RIGL

MKT CAP:$558M

Rigel Pharmaceuticals, Inc.

Market Cap

$558M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$30.72-$11.11 (-26.56%)

Apr 23, 2026

Company Details

Rigel Pharmaceuticals, Inc., a biotechnology company, discovers and develops small molecule drugs to treat hematologic disorders, cancer, and rare immune diseases. The company offers Tavalisse, an oral spleen tyrosine kinase inhibitor for t...

CEO

Raul R. Rodriguez

IPO Date

Nov 29, 2000

Website

www.rigel.com

Key Metrics TTM

Revenue

$294M

+64.1% YoY

Net Income

$367M

EPS (Diluted)

$19.48

Free Cash Flow

$76M

Revenue / Share

$15.62

Gross Margin

93.3%

Operating Margin

42.6%

Net Margin

124.7%

FCF Margin

25.7%

P/S

1.9x

P/E

1.5x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Mar 3, 2026

$294M+64.1%EPS $19.48

Q4 2025

Mar 3, 2026

$70M+21.2%EPS $14.11

Q3 2025

Nov 4, 2025

$69M+25.6%EPS $1.46

Q2 2025

Aug 5, 2025

$102M+176.0%EPS $3.28

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$17M	$17M	-$26M
Q2 22	$30M	$29M	-$13M
Q3 22	$22M	$22M	-$18M
Q4 22	$51M	$51M	$2M
Q1 23	$26M	$25M	-$13M
Q2 23	$27M	$26M	-$5M
Q3 23	$28M	$27M	-$4M
Q4 23	$36M	$32M	$2M
Q1 24	$30M	$28M	-$7M
Q2 24	$37M	$34M	$447.0K
Q3 24	$55M	$47M	$14M
Q4 24	$58M	$52M	$17M
Q1 25	$53M	$49M	$13M
Q2 25	$102M	$97M	$61M
Q3 25	$69M	$65M	$28M
Q4 25	$70M	$64M	$23M

Valuation

Quarter	P/S	P/E
Q1 22	6.6x	—
Q2 22	6.3x	—
Q3 22	6.2x	—
Q4 22	4.6x	—
Q1 23	4.3x	—
Q2 23	4.4x	—
Q3 23	4.2x	—
Q4 23	4.8x	—
Q1 24	4.6x	—
Q2 24	4.3x	—
Q3 24	3.5x	143.7x
Q4 24	3.1x	31.9x
Q1 25	2.7x	15.0x
Q2 25	2.1x	5.7x
Q3 25	2.0x	4.9x
Q4 25	1.9x	1.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$26M	-$26M
Q2 22	-$13M	-$13M
Q3 22	-$13M	-$13M
Q4 22	-$22M	-$22M
Q1 23	-$4M	-$19M
Q2 23	$6M	$6M
Q3 23	-$1M	-$1M
Q4 23	-$6M	-$6M
Q1 24	-$5M	-$5M
Q2 24	$302.0K	$80.0K
Q3 24	$22M	$22M
Q4 24	$15M	$14M
Q1 25	-$893.0K	-$893.0K
Q2 25	$31M	$31M
Q3 25	$24M	$24M
Q4 25	$22M	$22M

Capital Expenditures

Quarter	CapEx
Q1 22	$224.0K
Q2 22	$36.0K
Q3 22	$189.0K
Q4 22	$73.0K
Q1 23	$15M
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$138.0K
Q2 24	$222.0K
Q3 24	$10.0K
Q4 24	$26.0K
Q1 25	$0
Q2 25	$0
Q3 25	$12.0K
Q4 25	$12.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-79.3%	+9.5%
Q2 22	+13.5%	+8.8%
Q3 22	+4.0%	-1.2%
Q4 22	+151.3%	+17.6%
Q1 23	+55.8%	-9.8%
Q2 23	-9.8%	-24.8%
Q3 23	+25.5%	-20.1%
Q4 23	-30.2%	-31.2%
Q1 24	+13.3%	-5.9%
Q2 24	+37.0%	+13.2%
Q3 24	+96.6%	+26.5%
Q4 24	+60.9%	+21.0%
Q1 25	+80.6%	+11.1%
Q2 25	+176.0%	+11.5%
Q3 25	+25.6%	-0.5%
Q4 25	+21.2%	+13.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$3M	19.2%
Q2 22	$2M	8.0%
Q3 22	$3M	12.1%
Q4 22	$4M	8.0%
Q1 23	$3M	10.6%
Q2 23	$2M	8.1%
Q3 23	$2M	6.9%
Q4 23	$2M	5.4%
Q1 24	$5M	17.4%
Q2 24	$3M	6.9%
Q3 24	$3M	4.8%
Q4 24	$2M	3.6%
Q1 25	$3M	6.2%
Q2 25	$3M	3.2%
Q3 25	$3M	4.8%
Q4 25	$3M	3.9%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$15M	—	—	$27M
Q2 22	$15M	—	—	$27M
Q3 22	$15M	—	—	$26M
Q4 22	$15M	—	—	$32M
Q1 23	$10M	—	—	$28M
Q2 23	$5M	$26M	—	—
Q3 23	$6M	—	—	$25M
Q4 23	$3M	$26M	$544.0K	—
Q1 24	$6M	—	—	$28M
Q2 24	$6M	—	—	$28M
Q3 24	$6M	—	—	$27M
Q4 24	$6M	—	—	$30M
Q1 25	$8M	—	—	$28M
Q2 25	$7M	—	—	$29M
Q3 25	$7M	—	—	$29M
Q4 25	$11M	—	—	$30M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$25M	$83M	$108M
Q2 22	$27M	$62M	$89M
Q3 22	$30M	$52M	$82M
Q4 22	$24M	$34M	$58M
Q1 23	$40M	$18M	$59M
Q2 23	$49M	$16M	$64M
Q3 23	$45M	$17M	$62M
Q4 23	$33M	$24M	$57M
Q1 24	$26M	$24M	$50M
Q2 24	$36M	$13M	$49M
Q3 24	$52M	$9M	$61M
Q4 24	$57M	$21M	$77M
Q1 25	$46M	$31M	$77M
Q2 25	$53M	$55M	$108M
Q3 25	$49M	$89M	$137M
Q4 25	$41M	$114M	$155M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	17M	+0.4%	-2.4%
Q2 22	17M	+0.2%	+1.1%
Q3 22	17M	+0.4%	+1.1%
Q4 22	17M	+0.0%	+1.0%
Q1 23	17M	+0.4%	+1.0%
Q2 23	17M	-0.0%	+0.8%
Q3 23	17M	+0.5%	+0.9%
Q4 23	17M	+0.1%	+0.9%
Q1 24	18M	+0.4%	+0.9%
Q2 24	18M	+0.2%	+1.1%
Q3 24	18M	+0.6%	+1.2%
Q4 24	18M	+1.9%	+3.1%
Q1 25	18M	+1.0%	+3.7%
Q2 25	18M	-0.0%	+3.5%
Q3 25	19M	+5.5%	+8.5%
Q4 25	19M	-1.6%	+4.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$101.4K	165
Q2 22	$180.7K	165
Q3 22	$135.8K	165
Q4 22	$330.8K	155
Q1 23	$168.2K	155
Q2 23	$173.5K	155
Q3 23	$181.5K	155
Q4 23	$243.5K	147
Q1 24	$200.9K	147
Q2 24	$250.6K	147
Q3 24	$376.2K	147
Q4 24	$355.5K	162
Q1 25	$329.2K	162
Q2 25	$627.7K	162
Q3 25	$428.8K	162
Q4 25	$405.8K	172

Revenue / Employee