Rigel Pharmaceuticals reports Q4 EPS 0c, consensus (3c)

Reports Q4 revenue $35.8M, consensus $34.1M. As of December 31, 2023, Rigel had cash, cash equivalents and short-term investments of $56.9M, compared to $58.2M as of December 31, 2022. “In 2023, fueled by increased physician awareness and adoption for both TAVALISSE and REZLIDHIA, we achieved net product sales of $104.3M, an increase of 36% compared to 2022,” said Raul Rodriguez, Rigel’s president and CEO. “We recently expanded our hematology and oncology portfolio with the addition of GAVRETO, a U.S. marketed product for the treatment of RET fusion-positive NSCLC. This addition is highly synergistic with our current portfolio and existing infrastructure, which we believe will further support top line growth. In 2024, we are focused on commercial expansion and execution, while advancing our pipeline with more strategic collaborations like MD Anderson and CONNECT.”