Rigel Pharmaceuticals
Commercializes specialty treatments for a blood disorder, a leukemia, and RET-fusion cancers in the US.
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Profile
Sells three FDA-approved specialty drugs in the United States — a self-discovered chronic ITP treatment, an in-licensed acute myeloid leukemia therapy, and an acquired RET-fusion lung and thyroid cancer treatment — while licensing international marketing rights to partners in Europe and Asia rather than commercializing abroad directly.
Commercializes three specialty drugs in the United States after two decades as a discovery-stage kinase-biology company: TAVALISSE, an internally discovered treatment for chronic immune thrombocytopenia; REZLIDHIA, an in-licensed therapy for IDH1-mutated relapsed or refractory acute myeloid leukemia; and GAVRETO, an acquired treatment for RET-fusion lung and thyroid cancers.
International rights are licensed to partners rather than held directly: Grifols markets fostamatinib in Europe, and Kissei sublicenses olutasidenib across Japan and parts of Asia. The company operates as a single reportable segment centered on US commercialization.
TAVALISSE remains the largest contributor to product revenue. Its underlying compound has also failed several late-stage trials outside chronic ITP, including autoimmune hemolytic anemia and hospitalized COVID-19, leaving its approved use concentrated in the original indication.
Company facts
Key statistics
Year to date +11.2% · Average volume (30d) 320.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Piper Sandler | Reiterate | Neutral | $2 | $49 | |
| Aug 14, 2026 | H.C. Wainwright | Reiterate | Buy | $85 | ||
| Nov 5, 2025 | Jefferies | Upgrade | Hold | Buy | $1 | $42 |
| Nov 5, 2025 | Cantor Fitzgerald | Reiterate | Neutral | $38 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.09 | $0.88 | +903.9% | $55.3M | $78.7M | +42.4% | +4.60% |
| May 5, 2026Q1 FY26 | $0.74 | $0.44 | −40.5% | $62.4M | $58.8M | −5.7% | −5.06% |
| Mar 3, 2026Q4 FY25 | $1.33 | $1.14 | −14.3% | $68.7M | $69.8M | +1.6% | −10.27% |
| Nov 4, 2025Q3 FY25 | $0.93 | $1.46 | +57.0% | $68.4M | $69.5M | +1.5% | +33.37% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $53.3M | $101.7M | $69.5M | $69.8M | $58.8M | $78.7M | |
| Gross profit | $48.9M | $97.2M | $64.7M | $63.8M | $54.2M | $70.2M | |
| Operating income | $12.8M | $61.1M | $28.4M | $23.2M | $11.9M | $23.6M | |
| Net income | $11.4M | $59.6M | $27.9M | $268.1M | $8.7M | $17.3M | |
| Diluted EPS | $0.63 | $3.28 | $1.46 | $13.54 | $0.44 | $0.88 | |
| Gross margin | 91.7% | 95.6% | 93.2% | 91.5% | 92.2% | 89.2% | |
| Operating margin | 23.9% | 60.1% | 40.9% | 33.2% | 20.2% | 30.0% |
Fiscal years (4-quarter sums)FY21 $149.2M · FY22 $120.2M · FY23 $116.9M · FY24 $179.3M · FY25 $294.3M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $95.3M · Total debt $40.0M · Total assets $521.1M · Shareholders' equity $425.4M
Dividends
No dividends on record.
Ownership
Shares outstanding 18.50M · Float 17.87M · 96.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 1.94M | 10.48% | 13F | Aug 7, 2026 |
| Soleus Capital Management, L.P. | 1.84M | 9.96% | 13F | Aug 11, 2026 |
| Armistice Capital, LLC | 1.67M | 9.04% | 13F | Aug 14, 2026 |
| State Street Corp | 1.04M | 5.62% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 785.1K | 4.24% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 22, 2026 | Kamil Ali-Jackson | director | −2,500 | $35.00 |
| May 26, 2026 | Kamil Ali-Jackson | director | −2,500 | $29.17 |
| Feb 20, 2026 | Walter H. Moos | director | −4,000 | $36.36 |
Peers
- Eli Lilly
Dominant first-mover rival in RET-fusion NSCLC and thyroid cancer.
- Amgen
Head-to-head TPO-RA rival in chronic ITP.
- Novartis (ADR)
Dominant oral TPO-RA rival in chronic ITP.
- Sanofi (ADR)
First-in-class BTK inhibitor rival newly approved in chronic ITP.
- AbbVie
Frontline AML combination backbone shaping later-line treatment choices.
- argenx (ADR)
Emerging ITP pipeline threat; approved for ITP only in Japan so far.
- Bristol-Myers Squibb
Adjacent IDH2-mutant AML rival within the same IDH-inhibitor class.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Rigel Pharmaceuticals | $46.15 | −0.75% | $860.0M | 2.8 | 13.8 | 3.1 | −22.6% |
| Eli Lilly | $1,173.00 | −0.08% | $1.10T | 39.4 | 28.7 | 13.9 | +47.7% |
| Amgen | $430.27 | −0.49% | $233.38B | 26.9 | 18.4 | 6.1 | +9.7% |
| Novartis (ADR) | $153.81 | 0.00% | $292.35B | 23.2 | 16.4 | 5.3 | +0.9% |
| Sanofi (ADR) | $44.83 | +0.02% | $107.62B | 78.9 | — | 1.9 | +11.2% |
| AbbVie | $255.80 | +0.13% | $451.38B | 72.0 | 16.8 | 7.0 | +10.2% |
| argenx (ADR) | $1,023.21 | −0.02% | $63.63B | 37.3 | — | 12.4 | — |
| Bristol-Myers Squibb | $66.60 | +0.05% | $136.00B | 14.7 | 10.5 | 2.8 | +5.7% |
| Median | 37.3 | 16.8 | 6.1 | +9.9% |