Rigel Pharmaceuticals, Inc., a biotechnology company, develops and provides therapies that enhance the lives of patients with hematologic disorders and cancer in ...
Rigel Pharmaceuticals, Inc. is a biotechnology company headquartered in South San Francisco, California, incorporated in 1996. The company focuses on developing and commercializing small molecule drugs for hematologic disorders and cancer. Its primary commercial products include TAVALISSE (fostamatinib disodium hexahydrate) for chronic immune thrombocytopenia (ITP), REZLIDHIA (olutasidenib) for relapsed or ...Rigel Pharmaceuticals, Inc. is a biotechnology company headquartered in South San Francisco, California, incorporated in 1996. The company focuses on developing and commercializing small molecule drugs for hematologic disorders and cancer. Its primary commercial products include TAVALISSE (fostamatinib disodium hexahydrate) for chronic immune thrombocytopenia (ITP), REZLIDHIA (olutasidenib) for relapsed or refractory acute myeloid leukemia (AML) with an IDH1 mutation, and GAVRETO (pralsetinib) for RET fusion-positive non-small cell lung cancer and thyroid cancer. Rigel also has a pipeline including R289, an IRAK1/4 inhibitor in Phase 1b for lower-risk myelodysplastic syndrome and other conditions. The company collaborates with MD Anderson Cancer Center and the CONNECT network for clinical development. Financially, Rigel has shown strong performance with a market cap of $743 million, a TTM net profit margin of 116.3%, and a price-to-earnings ratio of 2.27. Key financial metrics indicate a solid balance sheet with low debt-to-equity (0.094) and strong liquidity (current ratio 1.946). The company employs 172 full-time staff as of the latest data. Leadership includes CEO Raul R. Rodriguez, who has been in the role since 2014. Rigel is committed to improving patient lives through innovative therapies, with a focus on underserved hematologic and oncologic conditions.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$294.3M
+64.1%
+33.8%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$367.0M
+1999.1%
+99.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+93.3%
+4.2%
-3.3%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+42.6%
+215.9%
+48.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+124.7%
+1178.8%
+49.3%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$75.7M
+143.5%
+1024.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+25.7%
+48.3%
+740.7%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
13.6%
-99.3%
-17.9%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.42x
+13.4%
-25.6%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Ray J. Furey: Welcome to our Q2 2026 Financial Results and Business Update Conference Call. The financial press release for the Q2 2026 was issued earlier today and can be viewed along with the slides for this presentation in the News and Events section of our investor relations site on rigel.com. As a reminder, during today's call, we may make forward-looking statements regarding our financial outlook and our plans and timing for commercial regulatory product development and other business activities. These statements are subject to risks and uncertainties that may cause actual results to differ from those forecasted. Description of those risks can be found in our most recent annual report on Form 10-K for the year ended December 31st, 2025, on file with the SEC, and subsequent filings with the SEC, including our Q2 quarterly report on Form 10-Q with the SEC. Any forward-looking statements are made only as of today's date, and we undertake no obligation to update these forward-looking statements to reflect subsequent events or circumstances, except as required by law. At this time, I would like to turn the call over to our President and Chief Executive Officer, Raul Rodriguez. Raul?
Raul R. Rodriguez: Thank you, Ray, and thank you all for joining us today. Also with me today are Dave Santos, our Chief Commercial Officer, and Dean Schorno, our Chief Financial Officer. I would also like to welcome Dr. Alison Hannah, our newly appointed Chief Medical Officer, who is with us today and will discuss our development pipeline. To begin, I will provide an overview of Rigel's business, our accomplishments for the Q2, and the strategic initiatives that positions us for continued growth in the coming years. Moving to slide four. The Q2 was an excellent one and marked an important step in Rigel's transformation into a diversified commercial oncology and hematology company. During the quarter, we continued to grow our current products. We completed the in-license of VEPPANU or vepdegestrant, adding a significant near-term growth driver. We delivered another quarter of strong profits, and we continued advancing R289 in lower-risk MDS in our dose expansion trial with a readout at year-end. We believe these actions positions Rigel for sustainable near-term and long-term growth. On the slide, you see the strategic framework that has guided Rigel's transformation and will continue to drive our growth. Our strategy is centered on four core strategic objectives: grow our commercial business, expand our product portfolio and pipeline through in-licensing or acquisition, advance our development pipeline in the clinic, and maintain financial discipline. Together, these four pillars support a durable long-term growth strategy. Our May announcement of the exclusive global license of VEPPANU demonstrates our execution of this strategy. It expands our portfolio with an important new commercial opportunity and furthers our long-term growth trajectory. Moving to slide …
