Rigel Pharmaceuticals Inc. reported its financial results for the second quarter of 2025, with total revenue reaching approximately $101.7 million. This includes net product sales of $58.9 million, marking a significant 76% increase from the same period in 2024. The company also generated $42.7 million in contract revenues from collaborations. Rigel's net income for the quarter was $59.6 million, or $3.33 per basic share and $3.28 per diluted share, a substantial improvement from a net loss of $1.0 million, or $0.06 per basic and diluted share, in the second quarter of 2024. The company's cash, cash equivalents, and short-term investments increased to $108.4 million as of June 30, 2025, compared to $77.3 million at the end of 2024. The company provided an updated 2025 outlook, projecting total revenue of approximately $270 to $280 million, with anticipated net product sales between $210 to $220 million. Total revenue and net income figures include $40 million in non-cash contract revenue related to Rigel's agreement with Lilly. In its business update, Rigel highlighted the completion of enrollment in the dose escalation part of its Phase 1b study evaluating R289, a dual IRAK1/4 inhibitor, in patients with relapsed or refractory lower-risk MDS. The company plans to share updated data and initiate the dose expansion part of the study later this year.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rigel Pharmaceuticals Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: SF44311) on August 05, 2025, and is solely responsible for the information contained therein.
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