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) announced that its president and CEO, Raul Rodriguez, will present a company overview at the Jefferies Global Healthcare Conference on June 6, 2024, at 9:30 am ET in New York, NY.
The presentation will be available via live webcast on Rigel's Investor Relations website.
Founded in 1996 and based in South San Francisco, Rigel focuses on developing therapies for hematologic disorders and cancer. For more information, visit www.rigel.com.
Rigel Pharmaceuticals announces significant presentations at the upcoming 2024 ASCO and EHA Hybrid Congresses, showcasing the efficacy of their lead products, REZLIDHIA (olutasidenib) for mIDH1 AML and TAVALISSE (fostamatinib) for chronic immune thrombocytopenia (ITP).
The final five-year results from the Phase 2 trial highlight REZLIDHIA's durable responses in heavily pretreated mIDH1 AML patients. Further, REZLIDHIA proves effective in elderly, transplant-eligible, and post-MPN patients.
Additionally, data from a Phase 1b trial of R2891, an IRAK1/4 inhibitor for lower-risk myelodysplastic syndrome (LR-MDS), and real-world analyses of TAVALISSE for ITP will be presented.
These results underscore Rigel's robust hematology and oncology portfolio, promising significant benefits for patients with challenging conditions.
Rigel Pharmaceuticals, Inc. reported total revenue of $29.5 million for the first quarter of 2024, driven by strong commercial demand for TAVALISSE® and REZLIDHIA®. The company acquired GAVRETO®, a U.S. marketed product for lung and thyroid cancer, expanded its portfolio, and appointed a new Chief Medical Officer. Rigel is progressing clinical trials, collaborating with MD Anderson and CONNECT, and advancing pipeline programs. Financially, total revenue included $21.1 million from TAVALISSE sales, $4.9 million from REZLIDHIA sales, and $3.5 million from collaborations. The net loss was $8.2 million. Rigel had $49.6 million in cash and investments as of March 31, 2024.
Rigel Pharmaceuticals, Inc. will report its first quarter 2024 financial results on May 7, 2024, followed by a conference call and webcast discussing financial results and business updates. Rigel Pharmaceuticals is focused on developing therapies for hematologic disorders and cancer.
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