Rigel reports Q4 revenue of $69.8 million, projects 2026 growth

Rigel Pharmaceuticals Inc. (NASDAQ: RIGL) reported preliminary fourth quarter 2025 total revenue of approximately $69.8 million, compared to $57.6 million in the same period of 2024, according to a company statement.

The biotechnology company expects fourth quarter net product sales of $65.4 million, up from $46.5 million in the prior year period. This includes TAVALISSE net sales of $45.6 million, GAVRETO sales of $10.2 million, and REZLIDHIA sales of $9.6 million.

For the full year 2025, Rigel expects total revenue of $294.3 million, including net product sales of $232.0 million and contract revenues of $62.3 million. This compares to total revenue of $179.3 million in 2024.

The company projects 2026 total revenue of approximately $275 million to $290 million, with net product sales of $255 million to $265 million. Rigel anticipates reporting positive net income for 2026 while funding clinical development programs.

Rigel continues advancing its Phase 1b study of R289, an investigational dual inhibitor, in patients with lower-risk myelodysplastic syndrome. In the dose escalation phase, 33% of evaluable transfusion-dependent patients receiving R289 doses of at least 500 mg daily achieved red blood cell transfusion independence for eight weeks or longer.

The company expects to complete enrollment in the dose expansion phase and select the recommended Phase 2 dose in the second half of 2026. Cash, cash equivalents, and short-term investments are expected to be approximately $154.6 million as of December 31, 2025.

These preliminary results have not been audited and are subject to change. Complete fourth quarter and full year 2025 financial results are expected in March 2026.

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