Rigel Pharmaceuticals, Inc. Earnings Summary — Q1 FY2026

• Net product sales grew 26% year-over-year to $54.9 million, led by TAVALISSE and REZLIDHIA performance.
• The company maintained its net income position for the quarter, reporting $8.7 million compared to $11.4 million in the prior year period.
• Operating expenses increased to $46.9 million from $40.6 million, primarily due to higher R&D investment for the R289 program and GAVRETO commercialization costs.
• The balance sheet remains strong with $146.7 million in cash and short-term investments, supporting a 12-month liquidity runway.
• Contract revenues saw a decline to $3.9 million from $9.8 million YoY, as the prior period benefited from higher milestone achievements.
• Rigel continues to expand its oncology footprint following the June 2024 launch of GAVRETO in the US.

Management believes existing cash, cash equivalents, and short-term investments will be sufficient to fund expenses and capital requirements for at least the next 12 months.

Stable

Rigel continues its transition from a clinical research entity to a sustainably profitable commercial-stage firm, though YoY comparisons were dampened by lower collaboration revenue.

The company is focused on operational excellence and expanding the market penetration of its three FDA-approved products while advancing the R289 program in lower-risk MDS.