Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 0-29889 Rigel Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) Delaware 94-3248524 (Sta ...

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Q1 2022 Earnings Conference Call May 3, 2022 4:30 PM ET Company Participants Dolly Vance - EVP, Corporate Affairs and General Counsel Raul Rodriguez - President and Chief Executive Officer Wolfgang Dummer - EVP and Chief Medical Officer Dave Santos - EVP and Chief Commercial Officer Dean Schorno - EVP and Chief Financial Officer Caroline Piatek - Associate Professor of Clinical Medicine Conference Call Participants Eun Yang - Jefferies Gary Nachman - BMO Capital Mar ...

Q1 2022 Financial Results Presentation 1 May 3, 2022 Forward-Looking Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1955 ("PSLRA") relating to, among other things, the timing of reporting topline data from the FORWARD trial in patients with wAIHA; enrollment and reporting of data from the Company's Phase 3 clinical trial of fostamatinib in hospitalized COVID-19 patients; the commercial success of TAVALISSE in the U.S. and ...

FORM 10-Q (Mark One) Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Exact name of registrant as specified in its charter) Delaware 94-3248524 (State or other jurisdiction of incorporation or (I.R.S. Employer Identification No.) organization) 1180 Veterans Blvd. South San Francisco, CA 94080 (Address of principal executive offices) (Zip Code) (650) 624-1100 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY P ...

| --- | --- | --- | |----------------------------|-------------------|-------| | | | | | | | | | Q4 & YE 2021 | Financial Results | | | Presentation March 1, 2022 | | | | | | | 1 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1955 ("PSLRA") relating to, among other things, the commercial success of TAVALISSE in the U.S. and TAVLESSE in Europe; including expectations related to the potential and market opp ...

Start Time: 16:30 January 1, 0000 5:35 PM ET Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Q4 2021 Earnings Conference Call March 01, 2022, 16:30 PM ET Company Participants Raul Rodriguez - President and CEO Wolfgang Dummer - EVP and CMO Dave Santos - EVP and Chief Commercial Officer Dean Schorno - EVP and CFO Dolly Vance - EVP, Corporate Affairs and General Counsel Conference Call Participants Do Kim - Piper Sandler Eun Yang - Jefferies Joe Pantginis - H.C. Wainwright Yigal Nochomovitz - Citigroup Kristen Klus ...

Revenue and Sales Performance - Total revenues for 2021 were $149.236 million, an increase of $40.615 million (37.4%) from $108.621 million in 2020[488]. - Product sales, net, reached $63.010 million in 2021, up from $61.696 million in 2020, reflecting an increase of $1.314 million (2.1%) driven by higher sales volumes and prices[488]. - Contract revenues from collaborations increased significantly to $75.726 million in 2021, a rise of $28.801 million (61.3%) compared to $46.925 million in 2020[488]. - The company reported a government contract revenue of $10.500 million in 2021, marking its first recognition in this category[488]. - Lilly accounted for 48% of total revenues in 2021, while McKesson Specialty Care Distribution Corporation and ASD Healthcare contributed 20% and 17%, respectively[488]. - License revenues from collaborations increased significantly to $70.553 million in 2021 from $40.358 million in 2020, marking a growth of 74.7%[634]. - The company generated 48% of its total net product sales from Lilly in 2021, while McKesson Specialty Care Distribution Corporation accounted for 20% and ASD Healthcare and Oncology Supply for 17%[637]. Expenses and Financial Performance - Research and development expenses increased to $65.2 million in 2021 from $60.1 million in 2020, driven by higher costs related to COVID-19 trials and IRAK 1/4 inhibitor program[497]. - Selling, general and administrative expenses rose to $91.9 million in 2021 from $76.6 million in 2020, primarily due to increased commercial activity costs[507]. - Total costs and expenses for 2021 were $161.732 million, up from $137.594 million in 2020, primarily due to increased R&D and administrative expenses[561]. - The company reported a net loss of $17.914 million for the year ended December 31, 2021, compared to a net loss of $29.744 million in 2020, indicating a reduction in losses by 39.8%[633]. - The company reported a comprehensive loss of $18.012 million for 2021, compared to $29.771 million in 2020, indicating a 39.5% improvement[564]. Cash Flow and Liquidity - As of December 31, 2021, cash, cash equivalents, and short-term investments totaled approximately $125.0 million, up from $57.3 million in 2020, an increase of $67.6 million[514]. - Net cash provided by operating activities was $5,878,000 in 2021, compared to $(52,185,000) in 2020, primarily due to cash received from Lilly[515]. - Net cash used in investing activities was $(80,036,000) in 2021, mainly due to net purchases of short-term investments of $79.4 million[518]. - Net cash provided by financing activities was $62,675,000 in 2021, primarily from cash received from Lilly amounting to $57.9 million[519]. - Cash, cash equivalents, and short-term investments totaled approximately $125.0 million as of December 31, 2021, providing sufficient liquidity for at least the next 12 months[577]. Research and Development - Fostamatinib is currently in Phase 3 trials for wAIHA and COVID-19 treatments, indicating ongoing investment in clinical development[468]. - The company has multiple product candidates in development across immunology, hematology, cancer, and rare diseases, showcasing a diverse pipeline[471]. - The company anticipates continued significant research and development expenses as it progresses with ongoing clinical studies, including wAIHA and COVID-19[498]. - Research and development expenses included costs for clinical trials and personnel, with all costs charged as incurred, reflecting the company's commitment to innovation[622]. Collaborations and Agreements - The company has ongoing collaboration agreements with multiple partners, including Grifols and Kissei, to develop and commercialize various drug candidates across different regions[638]. - The global exclusive license agreement with Lilly includes a non-refundable upfront cash payment of $125 million and potential milestone payments totaling $330 million for non-CNS disease products and $255 million for CNS disease products[645]. - The exclusive license agreement with Grifols includes an upfront payment of $30 million and potential total regulatory and commercial milestones of $297.5 million, along with tiered royalty payments that may reach 30% of net sales[651]. - The company recognized $1.8 million of revenue related to a milestone achievement under the Daiichi Collaboration Agreement during the year ended December 31, 2021[665]. Financial Position and Liabilities - As of December 31, 2021, the principal term loan outstanding with MidCap was $20.0 million, with access to an additional $40.0 million subject to certain conditions[526]. - The company has accrued research and development liabilities of $10.4 million as of December 31, 2021, up from $4.9 million in 2020[559]. - The company recorded net liabilities for product sales allowances and discounts amounting to $7.9 million as of December 31, 2021[553]. - The company has a contractual commitment related to its facilities lease amounting to $11.4 million, with $10.5 million payable within 12 months[536]. Accounting and Valuation - Stock-based compensation is recognized using the Black-Scholes model, with significant estimates involved in determining fair value[483]. - The allowance for doubtful accounts is currently not required, based on existing contractual payment terms and actual payment patterns[583]. - The carrying amounts of financial instruments approximate fair value due to their short maturities, including cash and accounts receivable[611]. - Fair value measurements are categorized based on the level of judgment associated with the inputs used, reflecting market-based measurements[613].

TAVALISSE Sales Performance and Growth - Q3 2021 net product sales reached $16 million[17] - Bottles shipped to patients and clinics increased by 5% compared to Q3 2020[17] - A total of 1,657 bottles were shipped, including 1,710 to patients and clinics, offset by a decrease of 53 bottles in distribution channels[64] - The company maintained a strong persistency rate of 56%[9] wAIHA Opportunity - Rigel is positioned to capitalize on the warm autoimmune hemolytic anemia (wAIHA) opportunity, targeting 45,000 US adult wAIHA patients[35] - In a Phase 2 clinical trial, 44% of patients responded by Week 24, with an increase in hemoglobin levels[41] - Enrollment is complete for the wAIHA Phase 3 clinical trial[9, 44] COVID-19 Program - Rigel is exploring fostamatinib in COVID-19, with ~210 patients enrolled in the Rigel-led Phase 3 clinical trial as of November 1, 2021[9] - Government contract revenue of $1 million was related to U S DOD support for Rigel's ongoing Phase 3 clinical trial of fostamatinib in hospitalized COVID-19 patients[70] Pipeline Programs - Rigel is advancing the development of its IRAK1/4 inhibitor program, with preparations for a Phase 1b/2 study in low-risk MDS underway[9] - The company is progressing both RIP1 inhibitor programs in collaboration with Lilly[9] Financial Position - Cash, cash equivalents, and short-term investment balance totaled $143.1 million as of September 30, 2021[70] - Contract revenues from collaborations reached $4.5 million, including $2.4 million from the Lilly license agreement and $1.8 million from the Daiichi milestone[69, 70]

Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Q3 2021 Results Conference Call November 2, 2021 4:30 PM ET Company Participants Dolly Vance - EVP, Corporate Affairs and General Counsel Raul Rodriguez - CEO Wolfgang Dummer - Chief Medical Officer Dave Santos - Chief Commercial Officer Dean Schorno - CFO Conference Call Participants Gary Nachman - BMO Capital Markets Joe Pantginis - H.C. Wainwright Kristen Kluska - Cantor Fitzgerald Operator Greetings, and welcome to Rigel Pharmaceuticals Financial Conference Call ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 0-29889 Rigel Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) Delaware 94-3248524 ...