RIGLRigel Pharmaceuticals, Inc.
Rigel Pharmaceuticals, Inc. (RIGL) sells innovative therapies for hematologic disorders and oncology, with a focus on precision medicine and targeted treatments. The next catalyst is Nov 3, 2026 — Q3 2026 Earnings Release, which will test the company’s ability to deliver on its recent licensing agreement for VEPPANU™ and maintain momentum from its GAVRETO® Phase 3 data.
- RIGL reported $308.67M in revenue for the 12 months ended June 30, 2026, with a net margin of 20.2% and free cash flow of $117.98M.
- The company has a debt-to-equity ratio of 0.13x and a 64.1% year-over-year revenue growth.
- RIGL’s stock historically moves about 19% in response to key catalysts.
The Read
Rigel Pharmaceuticals has historically experienced a median absolute stock move of about 19%.
The schedule
- Tue3Nov
The earnings report will test the company's ability to meet revenue and EPS guidance, with a focus on the progress of its key drug candidates and the impact of regulatory updates. This differs from the last report, which was more heavily influenced by macroeconomic uncertainty.
- Tue5Jan
This event will test the market's reaction to potential regulatory risks associated with key competitor drugs in the ITP/wAIHA space, which could impact RIGL's competitive positioning and investor sentiment. The outcome will depend on how the regulatory environment evolves and whether RIGL's own drug candidates are perceived as viable alternatives.
- Sun10Jan
The release of Phase 1/2 data for RIGL's next-generation asset will test the market's appetite for early-stage clinical results, particularly in the context of its potential to address unmet medical needs. This will also provide insight into the drug's safety and efficacy profile.
- Sun10Jan
This event will test the market's reaction to new data or updates on the Phase 3 trial for Fostamatinib in wAIHA, which could influence perceptions of the drug's efficacy and its potential to gain regulatory approval. The outcome will be closely watched by investors and stakeholders.
- Tue9Feb
This report will test the company's ability to maintain momentum from the previous quarter, with a focus on the performance of its Phase 3 trials and any updates on regulatory filings. The last similar print was more influenced by external macroeconomic factors.
- Tue4May
The earnings report will test the company's ability to deliver on its long-term growth strategy, with a focus on the performance of its key drug candidates and any updates on regulatory filings. This differs from the last report, which was more heavily influenced by macroeconomic uncertainty.
- Tue3Aug
This report will test the company's ability to maintain momentum from the previous quarter, with a focus on the performance of its Phase 3 trials and any updates on regulatory filings. The last similar print was more influenced by external macroeconomic factors.
Past
- Tue4Aug
Actual outcome: Bull · $41.86 at outcome
RIGL beat EPS estimates and provided positive forward guidance, signaling stabilization in demand. The company also highlighted strategic developments, including rebranding efforts and Microsoft designations, which reinforced long-term growth prospects. These factors drove the stock higher, surpassing the bull target despite a minor EPS beat.
Q2 2026 earnings will test whether the recent VEPPANU licensing momentum translates into fundamental revenue stability or if baseline TAVALISSE sales are lagging.
- Wed15Jul
Actual outcome: Bear · $37.85 at outcome
The stock fell 8.0% following the event, reflecting investor concern over the dilution overhang and the company's cash position. The price action aligned with the bear floor, indicating that the market reacted negatively to the potential equity raise, despite the stock later rebounding to $48.90. The initial decline was driven by fears of reduced shareholder value and increased dilution, which overshadowed any positive fundamentals.
With shares trading near $42.56 and an RSI of 82.2, there is significant overhang risk of an opportunistic equity raise to bolster the $24.4M cash position.
- Tue5May
Actual outcome: Bull · $28.30 at outcome
Rigel initially reported a Q1 earnings miss, with EPS of $0.44 falling short of the $0.74 estimate alongside $58.8 million in total revenues. However, shares surged well past the bull target following the announcement of an exclusive global licensing agreement with Arvinas and Pfizer for VEPPANU, an oral PROTAC drug for breast cancer, which overshadowed the earnings shortfall and drove strong bullish momentum.
Q1 2026 results and commentary on TAVALISSE demand, cash flow, and R&D spend, with a clean beat and constructive tone supporting a rebound toward $25.00 and another miss or cautious outlook pulling shares toward $25.00.
- Tue3Mar
Actual outcome: Bear · $28.44 at outcome
Rigel missed Q4 earnings estimates, reporting $1.14 per share against an expected $1.33, which overshadowed record TAVALISSE product sales of $65.4 million. This bottom-line miss undermined the bull case for a valuation re-rating based on sustained profitability, causing the stock to drop significantly below the bear floor by the run date.
Market validates the strong profitability and revenue growth observed in H2 2025. Consensus expects sustained TAVALISSE sales acceleration and positive net income. A strong beat on EPS/Revenue and optimistic 2026 guidance will drive a re-rating of the stock's low P/E.
