Rigel Pharmaceuticals ( (RIGL) ) has released its Q2 earnings. Here is a breakdown of the information Rigel Pharmaceuticals presented to its investors.
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Rigel Pharmaceuticals, Inc. is a biotechnology company based in South San Francisco, specializing in the discovery, development, and commercialization of innovative therapies for hematologic disorders and cancer. The company is known for its focus on hematology and oncology, with a pipeline of products aimed at addressing unmet medical needs in these areas.
In its second-quarter 2025 financial report, Rigel Pharmaceuticals announced a total revenue of approximately $101.7 million, driven by significant growth in net product sales and contract revenues from collaborations. The company also reported a net income of $59.6 million for the quarter, showcasing a strong financial performance.
Key highlights from the report include a 76% increase in net product sales year-over-year, with TAVALISSE, GAVRETO, and REZLIDHIA contributing significantly to this growth. Rigel also completed enrollment in the dose escalation part of its Phase 1b study for R289, a dual IRAK1/4 inhibitor, in patients with relapsed or refractory lower-risk myelodysplastic syndrome (MDS). Additionally, Rigel’s collaboration with Eli Lilly resulted in $40 million in non-cash contract revenue.
Looking ahead, Rigel has updated its 2025 revenue guidance to a range of $270 to $280 million, reflecting increased expectations for net product sales and contract revenues. The company remains optimistic about its financial outlook and plans to continue advancing its clinical development programs while maintaining positive net income for the year.
Overall, Rigel Pharmaceuticals is poised for continued growth and development in the biotechnology sector, with a strong focus on expanding its commercial business and advancing its innovative pipeline of therapies.