharmaceuticals hopes to conclude 2019 with $98 million in cash.
Since they first came into formation, both the firms adopted different paths. Established in 1996, Rigel Pharmaceuticals has its attention on small molecule drugs. This may be familiar as conventional pharmaceuticals, such as oral medicines. On the other hand, incorporated in 2001, Momenta Pharmaceuticals leveraged the latest protein engineering technologies to advance in the study and development of big, injectable biologic therapies, such as antibodies and proteins.
The road has not been a smooth one. Rigel Pharmaceuticals devoted its initial years to advancing numerous drugs which failed to work out, such as an asthma drug that was developed by both AstraZeneca and Pfizer before its ultimate failure in clinical trials. Rigel Pharmaceutical’s approved drug, Tavalisse, was given back to the firm from AstraZeneca after a phase 2b clinical trial which failed to show superiority against AbbVie’s Humira.
Momenta Pharmaceuticals primarily decided to generate improved versions of already present biologic drugs and biosimilars. Biosimilars are biologic drugs that can be used in place of the original drug but are not completely true generic versions because of the nature of biologics.