#United States #South San Francisco #Rigel Pharmaceuticals #R289 #TAVALISSE

Rigel Pharmaceuticals Reports Third Quarter 2025 Financial Results

Rigel Pharmaceuticals, Inc., a prominent player in the biotechnology industry focused on hematologic disorders and cancer, recently announced its financial performance for the third quarter of 2025. The results reveal that the company achieved total revenues of approximately $69.5 million, which included record net product sales totaling $64.1 million and collaboration contract revenues of $5.4 million.

Revenue Highlights

In comparison to Q3 of 2024, Rigel experienced remarkable growth in its net product sales—an increase of 65% from $38.9 million to $64.1 million. A notable contributor to this achievement was the strong sales from Rigel's key medications. Specifically, TAVALISSE (fostamatinib disodium hexahydrate) net sales amounted to $44.7 million, showcasing a 70% increase year-over-year. Moreover, GAVRETO (pralsetinib) net sales grew by 56% to $11.1 million, while REZLIDHIA (olutasidenib) achieved sales of $8.3 million, up by 50% from the previous year's figures.

With a net income of $27.9 million for the third quarter, juxtaposed with $12.4 million from Q3 2024, Rigel demonstrated a significant ability to turn its sales growth into profitability. The earnings per share came in at $1.55, highlighting the company's improving financial health.

Clinical and Business Developments

Rigel Pharmaceuticals is not only thriving commercially but also making strides in clinical development. The company has completed enrollment in the dose escalation phase of its ongoing Phase 1b study of R289, a dual IRAK1/4 inhibitor, targeting lower-risk myelodysplastic syndrome (MDS). October marked the initiation of the dose expansion phase of this critical study, with the first patient enrolled recently.

The upcoming ASH Annual Meeting, scheduled for December, will feature an oral presentation detailing the latest data from the Phase 1b study of R289. The preliminary results indicate promising tolerability and efficacy, fulfilling an urgent need for new treatment options for patients with lower-risk MDS who have limited responses to existing therapies.

In addition to this advancement, Rigel is actively participating in various collaborations. The company continues to work closely with Eli Lilly and Company regarding the development of ocadusertib, an investigational kinase inhibitor. Rigel is set to earn milestone and royalty payments on the product's future net sales.

However, it’s worth noting that Lilly has decided to terminate the central nervous system disease program related to their collaboration, effective 60 days post-notification.

Future Outlook

Looking forward to the end of 2025, Rigel is raising its revenue guidance to a range of $285 to $290 million, up from an earlier estimate of $270 to $280 million. This projection anticipates net product sales of approximately $225 to $230 million and contract revenues from collaborations totaling about $60 million.

The continued positive trajectory of Rigel's income reflects its success in launching and promoting key therapies. As the company funds both existing and new clinical development initiatives, the stakeholders can expect Rigel to maintain its focus on advancing therapies that cater to pressing medical needs in the hematology and oncology fields.

In conclusion, Rigel Pharmaceuticals impressively navigated Q3 2025, significantly bolstering its financial results and advancing its strategic goals. With a robust product portfolio and promising clinical trials on the horizon, Rigel remains a key player to watch in the biotechnology sector.