Rigel Pharmaceuticals, Inc. (RIGL) has announced its expectations for the fourth quarter, projecting a total revenue of $57.6 million, a significant increase from $35.8 million in the same period of 2023. The company also anticipates reporting net product sales of $46.5 million, compared to $29.5 million for the corresponding quarter of 2023.
For the full fiscal year, Rigel anticipates total revenue of $179.3 million, which includes net product sales amounting to $144.9 million. This marks a notable rise from the previous year's figures, with total revenue at $116.9 million and net product sales at $104.3 million in 2023. The company projects that it will have approximately $77.3 million in cash, cash equivalents, and short-term investments by December 31, 2024.
Looking ahead to 2025, Rigel forecasts total revenues ranging between $200 million and $210 million, with expectations that net product sales will fall between $185 million and $192 million. The company is optimistic about reporting a positive net income for 2025. Furthermore, Rigel intends to commence a Phase 2 clinical trial focused on recurrent glioma within that year.
