Welcome to our dedicated page for Rigel Pharmaceuticals (New) news (Ticker: RIGL), a resource for investors and traders seeking the latest updates and insights on Rigel Pharmaceuticals (New) stock.
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) is a leading biotechnology company based in South San Francisco, California, dedicated to discovering, developing, and providing novel therapies that significantly improve the lives of patients with immune and hematologic disorders, cancer, and rare diseases. Established in 1996, Rigel has built a solid reputation in the pharmaceutical industry by focusing on the development of small-molecule drugs.
The company's flagship product, TAVALISSE (fostamatinib disodium hexahydrate) tablets, is the only oral spleen tyrosine kinase (SYK) inhibitor approved for the treatment of thrombocytopenia in adult patients with chronic immune thrombocytopenia (ITP) who have had an insufficient response to a previous treatment.
REZLIDHIA (olutasidenib), another key product, is an oral small-molecule inhibitor of mutant isocitrate dehydrogenase-1 (mIDH1), indicated for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible IDH1 mutation.
Rigel's pipeline includes a variety of promising candidates such as R289, an IRAK1/4 dual inhibitor for the treatment of lower-risk myelodysplastic syndrome (LR-MDS), R552, R835, THF-beta Inhibitors, and AZD0449 - an inhaled JAK inhibitor. The company is also exploring the potential of olutasidenib in high-grade glioma (HGG) through a collaboration with CONNECT, an international network of pediatric cancer centers.
Recent financial highlights include a reported net product sales of $104.3 million in 2023, showcasing a significant growth of 36% over the previous year. Rigel's partnership with major pharmaceutical companies like AstraZeneca for their rheumatoid arthritis drug and Grifols S.A. for delivery of drug supplies reinforces their strong market position.
In 2024, Rigel announced the acquisition of U.S. rights to GAVRETO (pralsetinib), a kinase inhibitor approved for treating metastatic RET fusion-positive non-small cell lung cancer (NSCLC) and advanced or metastatic RET fusion-positive thyroid cancer. This acquisition aligns with Rigel's strategy to expand its hematology and oncology portfolio, leveraging its existing commercial infrastructure.
Rigel continues to focus on commercial execution, strategic collaborations, and advancing its robust pipeline to reach financial breakeven and deliver transformative treatments to underserved patient populations.
Rigel Pharmaceuticals (Nasdaq: RIGL) has scheduled its third quarter 2024 financial results announcement for Thursday, November 7, 2024, after market close. The company will host a live conference call and webcast at 4:30 p.m. Eastern Time to discuss financial results and provide a business update. Participants can join via phone (877-407-3088 domestic, 201-389-0927 international) or through the webcast available on Rigel's website. The webcast recording will be accessible for 90 days after the call.
Rigel Pharmaceuticals (RIGL) announced the issuance of a Dear Health Care Provider (DHCP) letter regarding a new safety signal for GAVRETO® (pralsetinib), following FDA consultation. GAVRETO is approved for treating adult patients with metastatic RET fusion-positive non-small cell lung cancer and certain thyroid cancer patients. The letter has been posted to the GAVRETO Healthcare Provider website. The company emphasizes patient safety as its highest priority and encourages healthcare providers and patients to report adverse events to Rigel's Medical Communications Center or directly to the FDA.
Rigel Pharmaceuticals (Nasdaq: RIGL) has announced the granting of inducement awards under its Inducement Plan, as approved by the Compensation Committee of Rigel's Board of Directors. These awards were granted as an inducement for employees entering into employment with Rigel, in compliance with NASDAQ Listing Rule 5635(c)(4).
The company has granted 35,944 stock options to fifteen non-executive employees. These options will vest over a four-year period with a one-year cliff. Rigel, founded in 1996 and based in South San Francisco, California, is a biotechnology company focused on discovering, developing, and providing novel therapies for patients with hematologic disorders and cancer.
Rigel Pharmaceuticals (Nasdaq: RIGL), a biotechnology company focused on hematologic disorders and cancer, announced its participation in the 2024 Cantor Global Healthcare Conference. CEO Raul Rodriguez will present a company overview on September 19, 2024, at 9:10 am ET in New York.
The presentation will be accessible via live webcast through Rigel's Investor Relations website. Founded in 1996 and based in South San Francisco, Rigel is dedicated to developing novel therapies for patients with hematologic disorders and cancer. Investors can access more information about Rigel's products and pipeline on their official website.
Rigel Pharmaceuticals (Nasdaq: RIGL) has announced the enrollment of the first patient in a Phase 1b/2 triplet therapy trial combining REZLIDHIA® (olutasidenib) with decitabine and venetoclax for mutated isocitrate dehydrogenase-1 (mIDH1) acute myeloid leukemia (AML). This trial, conducted in partnership with MD Anderson Cancer Center, marks the beginning of Rigel's strategic development alliance. The study aims to evaluate the safety, tolerability, and efficacy of this combination in both newly diagnosed and relapsed/refractory mIDH1 AML patients. REZLIDHIA is an oral, small-molecule inhibitor of mIDH1, already approved for relapsed or refractory mIDH1 AML. The trial's primary objective is to determine complete remission rates in 60 patients across two cohorts.
Rigel Pharmaceuticals (Nasdaq: RIGL) has expanded its partnership with Kissei Pharmaceutical to include REZLIDHIA® (olutasidenib) in Japan, South Korea, and Taiwan. The deal grants Kissei exclusive rights to develop and commercialize olutasidenib for all current and potential indications in these territories. Rigel will receive a $10 million upfront payment and is eligible for up to $152.5 million in future milestone payments. Additionally, Rigel will receive product transfer price payments in the mid-twenty to lower-thirty percent range based on tiered net sales for exclusive supply of REZLIDHIA.
REZLIDHIA is currently approved in the U.S. for treating relapsed or refractory mutated IDH1 acute myeloid leukemia (AML). Kissei plans to initially seek approval for REZLIDHIA in Japan for R/R mIDH1 AML. This expansion builds on the existing partnership between Rigel and Kissei for TAVALISSE® (fostamatinib) in the same territories.
Rigel Pharmaceuticals (Nasdaq: RIGL), a biotechnology company focused on hematologic disorders and cancer, announced its participation in two upcoming investor conferences in September 2024. Dean Schorno, the company's CFO, will represent Rigel at:
1. The 2024 Wells Fargo Healthcare Conference in Boston, MA on September 5th for one-on-one meetings.
2. The H.C. Wainwright 26th Annual Global Investment Conference in New York, NY on September 10th, where he will participate in one-on-one meetings and present a company overview at 11:30 a.m. ET.
A live webcast of the H.C. Wainwright presentation will be available on Rigel's website. Founded in 1996, Rigel is based in South San Francisco, California, and is dedicated to developing novel therapies for patients with hematologic disorders and cancer.
Rigel Pharmaceuticals reported Q2 2024 total revenue of $36.8 million, including TAVALISSE net sales of $26.4 million (24% YoY growth), REZLIDHIA net sales of $5.2 million (102% YoY growth), and GAVRETO net sales of $1.9 million. The company successfully completed the NDA transfer of GAVRETO for RET fusion-positive cancers. Rigel reported a net loss of $1.0 million, or $0.06 per share, compared to a $6.6 million loss in Q2 2023. For H1 2024, total revenue was $66.4 million with a net loss of $9.3 million. The company had $49.1 million in cash and equivalents as of June 30, 2024. Rigel continues to advance clinical trials, including a Phase 1b study of R2891 for lower-risk MDS and new combination trials for olutasidenib in AML.
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) has announced that it will report its second quarter 2024 financial results after market close on Tuesday, August 6, 2024. The company's senior management will host a live conference call and webcast at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss the financial results and provide a business update. Participants can join the call by dialing 877-407-3088 (domestic) or 201-389-0927 (international). The call and accompanying slides will also be webcast live from the Investor Relations section of Rigel's website at www.rigel.com, where it will be archived for 90 days after the call.
On July 12, 2024, Rigel Pharmaceuticals announced the granting of stock options under its Inducement Plan. This plan, approved by Rigel's Compensation Committee, aligns with NASDAQ Listing Rule 5635(c)(4). The company granted 79,890 stock options to eleven non-executive employees, which will vest over four years with a one-year cliff. This move aims to attract and retain talented employees by providing them with a stake in the company's future.
Rigel is a biotechnology firm focused on developing therapies for hematologic disorders and cancer. Based in South San Francisco, it was established in 1996. The company continues to innovate and provide novel treatments in its industry.
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