First patient enrolled in NIH/NHLBI-sponsored Phase 1 Study of fostamatinib, Rigel's oral SYK inhibitorSOUTH SAN FRANCISCO, Calif., Jan. 22, 2025 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced the first patient has been enrolled in a Phase 1 study evaluating the safety and tolerability of escalating doses of fostamatinib, the company's oral spleen tyrosine kinase (SYK) inhibitor, in patients with sickle cell disease (SCD). The study is being sponsored by the National Heart, Lung, ...

Rigel Pharmaceuticals (RIGL) closed the last trading session at $17.35, gaining 0.8% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $30.50 indicates a 75.8% upside potential.The mean estimate comprises six short-term price targets with a standard deviation of $17.85. While the lowest estimate of $14 indicates a 19.3% decline from the current price level, the most optimistic analys ...

Rigel Pharmaceuticals (RIGL) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Individual inve ...

Core Viewpoint - Rigel Pharmaceuticals reported a transformational year in 2024, achieving record sales and reaching financial breakeven, while advancing its development pipeline and planning for growth in 2025 [2][5][13]. Preliminary Financial Results - Preliminary total revenue for Q4 2024 is approximately $57.6 million, a significant increase from $35.8 million in Q4 2023 [5][6]. - Net product sales for Q4 2024 include TAVALISSE at $31.0 million, REZLIDHIA at $7.4 million, and GAVRETO at $8.1 million [5][6]. - For the full year 2024, Rigel expects total revenue of $179.3 million, up from $116.9 million in 2023, with net product sales of $144.9 million [5][6]. Commercial Update - TAVALISSE surpassed $100 million in net product sales in 2024, reporting $104.8 million [12]. - Rigel entered an exclusive license agreement with Dr. Reddy's for REZLIDHIA, which includes an upfront payment of $4.0 million and potential future milestone payments of up to $36.0 million [12]. Clinical and Development Update - R289 received Orphan Drug designation from the FDA for treating MDS and is currently in a Phase 1b clinical study [5][12]. - Initial data from the R289 study presented at the ASH Annual Meeting showed promising safety and efficacy results [12]. - Rigel plans to initiate a Phase 2 clinical study in recurrent glioma in 2025 [13]. 2025 Outlook - Rigel anticipates total revenue for 2025 to be approximately $200 to $210 million, with expectations of positive net income [13]. - The company aims to continue advancing its commercial portfolio and clinical development programs [13].

FDA Designations and Development Progress - The US FDA granted Orphan Drug designation to R289 for the treatment of myelodysplastic syndromes (MDS), highlighting the unmet medical need for patients with this rare disorder [1][2] - R289 also received Fast Track designation for the treatment of previously-treated transfusion-dependent lower-risk MDS patients [3] - The ongoing Phase 1b study of R289 is evaluating its safety, tolerability, pharmacokinetics, and preliminary activity in patients with lower-risk MDS who are relapsed or refractory to prior therapies [1] R289 Mechanism and Potential - R289 is a prodrug of R835, a dual inhibitor of IRAK1 and IRAK4, which blocks inflammatory cytokine production in response to TLR and IL-1R signaling [4] - Chronic stimulation of TLR and IL-1R pathways is thought to cause the pro-inflammatory environment in the bone marrow responsible for persistent cytopenias in lower-risk MDS patients [4] - Initial data from the Phase 1b study of R289 in lower-risk MDS patients is encouraging, supporting its potential as a new treatment option [2] Company Overview - Rigel Pharmaceuticals is a biotechnology company focused on discovering, developing, and providing novel therapies for hematologic disorders and cancer [5] - Founded in 1996, Rigel is based in South San Francisco, California, and is listed on the Nasdaq under the ticker RIGL [5]

SOUTH SAN FRANCISCO, Calif., Jan. 8, 2025 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL), a commercial stage biotechnology company focused on hematologic disorders and cancer, today announced that Raul Rodriguez, the company's president and CEO, will present a company overview at the 43rd Annual J.P. Morgan Healthcare Conference on Thursday, January 16, 2025 at 8:15 a.m. PT (11:15 a.m. ET) in San Francisco, CA. To access the live webcast or archived recording, visit the Investor Relations sectio ...

SOUTH SAN FRANCISCO, Calif., Jan. 3, 2025 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. ("Rigel") (Nasdaq: RIGL) today announced that it has granted awards pursuant to the Rigel Pharmaceuticals, Inc. Inducement Plan, approved by the Compensation Committee of Rigel's Board of Directors and granted as an inducement material to employees' entering into employment with Rigel, in accordance with NASDAQ Listing Rule 5635(c)(4). Specifically, Rigel granted 46,131 stock options to eight non-executive employees vestin ...

Core Insights - Rigel Pharmaceuticals is considered undervalued due to its recent acquisition of a lung cancer targeted therapy and the growth of its IDH1 inhibitor [1] Company Analysis - The company has a focus on developing therapies for cancer, particularly lung cancer, which is a significant area of interest in the biotech sector [1] - The analyst has a strong background in biochemistry and experience in analyzing clinical trials, indicating a deep understanding of the scientific aspects of the company's products [1]

Core Viewpoint - Rigel Pharmaceuticals (RIGL) has seen a significant stock price increase of 53.5% over the past four weeks, closing at $22.74, with analysts suggesting a potential upside of 28.3% based on a mean price target of $29.17 [1] Group 1: Price Targets and Analyst Estimates - The mean price target is derived from six short-term estimates, with a standard deviation of $18.89, indicating variability among analysts [2] - The lowest estimate of $14 suggests a potential decline of 38.4%, while the highest estimate predicts a surge of 150.7% to $57 [2] - A low standard deviation among price targets indicates strong agreement among analysts regarding the stock's price direction and magnitude [7] Group 2: Earnings Estimates and Analyst Optimism - Analysts have shown growing optimism regarding RIGL's earnings prospects, as evidenced by a positive trend in earnings estimate revisions [9] - Over the last 30 days, the Zacks Consensus Estimate for the current year has increased by 124.1%, with three estimates moving higher and no negative revisions [10] - RIGL holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate factors [11] Group 3: Caution on Price Targets - While price targets are often sought after by investors, their reliability as indicators of stock price direction is questionable [3][5] - Analysts may set overly optimistic price targets due to business incentives, which can lead to inflated estimates [6] - Investors should approach price targets with skepticism and not rely solely on them for investment decisions [8]

Company Overview - Rigel Pharmaceuticals, Inc. is a commercial stage biotechnology company focused on hematologic disorders and cancer [1][3] - The company was founded in 1996 and is based in South San Francisco, California [3] Upcoming Event - Dean Schorno, the chief financial officer of Rigel, will present a company overview at the Jefferies London Healthcare Conference on November 19, 2024, at 9:30 am GMT (4:30 am EST) [1] Investor Relations - Investors can access the live webcast or archived recording of the presentation through the Investor Relations section of Rigel's website [2]