Rigel Q4 2020 Earnings Report
Key Takeaways
Rigel Pharmaceuticals reported Q4 2020 financial results, including a net loss of $19.2 million, or $0.11 per share. Total revenues were $18.5 million, with TAVALISSE net product sales increasing by 28% to $17.8 million.
Expanded global ITP reach and positioned for potential success in wAIHA.
Announced a major collaboration with Lilly to develop RIP1 inhibitors.
Launched a comprehensive COVID-19 clinical program with support from the NIH, DOD, and several universities.
Continued to explore opportunities in immunology and heme-onc with the IRAK 1/4 inhibitor program.
Rigel
Rigel
Forward Guidance
This release contains forward-looking statements relating to, among other things, the commercial success of TAVALISSE in the U.S. and TAVLESSE in Europe; Rigel’s ability to achieve development, regulatory and commercial milestone payments, as well as tiered royalties; Rigel’s expected operating results for the year ending and as of December 31, 2020, including net sales and cash, cash equivalents and short-term investments; expectations related to the market opportunity for fostamatinib as a COVID-19 therapeutic; Rigel’s ability to further develop its clinical stage product candidates; and Rigel's partnering efforts.