Shares of Rigel Pharmaceuticals (RIGL) skyrocketed 21.32% in Tuesday's trading session following the release of the company's impressive third-quarter results and upgraded full-year guidance. The biopharmaceutical company's strong performance was driven by robust product sales and better-than-expected revenue figures, igniting investor enthusiasm.
Rigel reported total revenue of $69.5 million for Q3 2025, significantly beating analyst expectations of $61.9 million. The company's net product sales showed remarkable growth, increasing by 65% year-over-year to reach $64.1 million. This growth was primarily fueled by strong performances from key products TAVALISSE, GAVRETO, and REZLIDHIA. Additionally, Rigel's net income for the quarter rose to $27.9 million, more than doubling from $12.4 million in the same period last year.
In light of these strong results, Rigel has raised its full-year 2025 revenue guidance. The company now expects total revenue to be between $285 million and $290 million, up from the previous forecast of $270-$280 million. Net product sales are anticipated to reach $225-$230 million, with contract revenues from collaborations expected to contribute approximately $60 million. This positive outlook, coupled with the company's progress in its R289 study for lower-risk MDS, has bolstered investor confidence in Rigel's growth trajectory and contributed to the stock's significant surge.
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