Rigel Q1 net loss $27.4M vs prior-year net income; TAVALISSE sales up 31%

RIGEL PHARMACEUTICALS INC

2022-Q1 EPS reported -$0.16 revenue$16,735,000

Net loss of $27.4M ($0.16/sh) vs net income of $39.5M ($0.23/sh) in Q1 2021.
Total revenues $16.7M: TAVALISSE net product sales $16.2M (+31% YoY); contract revenues $0.5M.
Cash and short-term investments $107.5M at March 31, down from $125.0M at Dec 31, 2021.
FORWARD Phase 3 wAIHA trial topline data expected mid-2022; potential first-to-market therapy if approved.
COVID-19 fostamatinib trial enrolled 268 of 308 patients; evaluating completion strategies.

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