Founded in 1996 and based in South San Francisco, California, Rigel develops and commercializes targeted small-molecule and oral therapies that address serious blood and cancer conditions where treatment needs remain. Major products include Tavalisse, an oral spleen tyrosine kinase inhibitor for chronic immune thrombocytopenia, Rezlidhia for relapsed or refractory acute myeloid leukemia with IDH1 mutations, and Gavreto for metastatic RET fusion-positive non-small cell lung cancer and advanced thyroid cancers.
Cyborg Score Rationale
Rigel demonstrates solid momentum with three FDA-approved commercialized products, record 2025 net product sales, achieved profitability, and positive cash flow. The pipeline advancement with R289 in lower-risk MDS shows promising Phase 1b data. However, short interest stands at 3.7 million shares representing 21.1% of the float, with short interest increasing by 137.8% over the past 12 months, suggesting significant bearish sentiment among traders.
Top Insights
Full-year 2025 total revenue expected at $294.3 million (net product sales of $232.0 million), up 64% from $179.3 million in 2024.
R289 in lower-risk MDS achieved RBC-TI in 33% of transfusion-dependent patients at doses ≥500 mg, with enrollment continuing on track to complete in H2 2026.
2024 saw record sales of Tavalisse and Rezlidhia, with Gavreto contributing substantially to sales in latter half of year, enabling Rigel to reach financial breakeven.
2026 outlook projects total revenue of $275-290 million with positive net income for the full year.