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RIGL

Rigel Pharmaceuticals, Inc.

RIGL

Rigel Pharmaceuticals, Inc. • NASDAQ
$50.49 ▼ -0.92% (-0.47)
Market Cap $901.05 M
52w High $52.24
52w Low $14.63
Dividend Yield 0%
P/E 8.16
Volume 275.70K
Outstanding Shares 17.85M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $69.462M ▼ $36.289M ▲ $27.9M ▼ 40.166% ▼ $1.547 ▼ $30.117M ▼
Q2-2025 $101.685M ▲ $36.078M ▼ $59.613M ▲ 58.625% ▲ $3.33 ▲ $62.463M ▲
Q1-2025 $53.333M ▼ $36.151M ▲ $11.446M ▼ 21.461% ▼ $0.64 ▼ $13.968M ▼
Q4-2024 $57.596M ▲ $35.152M ▲ $14.341M ▲ 24.899% ▲ $0.81 ▲ $17.781M ▲
Q3-2024 $55.307M $33.225M $12.421M 22.458% $0.71 $15.092M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $137.143M ▲ $242.534M ▲ $124.925M ▲ $117.609M ▲
Q2-2025 $108.379M ▲ $206.736M ▲ $124.802M ▼ $81.934M ▲
Q1-2025 $77.099M ▼ $175.972M ▲ $157.405M ▼ $18.567M ▲
Q4-2024 $77.321M ▲ $163.976M ▲ $160.688M ▲ $3.288M ▲
Q3-2024 $61.114M $139.419M $154.055M $-14.636M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $27.9M ▼ $24.031M ▼ $-33.175M ▼ $4.271M ▲ $-4.873M ▼ $24.019M ▼
Q2-2025 $59.613M ▲ $30.537M ▲ $-23.276M ▼ $418K ▼ $7.679M ▲ $30.537M ▲
Q1-2025 $11.446M ▼ $-893K ▼ $-10.552M ▲ $484K ▼ $-10.961M ▼ $-893K ▼
Q4-2024 $14.341M ▲ $14.503M ▼ $-10.914M ▼ $1.465M ▲ $5.054M ▼ $14.477M ▼
Q3-2024 $12.421M $21.679M $3.802M $-9.842M $15.639M $21.669M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Contract revenues from collaborations
Contract revenues from collaborations
 $0 ▲$10.00M ▲$40.00M ▲$10.00M ▼
Discounts and allowances
Discounts and allowances
 $0 ▲$-20.00M ▼$-20.00M ▲$-20.00M ▲
Gross product sales
Gross product sales
 $120.00M ▲$60.00M ▼$80.00M ▲$90.00M ▲
Milestone
Milestone
 $0 ▲$0 ▲$0 ▲$0 ▲
Product sales net
Product sales net
 $80.00M ▲$40.00M ▼$60.00M ▲$60.00M ▲
License
License
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Rigel’s income statement shows a company that has recently crossed an important turning point. Revenue has trended upward over the last few years, with a clear step-up in the most recent year as product sales have gained traction. Gross profitability looks strong, suggesting that once drugs are on the market, they generate attractive margins. Historically, operating results and net income were in the red, which is common for biotech, but the latest year shows a shift into profitability. That said, the big improvement in earnings per share is also influenced by reverse stock splits, so the apparent jump in per‑share results overstates the underlying change in the business. Overall, it looks like a move from a development‑heavy, loss‑making profile toward a small but real commercial profit base.

Balance Sheet

Balance Sheet The balance sheet reflects a company recovering from a period of financial strain. Assets have inched up, and cash has improved from prior years, giving Rigel a somewhat better liquidity cushion than it had before. Debt remains meaningful relative to the size of the company and has not come down, which keeps financial leverage a key consideration. Equity moved from negative territory toward roughly break‑even, indicating that accumulated past losses are now being offset by recent profitability. In plain terms, the balance sheet is no longer as stressed as it was, but it is still relatively thin and sensitive to any setbacks in performance.

Cash Flow

Cash Flow Cash flow has improved meaningfully. A few years ago, the company was burning cash from operations, but more recently it has started to generate cash from its core business. Because capital spending is very low, free cash flow largely mirrors operating cash flow, which is now modestly positive. This means Rigel is less dependent on constant new financing to keep the lights on, a key milestone for any biotech. However, the cushion is not large, so sustained strong product performance and careful spending will remain important to keep cash flow positive over time.

Competitive Edge

Competitive Edge Rigel operates in focused niches within hematology and oncology, where it has carved out a differentiated position. Its lead ITP therapy uses a unique mechanism that targets immune‑driven platelet destruction, setting it apart from many competing approaches. The company has broadened beyond a single product into multiple approved therapies, which reduces dependence on any one drug and enhances its commercial footprint with specialists. Still, it competes against much larger pharmaceutical players with deeper resources and established oncology franchises. Payer dynamics, competing targeted therapies, and the small size of some patient populations all limit its bargaining power. Overall, Rigel has a credible niche presence and a more resilient product mix than before, but it remains a smaller player in a highly competitive, fast‑evolving market.

Innovation and R&D

Innovation and R&D Innovation is a core part of Rigel’s identity. The company has built expertise around kinase inhibition and has successfully turned that science into multiple approved, targeted therapies. Its pipeline includes a notable IRAK1/4 inhibitor aimed at blood disorders, with regulatory incentives such as orphan designation that can enhance potential value if trials succeed. Rigel is also working to extend the use of its existing drugs into new cancers, which can leverage prior investments and clinical experience. The flip side is that the business still depends heavily on ongoing R&D success: trial setbacks, safety concerns, or delays could quickly change the growth outlook. In short, the company looks scientifically capable and focused, but its future remains tightly linked to the outcome of a relatively small number of clinical programs.

Summary

Rigel appears to be in the midst of a transition from a classic early‑stage biotech—living on hope and dilution—to a small but sustainable commercial enterprise. Revenues and margins have strengthened, profitability has emerged, and cash flow has turned positive, easing some of the financial risk that was evident in earlier years. At the same time, the balance sheet is still lean, debt is not trivial, and prior reverse splits signal a history of share price pressure and volatility. Competitively, the company now has a diversified set of specialized therapies with defensible scientific underpinnings, but it operates in crowded, high‑stakes markets dominated by larger rivals and subject to clinical, regulatory, and reimbursement risk. Overall, Rigel shows meaningful operational and financial improvement, backed by a focused innovation engine, but its trajectory will remain highly sensitive to continued product uptake and the success of a concentrated pipeline.

NEWS

November 26, 2025 · 8:05 AM UTC

Rigel to Present at the Piper Sandler 37th Annual Healthcare Conference

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November 17, 2025 · 8:05 AM UTC

Rigel Announces Publication of Final 5-year Data on REZLIDHIA® (olutasidenib) in Patients with R/R mIDH1 AML in the Journal of Hematology & Oncology

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November 12, 2025 · 8:05 AM UTC

Rigel to Present at the Jefferies Global Healthcare Conference in London

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November 4, 2025 · 4:01 PM UTC

Rigel Reports Third Quarter 2025 Financial Results and Provides Business Update

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November 3, 2025 · 9:05 AM UTC

Rigel Announces One Oral and Four Poster Presentations at the 67th American Society of Hematology Annual Meeting and Exposition

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