Rigel adds VEPPANU to portfolio, keeps R289 timeline, raises 2026 revenue guidance
The oncology and hematology company licensed the PROTAC breast cancer drug from Arvinas and Pfizer and expects U.S. launch in mid-August, while its R289 MDS trial stays on track for second-half 2026 dose selection.
Rigel Pharmaceuticals reported second quarter 2026 results on August 4, 2026, highlighted by the in-license of VEPPANU (vepdegestrant). Rigel entered an exclusive, global licensing agreement with Arvinas, Inc. and Pfizer Inc. to develop, manufacture and commercialize VEPPANU, the first and only PROTAC approved by the FDA for adults with ER+/HER2-negative, ESR1-mutated advanced or metastatic breast cancer with disease progression following at least one line of endocrine therapy.1 The agreement became effective June 11, 2026, with Rigel paying an upfront of $70.0 million to Arvinas and Pfizer in the quarter, and the company expects VEPPANU to be commercially available in the U.S. for second line-plus disease in mid-August 2026.1
On the clinical side, Rigel continues its Phase 1b study of R289, a dual IRAK1/4 inhibitor, in relapsed or refractory lower-risk MDS, with dose expansion enrollment on track to complete in the second half of 2026, a recommended Phase 2 dose expected in the same period, and preliminary dose expansion data expected by year end.1
Regulatory and partner updates included Brazil's ANVISA approving TAVALISSE for chronic ITP in May, with partner Knight Therapeutics also launching TAVALISSE in Mexico that month.1 Kissei Pharmaceutical submitted a Japanese marketing application for olutasidenib in May, triggering a $4.0 million milestone payment to Rigel.1 Rigel also named a new medical chief: in July, Rigel appointed Alison L. Hannah, M.D. as Executive Vice President and Chief Medical Officer.1
On guidance, Rigel raised its 2026 total revenue guidance to approximately $285 to $295 million, from a prior range of $275 to $290 million, including net product sales of $255 to $265 million and contract revenues of about $30 million, excluding VEPPANU.1 The company said it continues to expect positive net income for full-year 2026 while funding existing and new clinical programs.1 Cash, cash equivalents and short-term investments stood at $95.3 million as of June 30, 2026, down from $155.0 million at year-end 2025.1
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