Rigel Pharmaceuticals, Inc., a biotechnology company, develops and provides therapies that enhance the lives of patients with hematologic disorders and cancer in the United States. The company offers TAVALISSE, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; REZLIDHIA, a non-intensive monotherapy to treat adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer (NSCLC), as well as to treat adult and pediatric patients twelve years of age and older with advanced or metastatic RET fusion-positive thyroid cancer. It also develops R289, an oral interleukin receptor-associated kinases 1 and 4 (IRAK1/4) inhibitor, which is being advanced to Phase 1b study for the treatment of hematology-oncology, autoimmune, and inflammatory diseases, as well as to treat lower-risk myelodysplastic syndrome. The company has strategic development collaboration with The University of Texas MD Anderson Cancer Center (MDACC) for the development of olutasidenib in AML and other hematologic cancers with IDH1mutations; and the Collaborative Network for Neuro-Oncology Clinical Trial (CONNECT) to conduct a Phase 2 clinical trial to evaluate olutasidenib in combination with temozolomide in patients with high-grade glioma harboring an IDH1 mutation. Rigel Pharmaceuticals, Inc. was incorporated in 1996 and is headquartered in South San Francisco, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $294M | $132M | $367M | $76M | 93.8% | 64.1% | 1999.1% |
| 2024 | $179M | $29M | $17M | $31M | 531.8% | 53.4% | - |
| 2023 | $117M | $-17M | $-25M | $-21M | 87.6% | -2.8% | - |
| 2022 | $120M | $-54M | $-59M | $-74M | 430.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 120.24 | 116.88 | 179.28 | 294.28 |
| Cost Of Revenue | 1.75 | 7.11 | 18.65 | 19.62 |
| Gross Profit | 118.49 | 109.77 | 160.63 | 274.66 |
| Operating Expense | 172.72 | 130.26 | 136.44 | 149.19 |
| Operating Income | -54.23 | -20.49 | 24.19 | 125.47 |
| EBITDA | -53.87 | -16.98 | 28.51 | 131.56 |
| EBIT | -54.87 | -18.22 | 26.28 | 129.15 |
| Pretax Income | -58.57 | -25.09 | 18.37 | 121.83 |
| Tax Provision | 0 | 0 | 0.88 | -245.20 |
| Net Income | -58.57 | -25.09 | 17.48 | 367.02 |
| Net Income Common Stockholders | -58.57 | -25.09 | 17.48 | 367.02 |
| Total Expenses | 174.47 | 137.37 | 155.09 | 168.82 |
| Interest Expense | 3.71 | 6.87 | 7.92 | 7.32 |
| Interest Income | 0.68 | 2.27 | 2.09 | 3.68 |
| Research And Development | 60.27 | 24.52 | 23.38 | 33.30 |
| Selling General And Administration | 112.45 | 105.74 | 113.06 | 115.90 |
| Normalized EBITDA | -52.55 | -16.98 | 28.51 | 131.56 |
| Normalized Income | -57.25 | -25.09 | 17.48 | 367.02 |
| Basic EPS | -3.40 | -1.44 | 0.99 | 20.40 |
| Diluted EPS | -3.40 | -1.44 | 0.99 | 19.48 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0.05 | 0.21 |
| Total Unusual Items | -1.32 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -1.32 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -58.57 | -25.09 | 17.48 | 367.02 |
| Reconciled Depreciation | 1 | 1.24 | 2.23 | 2.42 |
| Reconciled Cost Of Revenue | 1.75 | 7.11 | 18.65 | 19.62 |
| Net Interest Income | -3.02 | -4.60 | -5.83 | -3.64 |
| Net Income From Continuing And Discontinued Operation | -58.57 | -25.09 | 17.48 | 367.02 |
| Total Operating Income As Reported | -55.55 | -20.49 | 24.19 | 125.47 |
| Diluted Average Shares | 17.24 | 17.40 | 17.69 | 18.84 |
| Basic Average Shares | 17.24 | 17.40 | 17.58 | 17.99 |
| Diluted NI Availto Com Stockholders | -58.57 | -25.09 | 17.48 | 367.02 |
| Net Income Including Noncontrolling Interests | -58.57 | -25.09 | 17.48 | 367.02 |
| Net Income Continuous Operations | -58.57 | -25.09 | 17.48 | 367.02 |
| Other Income Expense | -1.32 | 0 | 0 | 0 |
| Special Income Charges | -1.32 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 1.32 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -3.02 | -4.60 | -5.83 | -3.64 |
| Interest Expense Non Operating | 3.71 | 6.87 | 7.92 | 7.32 |
| Interest Income Non Operating | 0.68 | 2.27 | 2.09 | 3.68 |
| Operating Revenue | 152.05 | 159.65 | 244.30 | 372.26 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Rigel Pharmaceuticals, Inc.this co. | RIGL | $540M | 1.50β discount | 1.37 | 93.8% | 3.43 |
| Phreesia, Inc. | PHR | $569M | 234.25 | 1.69 | 0.7% | 29.02 |
| NeuroPace, Inc. | NPCE | $562M | - | 29.17 | -112.8% | -35.19 |
| Embecta Corp. | EMBC | $536M | 5.72 | -0.84 | -14.6% | 6.16 |
| SI-BONE, Inc. | SIBN | $528M |
| - |
| 2.93 |
| -10.6% |
| -25.11 |
| Personalis, Inc. | PSNL | $528M | - | 1.98 | -31.1% | -4.25 |
| Tactile Systems Technology, Inc. | TCMD | $512M | 27.44 | 2.31 | 8.7% | 12.18 |
| Altimmune, Inc. | ALT | $511M | - | 1.30 | -39.2% | -1.10 |
| Tectonic Therapeutic, Inc. | TECX | $510M | - | 2.02 | -29.5% | -3.09 |
| Peer Median | - | 27.44 | 2.00 | -22.1% | -2.10 | |