09:27 AM EST, 12/02/2024 (MT Newswires) -- Rigel Pharmaceuticals ( RIGL ) early Monday said the US Food and Drug Administration has granted fast track designation for the company's R289 drug candidate for the treatment of patients with previously treated transfusion dependent lower-risk myelodysplastic syndrome.

Myelodysplastic syndrome is a cancer that causes bone marrow to produce abnormal or immature blood cells instead of healthy ones.

The selective dual IRAK1- and IRAK4-inhibitor is currently being evaluated in a phase 1b study to determine its safety, tolerability, pharmacokinetics and preliminary activity in patients with the hematologic disorder who are relapsed or refractory to prior therapies, the company said.