Rigel(US:RIGL) Prnewswireยท2025-01-13 13:05Core 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].