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Rigel Pharmaceuticals — Third Quarter 2026 Earnings Summary

  • Total Q3 2026 revenue rose 16.6% year-over-year to $80.9 million ($72.3M net product sales, $8.6M contract revenue), though net income declined to $13.2 million from $27.9 million in Q3 2025 due to higher R&D and commercial expenses; full-year 2026 revenue guidance was raised to $290–$295 million.
  • New product VEPPANU generated $6.6 million in initial sales following its August 2026 launch, while TAVALISSE and REZLIDHIA grew 15% and 25% respectively over the nine-month period; GAVRETO sales declined 6% year-over-year.
  • Updated 2026 contract revenue guidance increased to $35 million (from $30 million), and the company anticipates reporting positive net income for the full year while funding clinical programs.
  • Strategic progress includes Knight Therapeutics' regulatory approval and commercial launch of TAVALISSE in Brazil, positive clinical data for GAVRETO in thyroid cancer, and enrollment completion expected for the R289 Phase 1b study by year-end.
Company
RIGEL PHARMACEUTICALS INC
Sector
Healthcare
Industry
Biotechnology