Rigel Pharmaceuticals Eyes Double-Digit Growth Below 60%, Finalizes R289 Phase II Dose
Rigel Pharmaceuticals achieved profitability in Q3 2024, boosting its cash position by over $100 million and expanding its commercial portfolio to three products for four indications. The company forecasts double-digit sales growth for 2026, below the prior year’s 60% increase, while finalizing the Phase II dose for R289 in low-risk MDS.
1. Profitability and Cash Position
Rigel Pharmaceuticals reached profitability in Q3 2024 and increased its cash balance by more than $100 million, marking a significant financial milestone after years of investment in research and development.
2. 2026 Growth Outlook
The company projects double-digit sales growth in 2026, adopting a more conservative outlook compared to the 60% year-over-year increase in 2025, which benefited from a one-time boost in patient affordability.
3. R289 Clinical Development
Rigel is selecting the recommended Phase II dose for R289 in low-risk myelodysplastic syndromes, comparing 500 mg daily versus twice daily regimens, with dose selection expected in H2 following 16 weeks of patient evaluation.
4. Commercial Portfolio and Business Development
The firm has grown its product lineup to include Tavalis, Reslidia and Gavreto across four indications, and is assessing multiple late-stage hematology and oncology assets for in-licensing or acquisition to supplement its pipeline.