Rigel Q3 2022 net loss $19.0M, TAVALISSE sales up 20%, workforce cut 16%

RIGEL PHARMACEUTICALS INC

2022-Q3 EPS reported -$0.35 revenue$68,964,000

Q3 net loss $19.0M ($0.11/sh) vs $21.0M loss a year ago; total revenue $22.4M.
TAVALISSE net product sales $19.2M, up 20% YoY from $16.0M.
Reduced workforce by 16% (30 positions) in development and administration.
Olutasidenib NDA under FDA review with PDUFA date Feb 15, 2023; preparations for launch.
FOCUS COVID-19 Phase 3 trial missed primary endpoint (p=0.0603); no sNDA for wAIHA.

item 1.01 item 2.02 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RIGEL PHARMACEUTICALS INC reported nine months ended September 30, 2022 results: revenue $69.0 million, net income net loss of $60.0 million, EPS ($0.35) per basic and diluted share.

Period: nine months ended September 30, 2022
Revenue: $69.0 million
Net income: net loss of $60.0 million
EPS: ($0.35) per basic and diluted share
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2022, Rigel reported a net loss of $60.0 million, or $0.35 per basic and diluted share, compared to a net income of $4.7 million, or $0.03 per basic and diluted share, for the same period of 2021. For the nine months ended September 30, 2022, total revenues were $69.0 million, consisting of $53.9 million in TAVALISSE net product sales, $12.5 million in contract revenues from collaborations and $2.5 million in government contract revenue.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RIGEL PHARMACEUTICALS INC reported third quarter ended September 30, 2022 results: revenue $22.4 million, net income net loss of $19.0 million, EPS ($0.11) per basic and diluted share.

Period: third quarter ended September 30, 2022
Revenue: $22.4 million
Net income: net loss of $19.0 million
EPS: ($0.11) per basic and diluted share
Result: reported results

Exact text from the filing

For the third quarter of 2022, Rigel reported a net loss of $19.0 million, or $0.11 per basic and diluted share, compared to a net loss of $21.0 million, or $0.12 per basic and diluted share, for the same period of 2021. For the third quarter of 2022, total revenues were $22.4 million, consisting of $19.2 million in TAVALISSE net product sales, $0.7 million in contract revenues from collaborations and $2.5 million in government contract revenue.

View on SEC.gov

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

RIGEL PHARMACEUTICALS INC: Amended and restated bylaws effective October 31, 2022 with revisions to stockholder proposal disclosures, meeting conduct, and exclusive forum provisions (effective 2022-10-31).

Change: bylaw amendment
Effective: 2022-10-31

Exact text from the filing

On October 31, 2022, the Board of Directors of the Company (the "Board") approved the second amendment and restatement of the Bylaws of the Company (the "Amended and Restated Bylaws"). The Amended and Restated Bylaws are effective as of October 31, 2022.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RIGEL PHARMACEUTICALS INC entered into sublease agreement with Atara Biotherapeutics, Inc. valued at approximately $1.8 million (based on 13,670 rentable square feet, term through May 24, 2025) (effective 2022-10-28).

Action: entry
Agreement: lease
Counterparty: Atara Biotherapeutics, Inc.
Value: approximately $1.8 million (based on 13,670 rentable square feet, term through May 24, 2025)
Effective: 2022-10-28

Exact text from the filing

On October 28, 2022, Rigel Pharmaceuticals, Inc. (“Rigel” or the “Company”) entered into a sublease agreement with Atara Biotherapeutics, Inc. to sublease approximately 13,670 rentable square feet of office space located in South San Francisco, California.

View on SEC.gov

59 earnings releases filed in the last 30 days. Browse all earnings releases →

RIGEL PHARMACEUTICALS INC filing history →

Source: SEC EDGAR

accession 0001104659-22-114413

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.