Quarterly ResultMay 5, 2026, 04:14 PM
Rigel Q1 Total Revenue $58.8M; Net Income $8.7M
AI Summary
Rigel Pharmaceuticals reported Q1 2026 total revenues of $58.8 million and net income of $8.7 million. Net product sales increased 26% year-over-year to $54.9 million, driven by growth across TAVALISSE, GAVRETO, and REZLIDHIA. The company reaffirmed its full-year 2026 total revenue guidance of $275 million to $290 million and expects positive net income. Additionally, Rigel restructured its credit facility and announced the termination of a collaboration agreement with Eli Lilly and Company.
Key Highlights
- Q1 2026 total revenues reached $58.8 million.
- Q1 2026 net product sales were $54.9 million, a 26% increase from Q1 2025.
- Reported Q1 2026 net income of $8.7 million.
- Restructured credit relationship to a $40.0 million revolving credit facility.
- Repaid $40.0 million outstanding term loan and drew $8.0 million on new facility.
- Reaffirmed 2026 total revenue guidance of $275 million to $290 million.
- Reaffirmed 2026 net product sales guidance of $255 million to $265 million.
- Cash, cash equivalents, and short-term investments were $146.7 million as of March 31, 2026.
Price Impact
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