Rigel Announces Closing of Licensing Agreement for VEPPANU™ (vepdegestrant)

Rhea-AI Summary

Rigel (Nasdaq:RIGL) closed its exclusive global license agreement with Arvinas and Pfizer for VEPPANU™ (vepdegestrant), effective June 11, 2026. Rigel paid a $70 million upfront, split evenly between Arvinas and Pfizer, and expects VEPPANU to be commercially available in August.

VEPPANU is FDA-approved for adults with ER+/HER2-, ESR1-mutated advanced or metastatic breast cancer after at least one endocrine therapy. Key safety considerations include QTc prolongation, embryo-fetal toxicity, serious adverse reactions in 9% of patients, and fatal reactions in 1%.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Positive

• Exclusive global license for VEPPANU effective as of June 11, 2026
• $70 million upfront payment completed to Arvinas and Pfizer
• Rigel plans VEPPANU commercial availability in August
• VEPPANU already FDA-approved for a defined breast cancer population

Negative

• VEPPANU associated with QTc prolongation requiring ECG monitoring and restrictions
• Embryo-fetal toxicity risk drives contraception and lactation limitations
• Serious adverse reactions occurred in 9% of VEPPANU-treated patients
• Fatal adverse reactions reported in 1.0% of VEPPANU-treated patients
• Permanent discontinuation due to adverse reactions in 2.9% of patients

News Market Reaction – RIGL

+2.80%

+2.80% News Effect

On the day this news was published, RIGL gained 2.80%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

What This Means

This announcement confirms that Rigel’s exclusive global license for VEPPANU has closed, following e...

Analysis

This announcement confirms that Rigel’s exclusive global license for VEPPANU has closed, following early Hart-Scott-Rodino clearance and customary conditions. The agreement became effective on June 11, 2026, with a $70.0M upfront payment to Arvinas and Pfizer and expectations for commercial availability in August. Investors may track how VEPPANU’s approved indication in ESR1-mutated ER+/HER2- advanced breast cancer, along with its detailed safety profile, complements Rigel’s existing oncology offerings and prior licensing disclosure from May 12, 2026.

Key Figures

Upfront payment: $70.0 million Serious adverse reactions: 9% Fatal adverse reactions: 1.0% +5 more

8 metrics

Upfront payment $70.0 million Paid to Arvinas and Pfizer upon license effectiveness

Serious adverse reactions 9% Patients treated with VEPPANU

Fatal adverse reactions 1.0% Patients treated with VEPPANU

Permanent discontinuations 2.9% Discontinued VEPPANU due to adverse reaction

Dose interruptions 14% VEPPANU interruptions due to adverse reactions

Fracture events 1.3% Serious adverse reaction: any fracture

QTc threshold 470 msec Do not initiate VEPPANU if QTc >470 msec

Post-treatment contraception 2 weeks Contraception after last VEPPANU dose for males and females

Historical Context

5 past events · Latest: May 27 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 27	Conference presentation	Neutral	+1.1%	Jefferies conference appearance announcing a company overview presentation.
May 21	Clinical data updates	Positive	-0.6%	New ASCO and EHA data for multiple oncology products including Phase 3 results.
May 14	Conference presentation	Neutral	-0.7%	RBC Capital Markets healthcare conference participation by company management.
May 12	VEPPANU licensing	Positive	+12.1%	Exclusive global license for VEPPANU, the first FDA-approved oral PROTAC in its setting.
May 05	Quarterly earnings	Positive	-5.1%	Q1 2026 revenue, positive net income, and reaffirmed full-year guidance.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Of three clearly positive news events, two saw negative 24-hour price reactions, while the prior VEPPANU licensing announcement on May 12, 2026 coincided with a strong gain.

Recent Company History

Over the past several months, Rigel has combined corporate visibility events with substantive pipeline and financial updates. On May 12, 2026, it announced the initial exclusive global license for VEPPANU, which drove a 12.1% gain and added a fourth commercial product. Q1 2026 results on May 5, 2026 showed $58.8M in total revenue and positive net income but were followed by a -5.06% move. Multiple conference presentations in May had modest, mixed reactions. Today’s announcement confirms closing of the VEPPANU license and payment of the $70.0M upfront fee.

Regulatory & Risk Context

Short Interest: 22.22%

Short Interest

22.22% of float

0% 15% 30%+

moderate as of 2026-05-29 Days to cover: 12.02

Key Terms

hart-scott rodino antitrust improvements act of 1976, estrogen receptor-positive (er+), human epidermal growth factor receptor 2 (her2-), esr1-mutated, +4 more

8 terms

hart-scott rodino antitrust improvements act of 1976 regulatory

"following the early termination of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976"

A U.S. law that requires companies planning large mergers or acquisitions to notify federal antitrust regulators and observe a waiting period so authorities can review the deal for competition concerns. Think of it like asking a neighborhood committee for permission and time to check before two households combine: the review can delay, modify, or block a transaction, so investors watch HSR filings closely because they affect deal timing, completion risk, and potential value changes.

estrogen receptor-positive (er+) medical

"treatment of adults with estrogen receptor-positive (ER+)/human epidermal growth factor receptor 2-negative"

Cancer described as estrogen receptor–positive (ER+) has cells that carry protein ‘locks’ on their surface that estrogen can bind to and use to stimulate tumor growth. For investors, ER+ status matters because it defines a clear patient group and predicts whether hormone-blocking drugs, companion tests, or targeted therapies are likely to work, affecting clinical trial design, regulatory prospects, market size and potential revenue — like knowing which key fits which lock.

human epidermal growth factor receptor 2 (her2-) medical

"estrogen receptor-positive (ER+)/human epidermal growth factor receptor 2-negative (HER2-)"

A label for cancer cells that lack or have very low levels of the HER2 protein on their surface; HER2 is a growth-signaling receptor that, when present in high amounts, can speed tumor growth. For investors, the HER2-negative status matters because it determines which therapies a patient can receive and which drugs can compete in that segment, shaping a drug’s potential market size, trial outcomes, regulatory path, and revenue prospects—like knowing whether a key fits a lock before manufacturing keys.

esr1-mutated medical

"estrogen receptor 1 (ESR1)-mutated advanced or metastatic breast cancer"

ESR1-mutated means there is a change in the ESR1 gene that alters the estrogen receptor protein, which tells certain cells how to respond to the hormone estrogen. Investors should care because in hormone-driven cancers these mutations can make standard hormone-blocking treatments stop working, increasing demand for alternative drugs and diagnostic tests and affecting clinical trial outcomes and the commercial value of therapies — like a lock changing shape so the usual key no longer fits.

qtc interval prolongation medical

"VEPPANU can cause QT (QTc) interval prolongation."

QTc interval prolongation is a lengthening of the heart’s electrical “reset” time measured on an electrocardiogram after adjusting for heart rate; think of it like a loading bar that takes longer than normal to return to zero. It matters to investors because pronounced prolongation can signal a risk of dangerous irregular heartbeats, trigger regulatory review, clinical-trial changes, safety warnings or market setbacks for drugs and medical devices, and therefore can affect a company’s valuation and timelines.

cyp3a inhibitors medical

"Avoid concomitant use of VEPPANU with strong CYP3A inhibitors"

CYP3A inhibitors are drugs or substances that block a key liver and gut protein (CYP3A) responsible for breaking down many medicines; think of the protein as a traffic officer that clears drugs through the body, and an inhibitor as something that slows that traffic. They matter to investors because they can change how other drugs behave—raising safety risks, altering dosing, complicating regulatory approval, and affecting sales or liability for companies with drugs metabolized by CYP3A.

p-gp substrates medical

"Avoid concomitant use with certain P-gp substrates where minimal increases"

P‑gp substrates are drugs that are recognized and pumped out of cells by P‑glycoprotein, a protein that acts like a cellular “bouncer” controlling how much of a medicine gets into tissues such as the gut, liver, kidneys and brain. For investors, whether a drug is a P‑gp substrate matters because it can change how well the drug reaches its target, how it is dosed, and whether it will interact with other medicines—factors that affect safety, efficacy, regulatory review and commercial success.

ugt1a9 substrates medical

"Certain UGT1A9 Substrates: Refer to the Prescribing Information for UGT1A9 substrates"

UGT1A9 substrates are drugs or chemical compounds that are broken down by the liver enzyme UGT1A9; think of the enzyme as a specific conveyor belt in the body’s recycling plant that tags certain molecules for removal. For investors, knowing whether a medicine is a UGT1A9 substrate matters because this pathway affects how long a drug stays in the body, its safety, dosing, and the risk of interactions with other medicines—factors that influence approval, marketability, and commercial value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SOUTH SAN FRANCISCO, Calif., June 16, 2026 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL), a commercial stage biotechnology company focused on hematologic disorders and cancer, today announced the closing of its license agreement for VEPPANU^TM (vepdegestrant), following the early termination of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976 and satisfaction of other customary closing conditions. Rigel previously announced it entered into an exclusive, global license agreement with Arvinas, Inc. (Arvinas) and Pfizer Inc. (Pfizer) to develop, manufacture and commercialize VEPPANU. VEPPANU is approved by the U.S. Food and Drug Administration (FDA) for the treatment of adults with estrogen receptor-positive (ER+)/human epidermal growth factor receptor 2-negative (HER2-), estrogen receptor 1 (ESR1)-mutated advanced or metastatic breast cancer, as detected by an FDA-authorized test, with disease progression following at least one line of endocrine therapy.

The agreement is effective as of June 11, 2026 and Rigel has made the upfront payment of $70.0 million to be distributed evenly between Arvinas and Pfizer, consistent with the terms of the agreement.

Rigel expects to make VEPPANU commercially available in August.

About VEPPANU^TM (vepdegestrant)

INDICATION
VEPPANU is indicated for the treatment of adults with estrogen receptor (ER)–positive, human epidermal growth factor receptor 2 (HER2)–negative, estrogen receptor–1 (ESR1)–mutated advanced or metastatic breast cancer, as detected by an FDA-authorized test, with disease progression following at least one line of endocrine therapy.

IMPORTANT SAFETY INFORMATION

WARNINGS AND PRECAUTIONS
QTc Interval Prolongation
VEPPANU can cause QT (QTc) interval prolongation. Correct electrolyte abnormalities, including hypokalemia and hypomagnesemia, prior to and during treatment with VEPPANU. Perform an ECG prior to initiation of treatment with VEPPANU and do not initiate VEPPANU in patients with QTc >470 msec. Repeat ECG approximately 4 weeks after initiating treatment and as clinically indicated. Avoid concomitant use of VEPPANU with strong CYP3A inhibitors or drugs known to prolong the QTc interval.

Embryo-Fetal Toxicity
Based on findings from animal studies and its mechanism of action, VEPPANU can cause fetal harm when administered to a pregnant woman. Advise pregnant women and females of reproductive potential of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during treatment with VEPPANU and for 2 weeks after the last dose. Advise male patients with female partners of reproductive potential to use effective contraception during treatment with VEPPANU and for 2 weeks after the last dose.

ADVERSE REACTIONS
Serious adverse reactions occurred in 9% of patients who received VEPPANU. The serious adverse reactions included any fracture (1.3%), fall, hypercalcemia, hepatic injury, pneumonia, musculoskeletal pain (0.6% each), and QTc prolonged (0.3%). Fatal adverse reactions occurred in 1.0% of patients who received VEPPANU, including dyspnea, cerebral ischemia, and unknown cause (one patient each).

Permanent discontinuation of VEPPANU due to an adverse reaction occurred in 2.9% of patients, dosage interruptions of VEPPANU due to an adverse reaction occurred in 14% of patients, and dosage reductions of VEPPANU due to an adverse reaction occurred in 1.9% of patients.

The most common (≥10%) adverse reactions, including laboratory abnormalities, were decreased white blood cells, increased AST, musculoskeletal pain, fatigue, decreased hemoglobin, decreased neutrophils, increased ALT, increased alkaline phosphatase, nausea, decreased blood potassium, increased bilirubin, decreased appetite, electrocardiogram QT prolonged, decreased platelets, and constipation.

Clinically relevant adverse reactions in <10% of patients who received VEPPANU included headache, hot flush, diarrhea, vomiting, bradycardia, and urinary tract infection.

DRUG INTERACTIONS

• Strong CYP3A Inhibitors: Avoid concomitant use of VEPPANU with strong CYP3A inhibitors. If concomitant use cannot be avoided, reduce VEPPANU dosage.
• Strong CYP3A Inducers: Avoid concomitant use with strong CYP3A inducers in patients receiving VEPPANU. If concomitant use cannot be avoided, increase VEPPANU dosage.
• Certain P-gp Substrates: Avoid concomitant use with certain P-gp substrates where minimal increases in concentration may lead to serious adverse reactions.
• Certain UGT1A9 Substrates: Refer to the Prescribing Information for UGT1A9 substrates where minimal increases in the concentration may lead to serious adverse reactions.

Avoid concomitant use of VEPPANU with other drugs with a known potential to prolong the QTc interval.

LACTATION
Advise lactating women not to breastfeed during treatment with VEPPANU and for 2 weeks after the last dose.

Click here for Important Safety Information and Full Prescribing Information. 

To report side effects of prescription drugs to the FDA, visit www.fda.gov/medwatch or call 1-800-FDA-1088 (800-332-1088).

VEPPANU is a trademark of Rigel Pharmaceuticals, Inc.

About Rigel
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) is a biotechnology company dedicated to discovering, developing and providing novel therapies that significantly improve the lives of patients with hematologic disorders and cancer. Founded in 1996, Rigel is based in South San Francisco, California. For more information on Rigel, the Company's marketed products and pipeline of potential products, visit www.rigel.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA") relating to, among other things, the potential of VEPPANU (vepdegestrant); Rigel's expectations regarding the commercialization of VEPPANU; and the anticipated timing of commercial availability of VEPPANU. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements and as such are intended to be covered by the safe harbor for "forward-looking statements" provided by the PSLRA. Forward-looking statements can be identified by words such as "plan", "potential", "may", "anticipates", "expects", "will" and similar expressions in reference to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on Rigel's current beliefs, expectations and assumptions and therefore inherently involve significant risks and uncertainties that are difficult to predict and many of which are outside of Rigel's control. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to the successful transfer of development, manufacturing and commercialization responsibilities to Rigel; risks associated with integrating newly acquired or licensed assets; risks related to Rigel's dependence on third parties, including Arvinas and Pfizer, for development, manufacturing and supply activities; risks related to Rigel's ability to successfully launch and commercialize VEPPANU, including uncertainties related to physician adoption, patient demand, market acceptance, reimbursement and pricing; competition from other therapies; regulatory risks, including the risk that regulatory approvals may be subject to limitations or may be withdrawn; risks that clinical trial results may not be predictive of real-world results; risks that VEPPANU may have unintended side effects or adverse reactions; and risks related to Rigel's ability to successfully execute its strategic and commercial plans. There can be no assurance that VEPPANU will achieve the commercial potential anticipated by Rigel or that the license agreement will result in the expected benefits. Additional risks and uncertainties are described in the "Risk Factors" section of Rigel's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and in other filings Rigel makes with the Securities and Exchange Commission. Any forward-looking statement made by Rigel in this press release speaks only as of the date on which it is made. Rigel undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.

Contact for Investors & Media:

Investors:
Rigel Pharmaceuticals, Inc.
650.624.1232
ir@rigel.com 

Media:
David Rosen
Argot Partners
646.461.6387
david.rosen@argotpartners.com

 

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SOURCE Rigel Pharmaceuticals, Inc.

FAQ

What did Rigel (Nasdaq:RIGL) announce on June 16, 2026 about VEPPANU?

Rigel announced closing of its exclusive global license for VEPPANU (vepdegestrant), effective June 11, 2026. According to Rigel, it paid a $70 million upfront fee and expects to make VEPPANU commercially available starting in August 2026.

What is VEPPANU (vepdegestrant) and who is it approved to treat?

VEPPANU is an FDA-approved therapy for certain advanced breast cancers. According to Rigel, it treats adults with ER-positive, HER2-negative, ESR1-mutated advanced or metastatic breast cancer whose disease progressed after at least one endocrine therapy, using an FDA-authorized test to detect ESR1 mutation.

When will VEPPANU be commercially available under Rigel (RIGL)?

Rigel expects VEPPANU to become commercially available in August. According to Rigel, this follows the effective date of the license agreement on June 11, 2026 and completion of a $70 million upfront payment to Arvinas and Pfizer under the licensing arrangement.

What are the key safety warnings for VEPPANU (vepdegestrant) breast cancer treatment?

VEPPANU carries warnings for QTc interval prolongation and embryo-fetal toxicity. According to Rigel, patients require ECG monitoring, electrolyte management, contraception during treatment and two weeks after, and avoidance of strong CYP3A inhibitors, inducers, and other QT-prolonging drugs when possible to manage safety risks.

What adverse reactions were observed with VEPPANU in clinical use?

VEPPANU was associated with serious adverse reactions in 9% and fatal reactions in 1% of patients. According to Rigel, 2.9% discontinued permanently due to adverse reactions, 14% had dose interruptions, and 1.9% required dose reductions during treatment for advanced breast cancer.

What are the most common side effects of VEPPANU reported by Rigel?

Common side effects include blood count changes, liver enzyme increases, musculoskeletal pain, fatigue and nausea. According to Rigel, at least 10% of patients experienced events such as decreased white blood cells, increased AST and ALT, decreased hemoglobin, QT prolongation, and constipation, among others.

Are there important drug interactions to consider with VEPPANU therapy?

VEPPANU has significant interactions with CYP3A modulators and certain substrates. According to Rigel, strong CYP3A inhibitors or inducers should generally be avoided, with dose adjustments if unavoidable, and caution is advised with specific P-gp and UGT1A9 substrates and other QTc-prolonging medications.