Rigel Pharmaceuticals Exceeds Q2 2025 Revenue Guidance with 76% YoY Increase

Rigel Pharmaceuticals reported Q2 2025 earnings with net product sales of $58.9 million, a 76% YoY increase. Total revenue was $101.7 million, including $42.7 million in contract revenues from collaborations. Net income was $59.6 million, compared to a net loss of $1 million in the same period in 2024. The company raised its revenue guidance for 2025 to $270 million to $280 million and its net product sales guidance to $210 million to $220 million.

Title: Rigel Pharmaceuticals Reports Strong Q2 2025 Financial Results

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) reported robust financial results for the second quarter of 2025, highlighting significant growth and improved profitability. The company's net product sales surged by 76% year-over-year (YoY) to $58.9 million, while total revenue reached $101.7 million, including $42.7 million in contract revenues from collaborations. Net income for the quarter stood at $59.6 million, a substantial improvement over the $1.0 million net loss reported in the same period in 2024 [1].

The company's strong performance was driven by the continued success of its key products, including TAVALISSE® (fostamatinib disodium hexahydrate), GAVRETO® (pralsetinib), and REZLIDHIA® (olutasidenib). TAVALISSE net product sales grew by 52% to $40.1 million, while GAVRETO and REZLIDHIA sales increased by 36% and 31% respectively. The commercial launch of GAVRETO in South Korea in early July also contributed to the revenue growth [1].

Rigel's strategic and disciplined approach to building its business has enabled it to raise its 2025 financial guidance. The company now expects total revenue to reach approximately $270 to $280 million, with net product sales expected to range between $210 to $220 million. This updated outlook reflects the company's continued progress in its hematology and oncology development pipeline, including the completion of enrollment in the dose escalation part of its Phase 1b study evaluating R289 in patients with relapsed or refractory lower-risk MDS [1].

The second quarter also saw Rigel complete the enrollment in the dose escalation part of its Phase 1b study evaluating R289, a dual interleukin receptor-associated kinases 1 and 4 (IRAK1/4) inhibitor, in patients with relapsed or refractory (R/R) lower-risk MDS. The company anticipates sharing updated data from this study later this year and initiating the dose expansion part in the second half of 2025 [1].

Rigel's financial results were bolstered by non-cash contract revenue from collaborations, primarily resulting from the release of the remaining cost share liability related to its agreement with Lilly for the development and commercialization of ocadusertib. The company continues to be entitled to milestone and tiered royalty payments on future net sales of ocadusertib and its CNS penetrant program [1].

Looking ahead, Rigel is well-positioned to continue its growth trajectory. The company's updated financial guidance reflects its strong performance and the potential for future revenue growth. Rigel's strategic focus on hematologic disorders and cancer, coupled with its robust pipeline, positions it as a key player in the biotechnology sector [1].

References:
[1] https://www.biospace.com/press-releases/rigel-reports-second-quarter-2025-financial-results-and-provides-business-update