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Rigel Pharmaceuticals Q3 revenue slightly beats estimates

By Reuters News


Overview

  • US biotech firm's Q3 revenue rose yr/yr, slightly beating analyst expectations

  • Net product sales grew 13% yr/yr, driven by initial VEPPANU launch

  • Net income declined yr/yr as costs rose on R&D and commercial launch expenses


Outlook

  • Rigel sees 2026 total revenues of $290 mln to $295 mln

  • Company expects 2026 net product sales of $255 mln to $260 mln

  • Rigel forecasts 2026 contract revenues of about $35 mln


Result Drivers

  • VEPPANU LAUNCH - Initial sales from new breast cancer drug VEPPANU contributed $6.6 mln in Q3 net product sales

  • PRODUCT SALES MIX - Modest growth in TAVALISSE and strong growth in REZLIDHIA offset a decline in GAVRETO sales

  • COST INCREASES - Higher R&D and commercial launch expenses weighed on profitability


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Beat*

$80.90 mln

$80.10 mln (5 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


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 7.2% above its November 4 closing price of $51.29

  • The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Nov 2 - Syndax Pharmaceuticals Q3 revenue rises 82% on cancer drug sales

  • Nov 3 - Tarsus Pharmaceuticals Q3 product sales jump 64%, beating estimates

  • Nov 3 - Rhythm Pharma Q3 net loss narrower than estimated on IMCIVREE demand


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.)

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