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RIGL-News
RIGL-Events
Rigel Pharmaceuticals Announces Veppanu Now Available in the U.S.
Rigel Pharmaceuticals announced Veppanu - vepdegestrant - is now available by prescription in the U.S. for the treatment of adults with estrogen receptor-positive/human epidermal growth factor receptor 2-negative, estrogen receptor 1-mutated advanced or metastatic breast cancer, as detected by a FDA-authorized test, with disease progression following at least one line of endocrine therapy. Veppanu is the first and only FDA-approved PROteolysis TArgeting Chimera, or PROTAC. PROTACs are a new class of heterobifunctional protein degraders designed to harness the body's natural machinery to selectively degrade, rather than inhibit, disease-causing proteins.
Rigel Reports Q2 Revenue of $78.7M, Beating Expectations
Reports Q2 revenue $78.7M, consensus $55.27M. "Rigel delivered a strong Q2, highlighted by record net product sales, continued profitability and the in-license of VEPPANU, the first and only FDA-approved PROTAC for patients with ER+/HER2-, ESR1-mutated advanced or metastatic breast cancer. We expect VEPPANU to be commercially available later this month, further expanding our commercial business in hematology and oncology," said Raul Rodriguez, Rigel's president and CEO. "We are also advancing the development of R289 in our ongoing Phase 1b study in patients with R/R lower-risk MDS, and remain on track to complete enrollment in the dose expansion phase of the study, select a recommended Phase 2 dose in the second half of 2026 and share preliminary data by year end."
FY26 Revenue Consensus at $278.89M
Consensus is for FY26 revenue $278.89M. Sees FY26 net product sales $255M-$265M; and contract revenues $30M, an increase from the prior range of approximately $20M-$25M.
Rigel Pharmaceuticals Appoints Alison L. Hannah as Chief Medical Officer
Rigel Pharmaceuticals announced the appointment of Alison L. Hannah, to the role of Executive Vice President and Chief Medical Officer. Hannah has resigned from Rigel's Board of Directors, effective July 1, in connection with her appointment. She succeeds Lisa Rojkjaer, as Chief Medical Officer. Alison L. Hannah has held the roles of Chief Medical Officer of CytomX Therapeutics, where she oversaw clinical development of conditionally activated protein therapeutics, and Senior Medical Director at SUGEN where she had oversight of clinical development, clinical operations, and pharmacovigilance, specializing in the development of tyrosine kinase inhibitors, including sunitinib approved for the treatment of kidney cancer and imatinib-refractory gastrointestinal stromal tumors. Hannah has served as a consultant to the pharmaceutical and biotechnology industry since 2000, directing the development of investigational cancer therapies. Hannah received her B.A. in biochemistry and immunology from Harvard University and her M.D. from the University of St Andrews. Rigel's leading pipeline asset, R2891, a potent and selective dual inhibitor of interleukin receptor-associated kinases 1 and 4, continues to be advanced in its Phase 1b clinical study evaluating the safety, tolerability, pharmacokinetics, and preliminary efficacy in patients with relapsed or refractory lower-risk myelodysplastic syndrome.
Rigel Pharmaceuticals Closes License Agreement for VEPPANU with Arvinas and Pfizer
Rigel Pharmaceuticals announced the closing of its license agreement for VEPPANU, or vepdegestrant, following the early termination of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976 and satisfaction of other customary closing conditions. Rigel previously announced it entered into an exclusive, global license agreement with Arvinas (ARVN) and Pfizer (PFE) to develop, manufacture and commercialize VEPPANU. VEPPANU is approved by the FDA for the treatment of adults with estrogen receptor-positive/human epidermal growth factor receptor 2-negative-estrogen receptor 1-mutated advanced or metastatic breast cancer, as detected by an FDA-authorized test, with disease progression following at least one line of endocrine therapy. The agreement is effective as of June 11 and Rigel has made the upfront payment of $70.0M to be distributed evenly between Arvinas and Pfizer, consistent with the terms of the agreement. Rigel expects to make VEPPANU commercially available in August.
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