Rigel posts Q3 2026 profit as VEPPANU launch begins and R289 data head to ASH

Rigel Pharmaceuticals reported third quarter 2026 results on November 5, 2026, covering the period ended September 30, 2026. Total revenues for the quarter were $80.9 million, including net product sales of $72.3 million and contract revenues from collaborations of $8.6 million, with net income of $13.2 million.¹

VEPPANU (vepdegestrant) became commercially available in the U.S. on August 13, 2026, generating $6.6 million in net product sales in the third quarter.¹ VEPPANU is described as the first and only PRoteolysis TArgeting Chimera approved by the FDA for adults with ER+/HER2-, ESR1-mutated advanced or metastatic breast cancer, as detected by an FDA-authorized test, following at least one line of endocrine therapy.¹

On the pipeline side, Rigel continues its Phase 1b study of R289, a dual IRAK1/4 inhibitor, in relapsed or refractory lower-risk myelodysplastic syndrome, and expects to complete enrollment and select a recommended Phase 2 dose by the end of 2026.¹ Updated data from the study, including initial efficacy data from the dose expansion phase, will be presented in an oral session at the ASH Annual Meeting in December.¹

In regulatory and commercial updates outside the U.S., Rigel's partner Knight Therapeutics received approval from Colombia's INVIMA in September for TAVALISSE in adult chronic ITP patients with insufficient response, loss of response, or intolerance to prior corticosteroid and IVIG treatment.¹ Knight also launched TAVALISSE commercially in Brazil in October.¹

On guidance, Rigel updated its 2026 total revenue guidance to approximately $290 to $295 million, from a prior range of $285 to $295 million, including net product sales of approximately $255 to $260 million and contract revenues of approximately $35 million.¹ The company said the net product sales portion of that guidance excludes VEPPANU.¹ Rigel said it continues to anticipate positive net income for the full year while funding existing and new clinical development programs.¹

Cash, cash equivalents and short-term investments stood at $99.3 million as of September 30, 2026, compared with $155.0 million at the end of 2025.¹