Business
Rigel Reports Second Quarter 2023 Financial Results and Provides Business Update
Second quarter 2023 Total Revenue of $26.9 million which includes TAVALISSE® net product sales of $21.3 million and REZLIDHIA® net product sales of $2.6
About this update from Rigel Pharmaceuticals, Inc.
[{"type":"text","content":"Second quarter 2023 Total Revenue of $26.9 million which includes TAVALISSE® net product sales of $21.3 million and REZLIDHIA® net product sales of $2.6 million Development programs continue to advance with completion of target enrollment in cohort 2 of Phase 1b trial of R289 in lower-risk MDS and initiation of Phase 2a trial of R552 in rheumatoid arthritis by partner, Eli LillyConference call and webcast scheduled today at 4:30 p.m. Eastern TimeSOUTH SAN FRANCISCO, Calif., Aug. 1, 2023 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today reported financial results for the second quarter ended June 30, 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\"We are encouraged by the progress we made in the second quarter in building our hematology/oncology company,\" said Raul Rodriguez, Rigel's president and CEO. \"We delivered strong year-over-year revenue growth for TAVALISSE in ITP and hired our dedicated institutional sales team to drive our commercial launch of REZLIDHIA with a focus on awareness and education with healthcare professionals. We also continued to advance our current development programs while evaluating opportunities to expand our hematology/oncology business through internal and external opportunities.\"\nBusiness Update\nIn the second quarter of 2023, a total of 2,191 bottles of TAVALISSE were sold in the U.S. During the quarter, 2,265 bottles were shipped directly to patients and clinics, representing the highest number of bottles shipped to patients and clinics in a quarter since launch.During the second full quarter of launch, a total of 200 bottles of REZLIDHIA were sold in the U.S., representing a 77% increase over Q1 2023. Of those bottles, 187 were shipped directly to patients and clinics.In June, Rigel presented promising data from an analysis of the Phase 2 clinical trial evaluating REZLIDHIA in 17 patients with mIDH1 AML who were relapsed/refractory to prior venetoclax-based regimens at ...