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Get filing alertsRigel reports Q2 revenue of $78.7M, in-licenses FDA-approved VEPPANU for $70M, raises 2026 guidance
Filed August 4, 2026 · Period ending August 4, 2026 · ~1 min read
Key Changes
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In-licensed VEPPANU (vepdegestrant), the first FDA-approved PROTAC for ER+/HER2-, ESR1-mutated metastatic breast cancer, from Arvinas and Pfizer for $70M upfront; U.S. launch expected mid-August 2026, expanding portfolio into oncology.
Exhibit 99.1 view on EDGAR → -
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Raised 2026 total revenue guidance to $285-295M from $275-290M, driven by contract revenue increase to ~$30M (from $20-25M); guidance excludes VEPPANU contribution and company expects positive net income for full year.
Exhibit 99.1 view on EDGAR → -
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Q2 2026 total revenues of $78.7M (net product sales $67.0M, up 14% YoY; contract revenues $11.7M) and net income of $17.3M ($0.88 diluted EPS), down from $59.6M in Q2 2025 due to prior-year $40M non-cash collaboration item.
Exhibit 99.1 view on EDGAR → -
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Received $4.0M regulatory milestone from partner Kissei following submission of new drug application for olutasidenib in Japan in May 2026.
Exhibit 99.1 view on EDGAR → -
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Phase 1b study of R289 (dual IRAK1/4 inhibitor) in relapsed/refractory lower-risk MDS on track; dose expansion enrollment to complete H2 2026, Phase 2 dose selection H2 2026, preliminary data by year-end.
Exhibit 99.1 view on EDGAR →
Summary
Rigel Pharmaceuticals reported second quarter 2026 results featuring $78.7 million in total revenues and $17.3 million in net income, while announcing a significant portfolio expansion through the in-licensing of VEPPANU.
The company paid $70 million upfront to Arvinas and Pfizer for exclusive global rights to VEPPANU (vepdegestrant), the first FDA-approved PROTAC for treating ER+/HER2-, ESR1-mutated advanced or metastatic breast cancer. U.S. commercial availability is expected in mid-August 2026, marking Rigel's entry into oncology beyond its existing hematology franchise.
Net product sales of $67.0 million grew 14% year-over-year, while contract revenues of $11.7 million included a $4.0 million regulatory milestone from partner Kissei following submission of a new drug application for olutasidenib in Japan. Rigel raised its 2026 total revenue guidance to $285-295 million from $275-290 million, driven primarily by higher expected contract revenues of approximately $30 million (up from $20-25 million). The guidance excludes any VEPPANU contribution and the company continues to expect positive net income for the full year while funding clinical development programs. The VEPPANU in-license represents a material capital deployment ($70 million upfront payment in Q2) that adds a commercially approved asset to Rigel's portfolio, with potential to diversify revenue streams as the product launches in the U.S. market.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Rigel announced Q2 2026 financial results via press release furnished as Exhibit 99.1.
Added in current filing · verify on EDGAR →
On August 4, 2026, Rigel Pharmaceuticals, Inc. (“Rigel”) announced certain financial results for its second quarter ended June 30, 2026.
Rigel disclosed second quarter 2026 financial results. The 8-K body does not provide specific figures; detailed results are contained in the press release furnished as Exhibit 99.1, which is not included in the provided text.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Rigel has increased its 2026 total revenues guidance to approximately $285 to $295 million, from the prior range of approximately $275 to $290 million, which includes: •Net product sales of approximately $255 to $265 million. •Contract revenues of approximately $30 million, an increase from the prior range of approximately $20 to $25 million. The above revenue guidance excludes VEPPANU.
Rigel raised its 2026 total revenue guidance to $285-295 million from $275-290 million, comprising net product sales of $255-265 million (excluding VEPPANU) and contract revenues of approximately $30 million (up from $20-25 million). The company continues to expect positive net income for full year 2026 while funding clinical development programs.
Added in current filing · view on EDGAR →
Rigel’s partner Kissei Pharmaceutical Co., Ltd. (Kissei) submitted a new drug application for manufacturing and marketing approval in Japan for olutasidenib in May. In connection with the submission, Rigel received a $4.0 million regulatory milestone payment from Kissei during the second quarter.
Rigel received a $4.0 million regulatory milestone payment from partner Kissei Pharmaceutical following the submission of a new drug application for olutasidenib (REZLIDHIA) in Japan in May 2026. This milestone contributes to contract revenues and represents geographic expansion of Rigel's partnered products.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 5, 2026 · How we verify