Business
Rigel Reports Second Quarter 2024 Financial Results and Provides Business Update
Second quarter total revenue of $36.8 million, which includes TAVALISSE® net product sales of $26.4 million, REZLIDHIA® net product sales of $5.2 million and
About this update from Rigel Pharmaceuticals, Inc.
[{"type":"text","content":"Second quarter total revenue of $36.8 million, which includes TAVALISSE® net product sales of $26.4 million, REZLIDHIA® net product sales of $5.2 million and GAVRETO® net product sales of $1.9 millionSuccessfully completed NDA transfer of GAVRETO for the treatment of RET fusion-positive metastatic non-small cell lung cancer and advanced or metastatic thyroid cancer, with product available from Rigel beginning June 27, 2024Conference call and webcast scheduled today at 4:30 p.m. Eastern TimeSOUTH SAN FRANCISCO, Calif., Aug. 6, 2024 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL), a commercial stage biotechnology company focused on hematologic disorders and cancer, today reported financial results for the second quarter ended June 30, 2024, including sales of TAVALISSE® (fostamatinib disodium hexahydrate) for the treatment of chronic immune thrombocytopenia (ITP); REZLIDHIA® (olutasidenib) for the treatment of relapsed or refractory (R/R) mutated isocitrate dehydrogenase-1 (mIDH1) acute myeloid leukemia (AML); and GAVRETO® (pralsetinib) for the treatment of metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer (NSCLC) and advanced or metastatic thyroid cancer, and recent business progress.\n\"In the second quarter, we advanced key strategic initiatives including the successful transfer of GAVRETO to our commercial portfolio, enabling us to bring this important treatment option to current and newly prescribed patients without interruption,\" said Raul Rodriguez, Rigel's president and CEO. \"The addition of GAVRETO, combined with record revenues from TAVALISSE and REZLIDHIA, has allowed us to approach net income break even. We look to maintain our financial discipline as we expand our commercial reach and advance our development programs.\" \nSecond Quarter 2024 Business UpdateCommercial Update\nCommercial strength continues with record TAVALISSE and REZLIDHIA bottles shipped to patients and clinics and total bottles sold.In June 2024, Rigel announced the completion of the transfer of the New Drug Application (NDA) for the U.S. rights to GAVRETO. GAVRETO became commercially available from Rigel in the U.S. beginning June 27, 2024, ahead of the company's July 1 target for commercial availability.The following table summarizes total bottles shipped for the second quarter:TAVALISSE\nREZLI...