Rigel Pharma (RIGL) Tops Q3 EPS by 9c

Rigel Pharma (NASDAQ: RIGL) reported Q3 EPS of ($0.08), $0.09 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $13 million versus the consensus estimate of $5 million.

As of September 30, 2015, Rigel had cash, cash equivalents and short-term investments of $134.4 million, compared to $143.2 million as of December 31, 2014. Rigel expects to end 2015 with cash and investments in excess of $115.0 million, which is expected to be sufficient to fund operations into the second quarter of 2017.

"We are concentrating our efforts on the timely completion of our two Phase 3 studies with fostamatinib in immune thrombocytopenic purpura (ITP). We expect topline data from the first Phase 3 trial in the middle of 2016 with the second reporting shortly thereafter," said Raul Rodriguez, president and chief executive officer of Rigel. "Also, our new partnership with Aclaris Therapeutics demonstrates our continuing efforts to explore additional partnerships and advance opportunities in areas beyond our therapeutic focus." he added.

For earnings history and earnings-related data on Rigel Pharma (RIGL) click here.

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