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) will announce its first quarter 2023 financial results after market close on May 2, 2023. Following the results release, a live conference call will take place at 4:30 p.m. ET to discuss the outcomes and provide business updates. Interested participants can join the call at 877-407-3088 domestically or 201-389-0927 internationally, or access the webcast via the Rigel website. The archived recording will be available for 90 days post-call. Rigel is focused on developing therapies for hematologic disorders and cancer.
Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) announced on April 6, 2023, the granting of 108,600 stock options to three non-executive employees as part of its Inducement Plan. This award is intended to incentivize employees entering employment with Rigel, aligning with NASDAQ Listing Rule 5635(c)(4). The options will vest over four years, with a one-year cliff before any options can be exercised. This move is aimed at enhancing employee retention and motivation within the company. Rigel, based in South San Francisco, focuses on developing innovative therapies for hematologic disorders and cancer.
Rigel Pharmaceuticals (RIGL) reported its financial results for Q4 2022, with total revenues of $51.3 million, including $21.9 million from TAVALISSE and $0.9 million from REZLIDHIA. The launch of REZLIDHIA, approved in December 2022, is progressing well, aided by its inclusion in NCCN Guidelines for AML. Rigel also received $20 million from Kissei due to TAVALISSE's approval in Japan. Despite a net income of $1.4 million in Q4 2022, Rigel faced increased total expenses of $49.2 million. For the full year, total revenues reached $120.2 million but resulted in a net loss of $58.6 million.
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