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Red Flags Detected

  • Lilly Collaboration Termination (new) — Loss of a major collaboration partner eliminates future milestone and royalty revenue, reducing total revenue by 22.6% year-over-year.
  • Cash and Investments Decline (worsened) — Cash and investments fell from $155.0M to $95.3M in six months, driven by VEPPANU upfront payment and term loan repayment.
  • Veppanu License Transition Risk (new) — New risk factor highlights challenges in transitioning VEPPANU responsibilities from Arvinas and Pfizer, including reliance on third parties for supply and manufacturing.
  • Gavreto Boxed Warning (unchanged) — FDA approved a boxed warning for GAVRETO regarding serious infections, which may impact prescribing and sales.
NASDAQ: RIGL RIGEL PHARMACEUTICALS INC 10-Q

Rigel revenue falls 22.6% to $78.7M; net income drops 71% to $17.3M

Filed August 4, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 5, 2025 · ~1 min read

Key Changes

  • high

    Total revenue declined 22.6% to $78.7M, driven by the termination of the Lilly collaboration; net income fell 71.0% to $17.3M.

    MD&A: Results of Operations verify on EDGAR →
  • high

    Lilly terminated the ocadusertib collaboration effective June 15, 2026, eliminating future milestone and royalty revenue; rights reverted to Rigel.

    MD&A: Collaboration verify on EDGAR →
  • high

    Rigel in-licensed VEPPANU (vepdegestrant) from Arvinas and Pfizer, adding a fourth FDA-approved product with launch expected mid-August 2026.

    MD&A: Product Portfolio verify on EDGAR →

1 more material change behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Figures/quotes linked to EDGAR · Narrative written by AI · Sep 2, 2026 · How we verify