RIGL Earnings Prediction
The chart below shows how RIGL performed 10 days before and after its earnings report, based on data from the past quarters. Typically, RIGL sees a -0.44% change in stock price 10 days leading up to the earnings, and a +1.84% change 10 days following the report. On the earnings day itself, the stock moves by +0.71%. This data can give you a slight idea of what to expect for the next quarter's release.
RIGL Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
57.60M
60.92%
4.14%
Gross Margin
89.95%
0.60%
5.22%
Operating Margin
28.92%
426.78%
13.81%
Net Margin
24.90%
1108.74%
10.86%
EPS
0.80
1900.00%
14.29%
No Data Available
RIGL Earnings Analysis
Rigel Pharmaceuticals Inc Corporation (RIGL.O) Earnings Conference Call
Positive
Record Sales Achievement: Rigel Pharmaceuticals reported a record year of sales in 2024, achieving $145 million in commercial portfolio sales, a 39% increase over 2023.
Gavreto Product Launch Success: The company successfully launched Gavreto, contributing $17.1 million in net product sales since its addition to the portfolio in June 2024.
Sales Growth Highlights: TAVALISSE and Rezlidia also saw significant sales growth, with TAVALISSE generating $31 million in net product sales, a 21% increase year-over-year, and Rezlidia achieving $7.4 million, nearly doubling its revenue from the previous year.
First-Time Net Income: Rigel Pharmaceuticals generated a full-year net income of $17 million for the first time, reflecting strong financial discipline and operational efficiency.
Strong Sales Growth Outlook: The company has a strong growth outlook for 2025, expecting net product sales to reach between $185 million and $192 million, representing a 28% to 32% growth compared to 2024.
Pipeline Advancements and Trials: Rigel's development pipeline is advancing, with R289 showing promising initial safety and efficacy data in a Phase 1b study for lower-risk MDS, and olutasidenib being evaluated in multiple cancer indications.
International Expansion and Collaborations: The company has expanded its international presence, with TAVALISSE receiving regulatory approvals in Mexico and Korea, and new collaborations for Rezlidia in Asia.
Sales Growth and Demand Drive: Rigel's commercial team has effectively driven demand for its products, with consistent quarterly sales growth and successful transitions of patients to Gavreto.
Negative
Cost Increase Challenges: Despite achieving record sales of $145 million in 2024, the company faced significant increases in costs, with total expenses rising to $155.1 million, up from $137.4 million in 2023, primarily due to higher R&D costs and increased personnel-related expenses.
Gross-to-Net Adjustments Impact: The gross-to-net adjustments for TAVALISSE, Rezlidia, and Gavreto were substantial, with adjustments of approximately 33%, 21%, and 23% of gross product sales respectively, indicating a significant impact on net revenues.
Inventory Drawdown Impact: The company anticipates a drawdown in inventory levels in the first quarter of 2025, which may negatively affect sales figures as they normalize after a year-end increase in inventory.
Net Income Improvement: While Rigel reported a net income of $17 million for 2024, this was a significant improvement from a net loss of $25.1 million in 2023, indicating that while the company is moving towards profitability, it still faced substantial losses in the previous year.
Product Dependency Risks: The company is heavily reliant on the success of its three main products, and any setbacks in their performance could significantly impact future revenue growth, especially as they project a 28% to 32% growth in net product sales for 2025.
RIGL FAQs
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RIGL Earning Call Sentiment
Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Q4 2024 Earnings Call Transcript
RIGL.O
-8.11%Positive
The earnings call reveals strong financial performance with significant growth in net product sales and net income. Despite some supply chain challenges and economic concerns, the positive net income and strong revenue growth suggest a favorable market reaction. However, the lack of a share buyback program and unclear management responses in the Q&A section slightly temper expectations. Given the company's market cap, a positive stock price movement of 2% to 8% is likely over the next two weeks.
