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Rigel

🇺🇸 NASDAQ:RIGL

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Overview Earnings Dividends

Aug 01, 2023

•

Jun 30, 2023

Rigel Q2 2023 Earnings Report

Rigel reported financial results for the second quarter, featuring growth in TAVALISSE sales and progress in commercializing REZLIDHIA.

Key Takeaways

Rigel Pharmaceuticals reported a net loss of $6.6 million for the second quarter of 2023, with total revenues of $26.9 million. TAVALISSE net product sales increased by 15% year-over-year, and the company continued to advance its development programs.

Delivered strong year-over-year revenue growth for TAVALISSE in ITP.

Hired dedicated institutional sales team to drive commercial launch of REZLIDHIA.

Advanced current development programs.

Evaluated opportunities to expand hematology/oncology business through internal and external opportunities.

Total Revenue

$26.9M

Previous year: $29.8M

-9.8%

EPS

-$0.4

Previous year: -$0.8

-50.0%

TAVALISSE net product sales

$21.3M

Previous year: $18.6M

+14.5%

REZLIDHIA net product sales

$2.6M

Gross Profit

$25.8M

Previous year: $28.8M

-10.3%

Cash and Equivalents

$48.8M

Previous year: $89.2M

-45.3%

Total Assets

$64.4M

Previous year: $128M

-49.7%

Rigel

Rigel Revenue by Segment

Revenue by Segment

Contract revenues from collaborations Revenue

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