Rigel Pharmaceuticals reports Q1 EPS (5c), consensus (3c)

Reports Q1 revenue $29.5M, consensus $31.28M. As of March 31 Rigel had cash, cash equivalents and short-term investments of $49.6M, compared to $56.9M as of December 31, 2023. “Results for the Q1 continued to demonstrate strong commercial demand with the highest number of TAVALISSE and REZLIDHIA bottles sold in a quarter since launch. We are also excited about the recent acquisition of GAVRETO and are on track to include this product in our commercial portfolio in July of this year,” said Raul Rodriguez, Rigel’s president and CEO. “At the same time, we are progressing the development of olutasidenib with our strategic collaborators, MD Anderson and CONNECT, and driving forward our other pipeline programs.”