Rigel Pharmaceuticals reports Q2 EPS (6c), consensus (29c)

Reports Q2 revenue $36.8M, consensus $33.42M. Cash, cash equivalents and short-term investments as of June 30 was $49.1M, compared to $49.6M as of March 31, and $56.9M as of December 31, 2023. “In the Q2, we advanced key strategic initiatives including the successful transfer of GAVRETO to our commercial portfolio, enabling us to bring this important treatment option to current and newly prescribed patients without interruption,” said Raul Rodriguez, Rigel’s president and CEO. “The addition of GAVRETO, combined with record revenues from TAVALISSE and REZLIDHIA, has allowed us to approach net income break even. We look to maintain our financial discipline as we expand our commercial reach and advance our development programs.”