Welcome to our dedicated page for Rigel Pharmaceuticals news (Ticker: RIGL), a resource for investors and traders seeking the latest updates and insights on Rigel Pharmaceuticals stock.
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) is a commercial stage biotechnology company based in South San Francisco, California, focused on therapies for hematologic disorders and cancer. This news page aggregates company announcements, financial updates and clinical data disclosures so readers can follow Rigel’s progress across its marketed products and development pipeline.
Rigel’s news flow frequently covers net product sales and total revenue from its hematology and oncology portfolio, including TAVALISSE (fostamatinib disodium hexahydrate), GAVRETO (pralsetinib) and REZLIDHIA (olutasidenib). Press releases detail quarterly and preliminary annual revenue, contract revenues from collaborations and government contracts, and commentary from management on commercial execution and financial performance.
Clinical and regulatory milestones are another major focus of Rigel’s news. Updates describe Phase 1b data for the investigational IRAK1/4 dual inhibitor prodrug R289 in relapsed or refractory lower-risk myelodysplastic syndrome, including safety, tolerability, pharmacokinetics and measures such as red blood cell transfusion independence. The company also reports on long-term and real-world data for REZLIDHIA in mIDH1 acute myeloid leukemia, and on presentations of pralsetinib data in RET fusion-positive solid tumors at oncology conferences.
Rigel’s releases highlight participation in scientific and investor meetings, such as the American Society of Hematology Annual Meeting and Exposition, the American Society of Clinical Oncology – Gastrointestinal Cancers Symposium, and major healthcare investment conferences. Corporate news can also include collaboration updates, such as developments in the ocadusertib program with Eli Lilly and Company, and stock-based inducement grants under Nasdaq Listing Rule 5635(c)(4).
Investors, clinicians and researchers can use this RIGL news feed to monitor earnings announcements, pipeline readouts, regulatory designations and conference presentations that shape the company’s trajectory in hematology and oncology.
Rigel Pharmaceuticals (RIGL) reported Q1 2021 financial results, showing net income of $39.5 million ($0.23 per share), an increase from $21.2 million in Q1 2020. Total revenues reached $81.0 million, primarily from contract revenues with Eli Lilly. TAVALISSE sales decreased 2% year-over-year to $12.4 million. The company announced positive Phase 2 trial data for fostamatinib in COVID-19 patients and a $16.5 million DOD funding for its Phase 3 study. Rigel also received a $125 million upfront payment from Eli Lilly for their collaboration on the RIP1 inhibitor program.
Rigel Pharmaceuticals, Inc. (Nasdaq:RIGL) will announce its first quarter 2021 financial results after market close on May 5, 2021. A live conference call and webcast will follow at 4:30 PM ET, where senior management will discuss the results and provide a business update. Participants can join the call by dialing 877-407-3088 (domestic) or 201-389-0927 (international). Rigel focuses on developing small molecule drugs for hematologic disorders and cancer, with its first product, TAVALISSE, already in market.
Rigel Pharmaceuticals (Nasdaq: RIGL) reported positive topline results from a Phase 2 clinical trial of fostamatinib, its SYK inhibitor, for hospitalized COVID-19 patients. The trial met its primary safety endpoint, halving the incidence of Serious Adverse Events (SAEs) compared to placebo. Key findings include zero deaths in the fostamatinib group versus three in placebo, and a four-day reduction in ICU stay. Rigel plans to pursue emergency use authorization (EUA) from the FDA based on these results, highlighting fostamatinib's potential to improve outcomes in severe COVID-19 cases.
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) announced the closing of a global exclusive license agreement with Eli Lilly on April 7, 2021. This strategic collaboration aims to co-develop Rigel's RIPK1 inhibitor, R552, for various autoimmune and inflammatory diseases. Effective March 27, 2021, Rigel received a $125 million upfront payment from Lilly. Lilly will oversee clinical development for CNS diseases. Rigel is also advancing its investigational product, fostamatinib, currently in multiple clinical trials for conditions including COVID-19 and autoimmune diseases.
Rigel Pharmaceuticals (Nasdaq: RIGL) has completed patient enrollment in a Phase 2 clinical trial evaluating fostamatinib, an oral spleen tyrosine kinase inhibitor, for hospitalized COVID-19 patients. This NIH-sponsored study, conducted at major clinical centers, involves 58 patients and aims to assess safety and efficacy through various endpoints over 60 days. Results are expected in April 2021. Fostamatinib is already approved for chronic immune thrombocytopenia treatment and may address complications from COVID-19, including thromboinflammation.
Rigel Pharmaceuticals (RIGL) reported its financial results for Q4 and the full year 2020, showing total revenues of $108.6 million, a significant increase from $59.3 million in 2019. TAVALISSE net sales reached $61.7 million, up 41% year-over-year. Despite the revenue growth, Rigel faced a net loss of $29.7 million for the year. Key developments included a $125 million collaboration with Eli Lilly for RIP1 inhibitors and ongoing clinical trials for fostamatinib, including for COVID-19 and warm autoimmune hemolytic anemia. The company ended the year with $57.3 million in cash and equivalents.
Rigel Pharmaceuticals, Inc. (Nasdaq:RIGL) will disclose its fourth quarter and year-end 2020 financial results on March 2, 2021, after market close. A conference call will follow at 4:30 PM ET, with live access provided via phone or webcast on the company’s website. Rigel focuses on developing small molecule drugs for hematologic disorders, cancer, and rare immune diseases, including its FDA-approved product TAVALISSE. Ongoing clinical trials include studies for conditions like warm autoimmune hemolytic anemia and COVID-19.
Eli Lilly and Rigel Pharmaceuticals have announced a global exclusive license agreement to co-develop Rigel's RIPK1 inhibitor, R552, targeting autoimmune and inflammatory diseases. Lilly will make an upfront payment of $125 million and could pay up to $835 million in milestone payments, plus royalties. R552 has completed Phase 1 trials and will enter Phase 2 trials in 2021. Lilly will lead clinical development and commercialization efforts, while Rigel retains co-commercialization rights in the U.S. This partnership seeks to advance treatments in both immune and CNS disease areas.
Rigel Pharmaceuticals has received $16.5 million from the U.S. Department of Defense to support a Phase 3 clinical trial for fostamatinib in hospitalized COVID-19 patients. This funding is aimed at evaluating the drug's safety and efficacy, following data from a Phase 2 trial expected in April 2021. The trial will enroll over 300 patients and could lead to an Emergency Use Authorization for this treatment. Fostamatinib is already approved for chronic immune thrombocytopenia, indicating a repurposing of an existing drug to expedite treatment options for COVID-19.
Rigel Pharmaceuticals (Nasdaq: RIGL) announced a business update on January 11, 2021, highlighting key metrics from 2020. TAVALISSE sales increased by 41% year-over-year, reaching approximately $17.7 million in Q4 2020. The FDA granted Fast Track designation for wAIHA, and ongoing clinical trials for COVID-19 are progressing, with results expected in April. However, cash reserves decreased to $57.3 million from $98 million the previous year, raising concerns about long-term financial stability.
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