Rigel Pharmaceuticals, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 01:36 am IST
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Rigel Pharmaceuticals, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 26.89 million compared to USD 29.82 million a year ago. Net loss was USD 6.6 million compared to USD 13.49 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to USD 0.08 a year ago.
For the six months, revenue was USD 52.96 million compared to USD 46.55 million a year ago. Net loss was USD 20.14 million compared to USD 40.94 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to USD 0.24 a year ago.
Rigel Pharmaceuticals, Inc. is a biotechnology company. The Company is engaged in developing and providing novel therapies that significantly improve the lives of patients with hematologic disorders and cancer. It is focused on products that address signaling pathways that are critical to disease mechanisms. Its first product is TAVALISSE (fostamatinib disodium hexahydrate) tablets, the approved oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia (ITP) who have had an insufficient response to a previous treatment. Its second product is REZLIDHIA (olutasidenib) capsules for the treatment of 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. Its GAVRETO (pralsetinib) product is a once daily, small molecule, oral, kinase inhibitor of wild type rearranged during transfection (RET) and oncogenic RET fusions.