Business
Rigel Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update
Fourth quarter 2023 Total Revenue of $35.8 million which includes TAVALISSE® net product sales of $25.7 million and REZLIDHIA® net product sales of $3.9
About this update from Rigel Pharmaceuticals, Inc.
[{"type":"text","content":"Fourth quarter 2023 Total Revenue of $35.8 million which includes TAVALISSE® net product sales of $25.7 million and REZLIDHIA® net product sales of $3.9 millionExpanded product portfolio with acquisition of U.S. rights to GAVRETO®, an FDA approved targeted therapy for the treatment of RET fusion-positive metastatic non-small cell lung cancer and advanced or metastatic thyroid cancer Conference call and webcast scheduled today at 4:30 p.m. Eastern TimeSOUTH SAN FRANCISCO, Calif., March 5, 2024 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today reported financial results for the fourth quarter and full year ended December 31, 2023, including sales of TAVALISSE® (fostamatinib disodium hexahydrate) tablets for the treatment of adults with chronic immune thrombocytopenia (ITP) who have had an insufficient response to a previous treatment and sales of REZLIDHIA® (olutasidenib) capsules for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test.\n\"In 2023, fueled by increased physician awareness and adoption for both TAVALISSE and REZLIDHIA, we achieved net product sales of $104.3 million, an increase of 36% compared to 2022,\" said Raul Rodriguez, Rigel's president and CEO. \"We recently expanded our hematology and oncology portfolio with the addition of GAVRETO, a U.S. marketed product for the treatment of RET fusion-positive NSCLC. This addition is highly synergistic with our current portfolio and existing infrastructure, which we believe will further support top line growth. In 2024, we are focused on commercial expansion and execution, while advancing our pipeline with more strategic collaborations like MD Anderson and CONNECT.\"\nBusiness Update\nIn the fourth quarter of 2023, we achieved the highest number of TAVALISSE bottles shipped to patients and clinics in a quarter since launch. A total of 2,671 bottles were sold in the U.S., 2,463 of which were shipped directly to patients and clinics. For the full year ended December 31, 2023, 9,396 bottles of TAVALISSE were shipped directly to patients and clinics, representing an increase of 16% compared to 2022.During the fourth quarter of 2023, we achieved 47% growth in total REZLIDHIA bottles sold compared to the third quarter of 20...