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Rigel Pharmaceuticals Reports Third Quarter 2026 Financial Results

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL), a biotechnology company focused on hematologic disorders and oncology, has released its financial results for the third quarter of 2026, revealing robust performance in revenue and significant driver in product sales. Total revenues reached an impressive $80.9 million, supported by net product sales of $72.3 million and collaboration contract revenues totaling $8.6 million.

Key Highlights from Q3 2026

Financial Overview

In comparison to the same period in 2025, Rigel reported a notable increase of 13% in net product sales. The company attributed this growth primarily to the successful launch of its latest product, VEPPANU™ (vepdegestrant), which was commercially available in mid-August of this year. VEPPANU generated initial net product sales of $6.6 million in just six weeks post-launch. Rigel's president and CEO, Raul Rodriguez, expressed his enthusiasm regarding VEPPANU’s launch, emphasizing its transformational potential for the company and the positive initial uptake.

Product Sales Breakdown

The quarterly financial results showcased that Rigel's leading product, TAVALISSE® (fostamatinib disodium hexahydrate), achieved net product sales of $46.0 million, reflecting a modest increase of 3% compared to the previous year. Additionally, REZLIDHIA® (olutasidenib) reported sales of $9.9 million, which indicates a 20% increase from the previous year, while GAVRETO® (pralsetinib) saw a slight decrease in sales, earning $9.8 million this quarter.

Clinical Development Updates

Rigel is currently advancing its clinical pipeline, particularly focusing on its Phase 1b study of R289, a dual IRAK1/4 inhibitor aimed at treating patients with lower-risk myelodysplastic syndrome (MDS). The company anticipates identifying the recommended Phase 2 dose for R289 by the end of this year. Key updated data from this study will be shared at the upcoming ASH Annual Meeting in December, alongside other important presentations concerning ongoing clinical trials.

Comprehensive Revenue Outlook for 2026

Looking ahead, Rigel has updated its revenue guidance for the year, predicting total revenues between $290 to $295 million. This forecast includes projected net product sales of $255 to $260 million, excluding VEPPANU, and contract revenues near $35 million. Furthermore, Rigel anticipates closing the year with positive net income while continuing to fund both existing and new clinical development programs.

Conference Call and Future Plans

Rigel held a live conference call simultaneously with the release of its earnings report, allowing investors and stakeholders to gain direct insights into the company’s strategies and future aspirations. The call highlighted Rigel’s commitment to expanding its product portfolio and enhancing shareholder value through innovative therapies that significantly improve patient outcomes.

Rigel Pharmaceuticals remains steadfast in its mission to address unmet medical needs in hematologic disorders and cancer treatment pathways. As developments unfold, the biopharmaceutical community looks forward to further advancements stemming from Rigel’s research and clinical trials.

For continuous updates, interested individuals can stay connected through Rigel's Investor Relations webpage.