Rigel(US:RIGL)2024-11-08 00:44Financial Performance - Rigel's Q3 2024 net portfolio sales grew by $11.8 million, a 44% increase compared to Q3 2023[9] - TAVALISSE Q3 2024 net product sales were $26.3 million, an 8% increase compared to Q3 2023[14] - REZLIDHIA Q3 2024 net product sales were $5.5 million, a 107% increase compared to Q3 2023[16] - GAVRETO Q3 2024 net product sales were $7.1 million[21] - Contract revenues from collaborations were $16.4 million, including $13.0 million from Kissei and $3.3 million from Grifols[46] - Net income for Q3 2024 was $12.421 million, or $0.71 per share basic and $0.70 per share diluted, compared to a net loss of $5.692 million, or $(0.33) per share in Q3 2023[45] Product Sales and Distribution - 2,797 bottles of TAVALISSE were shipped to patients and clinics in Q3 2024, a 16% increase compared to Q3 2023[14] - 2,793 bottles of TAVALISSE were sold in Q3 2024, a 9% increase compared to Q3 2023[14] - 444 bottles of REZLIDHIA were shipped to patients in Q3 2024, a 101% increase compared to Q3 2023[16] - 429 bottles of REZLIDHIA were sold in Q3 2024, a 104% increase compared to Q3 2023[16] - 717 bottles of GAVRETO were shipped to patients and clinics in Q3 2024[21] - 752 bottles of GAVRETO were sold in Q3 2024[21] Strategic Initiatives - Rigel expanded its relationship with Kissei, granting exclusive rights for REZLIDHIA in Japan, the Republic of Korea, and Taiwan, receiving an upfront payment of $10.0 million with potential milestone payments of up to $152.5 million[17] - Rigel entered into a strategic alliance with MD Anderson Cancer Center to advance olutasidenib in AML and other cancers, with Rigel providing $15 million in time-based milestone payments and study material over the 5-year collaboration[31] - Rigel is collaborating with CONNECT to advance olutasidenib in glioma, providing funding up to $3 million and study material over the 4-year collaboration[32]