Rigel Q4 2019 Earnings Report
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.
Rigel
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Rigel Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income