When I first covered Rigel Pharmaceuticals (NASDAQ: RIGL ) back in April, I felt that they were considerably undervalued considering their then-recent acquisition of an important lung cancer targeted therapy, in addition to having an important IDH1 inhibitor growingI have my PhD in biochemistry and have worked for years analyzing clinical trials and biotech companies. It is my passion to educate everyone possible on the science behind the businesses that we invest in, and it's my mission to help you do your ...

Shares of Rigel Pharmaceuticals (RIGL) have gained 53.5% over the past four weeks to close the last trading session at $22.74, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $29.17 indicates a potential upside of 28.3%.The mean estimate comprises six short-term price targets with a standard deviation of $18.89. While the lowest estimate of $14 indicates a 38.4% decline from the ...

Company Overview - Rigel Pharmaceuticals, Inc. is a commercial stage biotechnology company focused on hematologic disorders and cancer [1][3] - The company was founded in 1996 and is based in South San Francisco, California [3] Upcoming Event - Dean Schorno, the chief financial officer of Rigel, will present a company overview at the Jefferies London Healthcare Conference on November 19, 2024, at 9:30 am GMT (4:30 am EST) [1] Investor Relations - Investors can access the live webcast or archived recording of the presentation through the Investor Relations section of Rigel's website [2]

Financial Data and Key Metrics Changes - In Q3 2024, Rigel Pharmaceuticals reported total net sales of $38.9 million, representing a 44% increase compared to Q3 2023 [9][52] - The company achieved a net income of $12.4 million in Q3 2024, compared to a net loss of $5.7 million in the same period in 2023 [58] - Cash, cash equivalents, and short-term investments increased to $61.1 million from $49.1 million [58] Business Line Data and Key Metrics Changes - TAVALISSE generated $26.3 million in net product sales in Q3 2024, an 8% increase from $24.5 million in Q3 2023 [52] - REZLIDHIA achieved net product sales of $5.5 million in Q3 2024, a 107% increase compared to $2.7 million in Q3 2023 [52] - GAVRETO, in its first full quarter, generated $7.1 million in net product sales [52] Market Data and Key Metrics Changes - Rigel expanded its product presence outside the US with a new agreement with Kissei to develop and commercialize REZLIDHIA in Japan, Korea, and Taiwan, including a $10 million upfront payment [10] - The company shipped 2,793 bottles of TAVALISSE, 444 bottles of REZLIDHIA, and 752 bottles of GAVRETO in Q3 2024 [50][51] Company Strategy and Development Direction - Rigel's corporate strategy focuses on expanding its commercial portfolio, advancing its pipeline through collaborations and internal development, and maintaining financial discipline [8][63] - The company aims to become self-sustaining and reinvest in its development pipeline, with plans to discuss development plans for R289 and olutasidenib in 2025 [63] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's growth trajectory, highlighting strong commercial execution and the successful transition of GAVRETO into Rigel's portfolio [14][60] - The company is well-positioned to continue driving value as it heads into 2025, with expectations for continued revenue growth [15][63] Other Important Information - Rigel is advancing the development of R289, a dual IRAK1/4 inhibitor, in a Phase 1b study for lower-risk MDS, with initial safety and efficacy data to be presented at the ASH meeting [11][32] - The company is exploring opportunities to in-license or acquire late-stage hematology and oncology assets to further expand its portfolio [13][35] Q&A Session Summary Question: Can you provide more color on TAVALISSE regarding the balance between refills and new prescriptions? - Management indicated that the majority of TAVALISSE's business comes from carryover, with growth from both new patient starts and existing patients [67][68] Question: What is the status of GAVRETO orders from top centers? - Management noted that a handful of top centers have not placed orders yet, but overall business through specialty pharmacies is improving [70][71] Question: How much of a stocking benefit was there during the initial phase of GAVRETO's launch? - Management clarified that the majority of Q3 sales were true demand, with some initial stocking contributing to sales figures [75][76] Question: What is the bar for success for R289 in lower-risk MDS? - Management expressed excitement about the data and indicated that the study is unique in enrolling relapsed/refractory patients, which could differentiate it from existing treatments [82][84] Question: How does Rigel's R289 compare to other IRAK inhibitors? - Management highlighted that R289 is a dual IRAK1 and 4 inhibitor, which may provide more profound inhibition of inflammatory cytokines compared to other single-target inhibitors [90]

1 Q3 2024 Financial Results Presentation November 7, 2024 Forward Looking Statements 2 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1955 ("PSLRA") relating to, among other things, expected commercial and financial results; Rigel's ability to earn and receive milestone payments; expectations related to the potential and market opportunity of REZLIDHIA® (olutasidenib) as therapeutics for relapsed or refractory acute myeloid leukemi ...

Rigel Pharmaceuticals (RIGL) came out with quarterly earnings of $0.70 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to loss of $0.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6,900%. A quarter ago, it was expected that this drug developer would post a loss of $0.37 per share when it actually produced a loss of $0.06, delivering a surprise of 83.78%.Over the last four quarters, the com ...

Exhibit 99.1 Rigel Reports Third Quarter 2024 Financial Results and Provides Business Update · Third quarter total revenue of $55.3 million, which includes TAVALISSE net product sales of $26.3 million, REZLIDHIA net product sales of $5.5 million and GAVRETO net product sales of $7.1 million · Entered into an agreement with Kissei to develop and commercialize REZLIDHIA in all potential indications in Japan, the Republic of Korea and Taiwan, recording an upfront cash payment of $10.0 million during the third ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 0-29889 Rigel Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) Delaware 94-3248524 ...

Third quarter total revenue of $55.3 million, which includes TAVALISSE® net product sales of $26.3 million, REZLIDHIA® net product sales of $5.5 million and GAVRETO® net product sales of $7.1 million Entered into an agreement with Kissei to develop and commercialize REZLIDHIA in all potential indications in Japan, the Republic of Korea and Taiwan, recording an upfront cash payment of $10.0 million during the third quarter Initial data from the ongoing Phase 1b study evaluating R289, a dual IRAK1/4 inhibit ...

-    Initial data from the ongoing Phase 1b study evaluating R289, a dual IRAK1/4 inhibitor, in LR-MDS-    Additional data for REZLIDHIA® (olutasidenib) in patients with mIDH1 AML and MDSSOUTH SAN FRANCISCO, Calif., Nov. 5, 2024 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL), a commercial stage biotechnology company focused on hematologic disorders and cancer, today announced upcoming presentations of six posters highlighting data from their commercial and clinical-stage hematology-oncology port ...