EarningsQ2 2026 Earnings Report
DE:RI2 Q2 2026 EPS Results
Actual EPS€0.79
Consensus EPS€0.08
Beat/MissBeat by +€0.71
One Year Ago EPS€2.94
DE:RI2 Q2 2026 Revenue Results
Actual Revenue€70.46M
Expected Revenue€49.49M
Beat/MissBeat by +€20.98M
YoY Revenue Growth-22.60%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeAfter Close
Conference CallTuesday, August 4, 2026
DE:RI2 Upcoming Earnings
Rigel's next earnings date is estimated for November 10, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:RI2 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple meaningful commercial and pipeline achievements—most notably the in‑license and imminent launch of VEPPANU with strong phase III efficacy, ongoing commercial revenue growth (14% product sales growth, record TAVALISSE quarter, 27% REZLIDHIA growth), and promising early R289 data with regulatory incentives. These positives are tempered by lower year‑over‑year net income (partly due to one‑time prior‑year items), a substantial decline in cash reserves (~38.5%), higher operating expenses (+~35.7%), modest decline in GAVRETO sales, and significant upfront/milestone/royalty obligations tied to VEPPANU that may pressure margins and cash flow. Overall, the company communicated confident launch readiness and an optimistic strategic trajectory but with near‑term financial and execution risks to monitor.Company Guidance
Q2 Product Revenue Growth
Net product sales of $67.0M for Q2 2026, up $8.1M or 14% year‑over‑year; total revenues of $78.7M (including $11.7M in contract revenues).
TAVALISSE Record Quarter
TAVALISSE achieved record U.S. net product sales of $47.4M in Q2 2026, an 18% increase year‑over‑year (aided by favorable gross‑to‑net and inventory dynamics).
REZLIDHIA Strong Growth
REZLIDHIA net product sales were $8.9M in Q2 2026, a 27% increase year‑over‑year, with potential upside from emerging frontline VENCLEXTA data supporting post‑VENCLEXTA relevance.
Contract Revenue and Global Market Expansion
Contract revenues of $11.7M in Q2 driven by global availability of TAVALISSE and a $4M regulatory milestone from Kissei (olutasidenib submission in Japan); partners launched or gained approvals in new markets (e.g., Mexico, Brazil).
VEPPANU In‑License and Imminent Launch
Completed exclusive global license of vepdegestrant (VEPPANU), the first FDA‑approved PROTAC for second‑line+ ER+, HER2‑ metastatic breast cancer with ESR1 mutation; transaction closed in June and product on track to be commercially available mid‑August.
VEPPANU Clinical Efficacy and Differentiation
VERITAC‑2: median PFS 5.0 vs 2.1 months (2.4‑fold improvement) with hazard ratio 0.57 (P < 0.001); clinical benefit rate 42% vs 20%; objective response rate 18.6% vs 4% vs fulvestrant; low discontinuation (3%) and dose reductions (2%), manageable safety profile.
VEPPANU Market Opportunity
Company estimates ~20,000 U.S. second‑line+ ER+, HER2‑, ESR1‑mutated metastatic breast cancer patients treated annually, translating to a U.S. market opportunity of >$1B; Rigel believes VEPPANU has potential to be its largest commercial product.
R289 Early Clinical Promise and Regulatory Incentives
R289 (oral prodrug to R835), a dual IRAK1/IRAK4 inhibitor for lower‑risk MDS: phase I‑B dose escalation (≥500 mg) showed 6 of 18 evaluable patients (33%) achieved ≥8‑week RBC transfusion independence, median duration ~23 weeks, median time to onset ~2 months; R289 has Fast Track and Orphan Drug designations and dose expansion readout expected by year‑end.
Profitability and Updated Guidance
Reported income before income taxes of $23.6M and net income of $17.3M for Q2 2026. Raised and narrowed 2026 revenue guidance to ~$285M–$295M total (net product sales guidance $255M–$265M excluding VEPPANU; ~ $30M contract revenues) and expect reported positive net income for full year while funding development.
Commercial Readiness and Launch Execution
Operational readiness for VEPPANU: sales force trained rapidly, veppanu.com and RIGEL ONECARE patient hub live, distributor/payer/GPO engagement completed, and planned omni‑channel branded campaign beginning Q4 to support awareness and adoption.
Strategic Transformation Progress
Company highlights transformation from single‑product, cash‑burn profile to profitable multi‑product, diversified oncology/hematology company with four core strategic objectives (grow commercial business, expand portfolio, advance clinical pipeline, maintain financial discipline) and continued M&A/in‑licensing focus.
DE:RI2 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed