Rigel Reports Strong Q2 with $67M Net Product Sales, Raises 2026 Revenue Guidance to $285-$295M
RIGL sits 89% above its 52-week low of $21.81.
Summary
Rigel Pharmaceuticals reported Q2 2026 net product sales of $67 million, up 14% YoY, and raised its full-year revenue guidance to $285-$295 million. The company expects to launch VEPPANU in mid-August and remains on track for R289 Phase 1b milestones in H2 2026.
Key Events · Earnings and Guidance · RIGL
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Q2 2026 Financial Results
Total revenues of $78.7M, including net product sales of $67.0M (up 14% YoY) and contract revenues of $11.7M. Net income was $17.3M, or $0.88 per diluted share.
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Raised 2026 Revenue Guidance
Full-year total revenue guidance increased to $285-$295M, from $275-$290M, with net product sales of $255-$265M and contract revenues of ~$30M. Excludes VEPPANU contribution.
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VEPPANU Launch Imminent
VEPPANU (vepdegestrant), the first FDA-approved PROTAC for ER+/HER2- ESR1-mutated metastatic breast cancer, expected to be commercially available in the U.S. in mid-August 2026.
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R289 Clinical Progress
Phase 1b study in lower-risk MDS on track to complete dose expansion enrollment and select recommended Phase 2 dose in H2 2026, with preliminary data by year-end.
Analysis · RIGL · Life Sciences
Rigel delivered a solid second quarter, with net product sales rising 14% year-over-year to $67 million and net income of $17.3 million. The company raised its full-year 2026 revenue guidance to $285-$295 million, driven by continued commercial momentum across its hematology/oncology portfolio. The imminent U.S. launch of VEPPANU in mid-August adds a new growth driver, while the R289 program remains on track for key milestones in the second half of 2026. Cash declined to $95.3 million following the $70 million upfront payment for VEPPANU, but the company expects to remain profitable for the full year.
At the time of this filing, RIGL was trading at $41.20 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $716M. The 52-week trading range was $21.81 to $52.24. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.