Rigel Q2 TAVALISSE net product sales $18.6M; licenses olutasidenib from Forma; draws $10M term loan

RIGEL PHARMACEUTICALS INC

2022-Q2 EPS reported -$0.24 revenue$46,554,000

TAVALISSE net product sales of $18.6M, up 9% YoY; total revenues $29.8M; net loss $13.5M ($0.08/share).
Exclusive license from Forma for olutasidenib (mIDH1 inhibitor) for R/R AML; $2M upfront, up to $233M milestones; PDUFA Feb 15, 2023.
Amended MidCap credit agreement: extended maturity to Sept 2026, interest-only to Oct 2024; drew $10M fourth tranche term loan.
Completed enrollment (280 patients) in Phase 3 COVID-19 trial of fostamatinib; top-line data expected Q4 2022.
Knight license for TAVALISSE in Latin America: $2M upfront, up to $20M milestones; Kissei NDA submitted in Japan for ITP.

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