Rigel Pharmaceuticals Reports Record Q3 Revenue and Growth

Rigel Pharmaceuticals ((RIGL)) has held its Q3 earnings call. Read on for the main highlights of the call.

Rigel Pharmaceuticals’ recent earnings call reflected a robust financial performance, marked by substantial revenue growth and promising advancements in their drug development pipeline. Despite a setback with the termination of a CNS program by Eli Lilly, the overall sentiment was optimistic, focusing on the company’s growth and future expansion opportunities.

Record Revenue and Net Product Sales

Rigel Pharmaceuticals reported a total revenue of $69.5 million for the third quarter of 2025, with net product sales reaching a record $64.1 million, representing a 65% increase year-over-year. The company has raised its 2025 revenue guidance to a range of $285 million to $290 million, surpassing previous expectations.

Strong Performance of Commercial Products

The company’s commercial products have shown impressive growth, with TAVALISSE generating $44.7 million in net product sales, a 70% increase from the previous year. GAVRETO and REZLIDHIA also performed well, achieving sales of $11.1 million and $8.3 million, marking increases of 56% and 50%, respectively.

Pipeline Advancements

Rigel has made significant progress in its drug development pipeline, completing enrollment in the dose escalation phase of the R289 study and enrolling the first patient in the dose expansion phase. The company is also pursuing strategic collaborations and expansions for olutasidenib in IDH1 mutated AML and glioma.

Financial Discipline and Profitability

The company reported a net income of $27.9 million for the third quarter of 2025, up from $12.4 million in the same period last year. Rigel also increased its cash balance to $137.1 million, demonstrating strong financial discipline and profitability.

Termination of CNS Disease Program

Eli Lilly’s decision to terminate the CNS disease program was a notable development, with the termination set to become effective after 60 days. Despite this, Rigel remains focused on its core areas of growth and development.

Forward-Looking Guidance

Rigel Pharmaceuticals has provided updated guidance for 2025, reflecting strong commercial performance and strategic advancements. The company projects total revenue between $285 million and $290 million, with net product sales expected to be between $225 million and $230 million, indicating a growth rate of 55% to 59% compared to 2024. The ongoing Phase Ib study of R289 and strategic collaborations for olutasidenib contribute to a promising outlook for sustained growth in hematology and oncology.

In conclusion, Rigel Pharmaceuticals’ earnings call conveyed a positive outlook, underscored by record revenue figures and strategic advancements in their drug pipeline. Despite the termination of a CNS program, the company remains on a strong growth trajectory, with increased revenue guidance and a focus on expanding its presence in the hematology and oncology sectors.