This biotech stock has jumped nearly 50% in 3 months. Its CEO says business is 'growing substantially'

Core Insights - Rigel Pharmaceuticals has experienced substantial growth, with an average increase of 30% over the past four years and approximately 50% growth this year [1] - The company's stock has surged about 50% in the last three months, making it one of the top-performing stocks in San Francisco [1][2] Financial Performance - In the second quarter, Rigel reported earnings of $3.28 per share, exceeding analyst expectations of $2.58 per share [3] - Revenue for the quarter was $101.7 million, significantly higher than the consensus estimate of $88.9 million [3] - The company raised its full-year revenue guidance to a range of $270 million to $280 million, up from the previous forecast of $200 million to $210 million [3] Product Portfolio - Rigel has three drugs currently on the market: Tavalisse for chronic immune thrombocytopenia, Gavreto for lung cancer, and Rezlidhia for acute myeloid leukemia with IDH1 mutation [4] - The company is advancing two clinical programs, one in partnership with Eli Lilly for Ocadusertib and another for R835, targeting lower-risk myelodysplastic syndrome [5] Clinical Trials and Future Outlook - Rigel is expanding its clinical trials to include a larger patient population, with more definitive data expected by the end of next year [6] - The company plans to present data on R835 at the American Society of Hematology meeting in December [5][6] - The next quarterly results are anticipated to be announced on November 4 [6]