Rigel Pharmaceuticals Q2 revenue rises on strong product demand

Rigel Pharmaceuticals

04/08/2026 21:11

Overview
Biotechnology firm's Q2 revenue rose, with net product sales up 14% yr/yr
Q2 net income fell from prior year due to absence of $40 mln non-cash revenue
Company expanded portfolio with VEPPANU in-license and raised 2026 revenue outlook

Outlook
Rigel raises 2026 total revenue guidance to $285-$295 mln, up from $275-$290 mln
Company expects 2026 net product sales of $255-$265 mln, excluding VEPPANU
Rigel forecasts 2026 contract revenues of $30 mln, up from $20-$25 mln prior view

Result Drivers
TAVALISSE SALES GROWTH - TAVALISSE net product sales rose 18% yr/yr to $47.4 mln in Q2
REZLIDHIA SALES GROWTH - REZLIDHIA net product sales increased 27% yr/yr to $8.9 mln in Q2
MILESTONE PAYMENT - Co received $4 mln regulatory milestone payment from Kissei for olutasidenib application in Japan

Company press release: ID:nPn9sHJZva

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$78.70 mln
$69.46 mln (2 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy"
Wall Street's median 12-month price target for Rigel Pharmaceuticals Inc is $55.00, about 46.9% above its August 3 closing price of $37.43
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 7 three months ago

Reuters Recommended Reads
Aug 4 - Rhythm Pharmaceuticals Q2 net loss narrows on US launch demand
Aug 4 - Harmony Biosciences Q2 WAKIX revenue beats on patient growth
Aug 3 - Vertex Q2 revenue beats estimates on strong demand for cystic fibrosis therapies, lifts outlook

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)