Positive Performance, Pipeline Restructuring: Revenue Guidance Maintained Despite Collaboration Termination

U.S. biotech Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) reported first-quarter 2026 revenue of $58.8 million (approximately KRW 80 billion) and net income of $8.7 million, reaffirming its full-year revenue guidance of $275 million to $290 million (approximately KRW 380 billion to KRW 410 billion).

The company added that commercial sales of its blood-disorder treatment TAVALISSE and oncology therapies GAVRETO and REZLIDHIA are growing, and that enrollment in the Phase 1b dose-expansion cohort of R289 for low-risk myelodysplastic syndromes is proceeding smoothly.

In February, Rigel appointed Michael P. Miller to its board of directors. In May, it restructured its existing $40 million (approximately KRW 50 billion) loan into a revolving credit facility with a maximum commitment of $60 million (approximately KRW 80 billion) instead of repaying the debt. The company also announced that its collaboration with Eli Lilly on ocadusertib will conclude on June 15.

In April, Lilly notified Rigel of its intent to terminate the 2021 licensing and co-development agreement for ocadusertib and other RIPK1 inhibitors. Upon termination, all related assets and rights will revert to Rigel.

Within the biotech sector, global pharmaceutical companies—including Lilly—have been scaling back or discontinuing RIPK1-targeted programs after clinical results fell short of expectations.

Rigel is a commercial-stage biotech focused on blood disorders and oncology. It currently leverages revenues from three FDA-approved products—TAVALISSE, REZLIDHIA and GAVRETO—while advancing its pipeline, including R289.

In the U.S. healthcare and biotech industry, small- and mid-sized biotechs with commercialized assets are increasingly prioritizing pipeline optimization and financial management alongside revenue growth.