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Dec 31, 2019
Rigel Q4 2019 Earnings Report
Rigel reported financial results for the fourth quarter and full year ended December 31, 2019.
Key Takeaways
Rigel reported fourth quarter total revenues of $15.4 million, with net product sales of $13.8 million. The company's net loss for the quarter was $17.2 million, or $0.10 per share.
Fourth quarter total revenues were $15.4 million.
Fourth quarter net product sales were $13.8 million, a 90% increase compared to the same period in 2018.
Net loss for the fourth quarter of 2019 was $17.2 million, or $0.10 per share.
Rigel received a $20.0 million payment from Grifols in the first quarter of 2020 for European approval of fostamatinib.
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CapyFin.com Forward Guidance
Rigel is focused on driving shareholder value and expanding the range of TAVALISSE indications. The company is also exploring partnership opportunities for its early-stage candidates.
Positive Outlook
- Substantial opportunities for TAVALISSE to meet patient needs in the growing adult chronic ITP market, particularly as an early line therapy.
- Utilization in less refractory patients continues to grow with the support of ongoing physician education and data generation.
- A Phase 3 trial in warm AIHA is being conducted, with patient enrollment expected to be completed midyear.
- Potential of early-stage candidates is high with exploration of partnership opportunities.
- Expanding patient and prescriber base for TAVALISSE and the growing persistency rate for refills at month 4, which is approximately 54%.
Challenges Ahead
- Risks and uncertainties associated with the commercialization and marketing of TAVALISSE.
- Risks that the FDA, EMA or other regulatory authorities may make adverse decisions regarding fostamatinib.
- Risks that TAVALISSE clinical trials may not be predictive of real-world results or of results in subsequent clinical trials.
- Risks that TAVALISSE may have unintended side effects, adverse reactions or incidents of misuses.
- Market competition.