Rigel Q1 net income $11.4M vs loss; revenue $53.3M (+68% YoY); 2025 outlook reaffirmed

RIGEL PHARMACEUTICALS INC

2025-Q1 EPS reported $0.63 revenue$53,333,000

Net product sales $43.6M up 68% YoY: TAVALISSE $28.5M (+35%), GAVRETO $9.0M, REZLIDHIA $6.1M (+25%).
R289 granted FDA Orphan Drug (MDS) and Fast Track (lower-risk MDS); Phase 1b enrolling sixth dose level.
Patent settlement with Annora allows generic TAVALISSE license in Q2 2032 or earlier; litigation terminated.
Will not opt-in for ocadusertib; expects $40M non-cash revenue in Q2 from release of cost-share liability.
2025 outlook: total revenue $200-210M (excl. $40M one-time); positive net income expected for full year.

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