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 and result drivers
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
TAVALISSE net product sales rose 18% yr/yr to $47.4 mln in Q2
REZLIDHIA net product sales increased 27% yr/yr to $8.9 mln in Q2
Co received $4 mln regulatory milestone payment from Kissei for olutasidenib application in Japan
Key details and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$78.70 mln
$69.46 mln (2 Analysts)
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"
RIGL•
