- Second quarter TAVALISSE® net product sales of
$18.6 million and total revenues of
$29.8 million
- Expanded Rigel's hematology-oncology portfolio by
entering into an exclusive license agreement with Forma
Therapeutics, Inc. for olutasidenib with an expected launch in
2023
- Enrollment completed in Rigel's pivotal Phase 3 clinical
trial in high-risk patients hospitalized with COVID-19 with
top-line data expected year-end
- Management to host a conference call and webcast
today at 4:30 p.m. Eastern Time and
will be joined by Key Opinion Leader and olutasidenib Phase 2
clinical trial investigator, Jorge E.
Cortes, M.D.
SOUTH
SAN FRANCISCO, Calif., Aug. 2, 2022
/PRNewswire/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL)
today reported financial results for the second quarter ended
June 30, 2022, including sales of
TAVALISSE® (fostamatinib disodium hexahydrate) tablets
for the treatment of adults with chronic immune thrombocytopenia
(ITP) who have had an insufficient response to a previous
treatment.
"The second quarter of 2022 was a significant one for Rigel,
marked by the highest quarterly net product sales for
TAVALISSE in ITP since launch. We are also excited about the
strategic expansion of our hematology-oncology portfolio to include
olutasidenib, and the synergy it provides. We believe the addition
of olutasidenib will broaden the reach of the Rigel field force by
providing a potential new therapy for mIDH1 relapsed or refractory
acute myeloid leukemia and other malignancies," said
Raul Rodriguez, Rigel's president
and CEO. "I am pleased with our progress, and believe Rigel is
well-positioned to continue driving momentum for TAVALISSE in ITP
and prepare for the potential launch of olutasidenib in 2023."
Business Update
- In the second quarter of 2022, TAVALISSE net product sales were
$18.6 million, representing the
highest net product sales since launch and an increase of 9%
compared to the second quarter of 2021.
- Today, Rigel announced an exclusive license agreement with
Forma Therapeutics, Inc. (Forma) to develop, manufacture and
commercialize olutasidenib, an oral, small molecule inhibitor of
mutant isocitrate dehydrogenase-1 (mIDH1) for the treatment of
relapsed/refractory acute myeloid leukemia (R/R AML) and other
malignancies. The U.S. Food and Drug Administration (FDA) has
accepted Forma's New Drug Application (NDA) for olutasidenib. The
Prescription Drug User Fee Act (PDUFA) target action date is
February 15, 2023. Olutasidenib is
highly synergistic with Rigel's existing hematology-oncology
focused commercial infrastructure and if approved, would be Rigel's
second commercial product in this space.
- On June 8, 2022, Rigel announced
topline efficacy and safety data from the FORWARD Phase 3 clinical
trial of fostamatinib in patients with warm autoimmune hemolytic
anemia (wAIHA). The trial did not demonstrate statistical
significance in the primary efficacy endpoint of durable hemoglobin
response in the overall study population. The safety profile was
consistent with prior clinical experience, and no new safety issues
were identified. Rigel is conducting an in-depth analysis of this
data to better understand differences in patient characteristics
and outcomes and expects to discuss these findings with the FDA to
determine the path forward in wAIHA.
- In July, Rigel completed enrollment, with 280 patients, in its
pivotal Phase 3 clinical trial evaluating fostamatinib in high-risk
patients hospitalized with COVID-19. The trial had originally
targeted a total of 308 patients; however, Rigel determined the
trial would be sufficiently powered with 280 patients to
potentially provide a clinically meaningful result and determine
the efficacy and safety of fostamatinib in COVID-19. Rigel expects
to report top-line results in Q4 2022 and if the data is positive,
file an Emergency Use Authorization with the FDA.
- In May, Rigel entered into a commercial license agreement with
Knight Therapeutics International SA (Knight) for the
commercialization of TAVALISSE in all indications in Latin America. Rigel received a $2.0 million upfront payment in the second
quarter of 2022, with potential for up to an additional
$20.0 million in regulatory and
sales-based commercial milestone payments, and will receive twenty-
to mid-thirty percent, tiered, escalated net sales-based royalty
payments for products sold in the Knight territory.
- In April, Rigel's partner Kissei Pharmaceutical Co., Ltd.
(Kissei) announced that an NDA was submitted to Japan's Pharmaceuticals and Medical Devices
Agency for fostamatinib in chronic ITP. During the second quarter,
Rigel received a $5.0 million
regulatory milestone in connection with the filing of the NDA.
Financial Update
For the second quarter of 2022, Rigel
reported a net loss of $13.5 million,
or $0.08 per basic and diluted share,
compared to a net loss of $13.8
million, or $0.08 per basic
and diluted share for the same period of 2021.
For the second quarter of 2022, total revenues were $29.8 million, consisting of $18.6 million in TAVALISSE net product sales and
$11.3 million in contract revenues
from collaborations. TAVALISSE net product sales of $18.6 million increased by 9%, compared to
$17.1 million in the second quarter
of 2021. Contract revenues from collaborations during the second
quarter of 2022 consisted of $7.5
million in revenue from Kissei related to a milestone
payment and delivery of fostamatinib supply, $2.0 million in revenue related to the license
agreement with Knight, $1.4 million
in revenue from Grifols related to the delivery of fostamatinib
supply and performance of certain research and development services
pursuant to the collaboration agreement, and $0.3 million in revenue related to the license
agreement with Eli Lilly.
For the second quarter of 2022, total costs and expenses were
$42.8 million, compared to
$39.3 million for the same period of
2021. The increase in costs and expenses was primarily due to
increased commercial activities related to the sales force
expansion, and increased research and development costs for the
IRAK1/4 inhibitor program, partially offset by decreased research
and development costs related to the Phase 3 clinical trial for
wAIHA and the ongoing Phase 3 clinical trial in high-risk
hospitalized patients with COVID-19.
For the six months ended June 30,
2022, Rigel reported a net loss of $40.9 million, or $0.24 per basic and diluted share, compared to a
net income of $25.7 million, or
$0.15 per basic and diluted share,
for the same period of 2021.
For the six months ended June 30,
2022, total revenues were $46.6
million, consisting of $34.7
million in TAVALISSE net product sales and $11.8 million in contract revenues from
collaborations. TAVALISSE net product sales of $34.7 million increased by 18% compared to
$29.4 million in the same period of
2021. Contract revenues from collaborations for the six months
ended June 30, 2022 consisted of
$7.6 million in revenue from Kissei
primarily related to a milestone payment and delivery of
fostamatinib supply, $2.0 million in
revenue related to the license agreement with Knight, $1.7 million in revenue from Grifols related to
the delivery of fostamatinib supply and performance of certain
research and development services pursuant to the collaboration
agreement, and $0.5 million in
revenue related to the license agreement with Eli Lilly.
For the six months ended June 30,
2022, total costs and expenses were $85.8 million, compared to $78.6 million for the same period of 2021. The
increase in costs and expenses was primarily due to increased
commercial related activities related to the sales force expansion,
and increased research and development costs for the IRAK1/4
inhibitor program, partially offset by decreased research and
development costs related to the Phase 3 clinical trial for wAIHA
and the ongoing Phase 3 clinical trial in high-risk hospitalized
patients with COVID-19.
As of June 30, 2022, Rigel had
cash, cash equivalents and short-term investments of $89.2 million, compared to $125.0 million as of December 31, 2021. In July
2022, Rigel accessed an additional $10.0 million term loan through its credit
agreement with MidCap Financial Trust (MidCap) and amended the
terms of the credit agreement which, among other things, allows
Rigel to defer the loan principal payment by one year and extends
the maturity date for the term loans.
Conference Call and Webcast Today at 4:30 p.m. Eastern Time, with Key Opinion Leader
and olutasidenib Phase 2 clinical trial investigator, Jorge E. Cortes, M.D.
Rigel will host a live conference call and webcast today at
4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss financial
results, and provide an update on the business, including the
license agreement with Forma. The conference call will also feature
a presentation of the olutasidenib Phase 2 interim results by
Jorge E. Cortes, M.D., Director,
Georgia Cancer Center at Augusta University, Cecil F. Whitaker Jr., GRA Eminent Scholar Chair
in Cancer, and Phase 2 trial investigator.
Participants can access the live conference call by dialing
(877) 407-3088 (domestic) or (201) 389-0927 (international). The
conference call will also be webcast live and can be accessed from
the Investor Relations section of the company's website at
www.rigel.com. The webcast will be archived and available for
replay after the call via the Rigel website.
About ITP
In patients with ITP (immune
thrombocytopenia), the immune system attacks and destroys the
body's own blood platelets, which play an active role in blood
clotting and healing. Common symptoms of ITP are excessive bruising
and bleeding. People suffering with chronic ITP may live with an
increased risk of severe bleeding events that can result in serious
medical complications or even death. Current therapies for ITP
include steroids, blood platelet production boosters (TPO-RAs), and
splenectomy. However, not all patients respond to existing
therapies. As a result, there remains a significant medical need
for additional treatment options for patients with ITP.
About AML
Acute myeloid leukemia (AML) is a cancer
that starts in a person's bone marrow but often quickly moves into
the blood. AML develops from immature blood cells, known as myeloid
cells, that are supposed to mature into white blood cells. However,
the diseased myeloid cells do not function properly. They instead
multiply rapidly, which causes normal blood cell production to
fail. AML occurs primarily in adults and accounts for about 1
percent of all adult cancers. The American Cancer Society estimates
that in the United States alone,
there will be about 20,050 new cases, most in adults, in
2022.1
Relapsed AML affects about half of all patients who, following
treatment and remission, experience a return of leukemia cells in
the bone marrow.2 Refractory AML, which affects
between 10 and 40 percent of newly diagnosed patients, occurs when
a patient fails to achieve remission even after intensive
treatment.3
About AIHA
Autoimmune hemolytic anemia (AIHA) is a
rare, serious blood disorder in which the immune system produces
antibodies that lead to the destruction of the body's own red blood
cells. Warm antibody AIHA (wAIHA), which is the most common form of
AIHA, is characterized by the presence of antibodies that react
with the red blood cell surface at body temperature. wAIHA affects
approximately 36,000 adult patients in the
U.S.4 and can be a severe, debilitating disease. To
date, there are no disease-targeted therapies approved for wAIHA,
despite the unmet medical need that exists for these patients.
About COVID-19 & SYK Inhibition
COVID-19 is the
infectious disease caused by Severe Acute Respiratory Syndrome
Coronavirus-2 (SARS-CoV-2). SARS-CoV-2 primarily infects the upper
and lower respiratory tract and can lead to acute respiratory
distress syndrome (ARDS). Additionally, some patients develop other
organ dysfunction including myocardial injury, acute kidney injury,
shock resulting in endothelial dysfunction and subsequently micro
and macrovascular thrombosis.5 Much of the
underlying pathology of SARS-CoV-2 is thought to be secondary to a
hyperinflammatory immune response associated with increased risk of
thrombosis.6
SYK is involved in the intracellular signaling pathways of many
different immune cells. Therefore, SYK inhibition may improve
outcomes in patients with COVID-19 via inhibition of key Fc gamma
receptor (FcγR) and c-type lectin receptor (CLR) mediated drivers
of pathology such as pro-inflammatory cytokine release by monocytes
and macrophages, production of neutrophil extracellular traps
(NETs) by neutrophils, and platelet
aggregation. 7,8,9,10 Furthermore, SYK
inhibition in neutrophils and platelets may lead to decreased
thrombo-inflammation, alleviating organ dysfunction in critically
ill patients with COVID-19.
For more information on Rigel's comprehensive clinical program
in COVID-19, go to:
https://www.rigel.com/pipeline/proprietary-programs/covid-19
About TAVALISSE
Indication
TAVALISSE® (fostamatinib
disodium hexahydrate) tablets is indicated for the treatment of
thrombocytopenia in adult patients with chronic immune
thrombocytopenia (ITP) who have had an insufficient response to a
previous treatment.
Important Safety Information
Warnings and Precautions
- Hypertension can occur with TAVALISSE treatment. Patients with
pre-existing hypertension may be more susceptible to the
hypertensive effects. Monitor blood pressure every 2 weeks until
stable, then monthly, and adjust or initiate antihypertensive
therapy for blood pressure control maintenance during therapy. If
increased blood pressure persists, TAVALISSE interruption,
reduction, or discontinuation may be required.
- Elevated liver function tests (LFTs), mainly ALT and AST, can
occur with TAVALISSE. Monitor LFTs monthly during treatment. If ALT
or AST increase to ≥3 x upper limit of normal, manage
hepatotoxicity using TAVALISSE interruption, reduction, or
discontinuation.
- Diarrhea occurred in 31% of patients and severe diarrhea
occurred in 1% of patients treated with TAVALISSE. Monitor patients
for the development of diarrhea and manage using supportive care
measures early after the onset of symptoms. If diarrhea becomes
severe (≥Grade 3), interrupt, reduce dose or discontinue
TAVALISSE.
- Neutropenia occurred in 6% of patients treated with TAVALISSE;
febrile neutropenia occurred in 1% of patients. Monitor the ANC
monthly and for infection during treatment. Manage toxicity with
TAVALISSE interruption, reduction, or discontinuation.
- TAVALISSE can cause fetal harm when administered to pregnant
women. Advise pregnant women the potential risk to a fetus. Advise
females of reproductive potential to use effective contraception
during treatment and for at least 1 month after the last dose.
Verify pregnancy status prior to initiating TAVALISSE. It is
unknown if TAVALISSE or its metabolite is present in human milk.
Because of the potential for serious adverse reactions in a
breastfed child, advise a lactating woman not to breastfeed during
TAVALISSE treatment and for at least 1 month after the last
dose.
Drug Interactions
- Concomitant use of TAVALISSE with strong CYP3A4 inhibitors
increases exposure to the major active metabolite of TAVALISSE
(R406), which may increase the risk of adverse reactions. Monitor
for toxicities that may require a reduction in TAVALISSE dose.
- It is not recommended to use TAVALISSE with strong CYP3A4
inducers, as concomitant use reduces exposure to R406.
- Concomitant use of TAVALISSE may increase concentrations of
some CYP3A4 substrate drugs and may require a dose reduction of the
CYP3A4 substrate drug.
- Concomitant use of TAVALISSE may increase concentrations of
BCRP substrate drugs (eg, rosuvastatin) and P-Glycoprotein (P-gp)
substrate drugs (eg, digoxin), which may require a dose reduction
of the BCRP and P-gp substrate drug.
Adverse Reactions
- Serious adverse drug reactions in the ITP double-blind studies
were febrile neutropenia, diarrhea, pneumonia, and hypertensive
crisis, which occurred in 1% of TAVALISSE patients. In addition,
severe adverse reactions occurred including dyspnea and
hypertension (both 2%), neutropenia, arthralgia, chest pain,
diarrhea, dizziness, nephrolithiasis, pain in extremity, toothache,
syncope, and hypoxia (all 1%).
- Common adverse reactions (≥5% and more common than placebo)
from FIT-1 and FIT-2 included: diarrhea, hypertension, nausea,
dizziness, ALT and AST increased, respiratory infection, rash,
abdominal pain, fatigue, chest pain, and neutropenia.
Please see www.TAVALISSEUSPI.com for full
Prescribing Information.
To report side effects of prescription drugs to the FDA,
visit www.fda.gov/medwatch or call 1-800-FDA-1088
(800-332-1088).
TAVALISSE and TAVLESSE are registered trademarks of Rigel
Pharmaceuticals, Inc.
About Rigel
Rigel Pharmaceuticals, Inc., is a
biotechnology company dedicated to discovering, developing and
providing novel small molecule drugs that significantly
improve the lives of patients with hematologic disorders, cancer
and rare immune diseases. Rigel's pioneering research focuses on
signaling pathways that are critical to disease mechanisms. The
company's first FDA approved product is
TAVALISSE® (fostamatinib disodium hexahydrate)
tablets, the only oral spleen tyrosine kinase (SYK) inhibitor for
the treatment of adult patients with chronic immune
thrombocytopenia who have had an insufficient response to a
previous treatment. The product is also commercially available in
Europe, the United Kingdom (TAVLESSE) and Canada (TAVALISSE) for the treatment of
chronic immune thrombocytopenia in adult patients.
Rigel's portfolio also includes olutasidenib, an oral, small
molecule inhibitor of mutated IDH1 being investigated for the
treatment of relapsed/refractory acute myeloid leukemia (R/R AML)
and other malignancies. Rigel in-licensed olutasidenib from Forma
with exclusive, worldwide rights to develop, manufacture, and
commercialize the investigational agent.
Rigel conducted a Phase 3 clinical trial (NCT03764618)
evaluating fostamatinib for the treatment of warm autoimmune
hemolytic anemia (wAIHA)11. Fostamatinib is also
currently being studied in a Phase 3 clinical
trial (NCT04629703) for the treatment of
hospitalized high-risk patients
with COVID-1911 and an NIH/NHLBI-sponsored Phase 3
clinical trial (ACTIV-4 Host Tissue Trial, NCT04924660) for
the treatment of COVID-19 in hospitalized patients.
Rigel's other clinical programs include its interleukin
receptor-associated kinase (IRAK) inhibitor program, and a
receptor-interacting serine/threonine-protein kinase (RIPK)
inhibitor program in clinical development with partner Eli Lilly
and Company. In addition, Rigel has product candidates in
development with partners BerGenBio ASA and Daiichi
Sankyo.
For further information, visit www.rigel.com or follow
us on Twitter or LinkedIn.
1.
|
The American Cancer
Society. Key statistics for acute myeloid leukemia (AML).
Revised January 12, 2022. Accessed Aug. 1, 2022
at https://www.cancer.org/cancer/acute-myeloid-leukemia/about/key-statistics.html.
|
2.
|
Leukaemia Care.
(2019). Relapse in Acute Myeloid Leukaemia (AML).
Version 3. Reviewed October 2021. Accessed Dec 2,
2021 at https://media.leukaemiacare.org.uk/wp-content/uploads/Relapse-in-Acute-Myeloid-Leukaemia-AML-Web-Version.pdf.
|
3.
|
Thol F, Schlenk RF,
Heuser M, Ganser A. How I treat refractory and early relapsed acute
myeloid leukemia. Blood. 2015 Jul 16;126(3):319-27. Doi:
https://doi.org/10.1182/blood-2014-10-551911. Epub 2015 Apr 7.
PMID: 25852056
|
4.
|
Prevalence: A.
Zanella, et al, haematologica 2014; 99(10); % Warm
AIHA: T. Kalfa; Hematology Am Soc Hematol Educ Program. 2016 Dec 2;
2016(1): 690–697
|
5.
|
Berlin DA, Gulick RM,
and Martinez FJ. Severe Covid-19. N Engl J Med
2020.
DOI: https://doi.org/10.1056/NEJMcp2009575
|
6.
|
Becker RC. COVID-19
Update: COVID-19 associated coagulopathy. Journal of Thrombosis
and Thrombolysis May 15, 2020.
DOI: https://doi.org/10.1007/s11239-020-02134-3
|
7.
|
Hoepel W et
al. High titers and low fucosylation of early
human anti–SARS-CoV-2 IgG promote inflammation by alveolar
macrophages. Science Translational Medicine 02 Jun 2021.
DOI: https://www.doi.org/10.1126/scitranslmed.abf8654
|
8.
|
Sung P-S and Hsieh
S-L. CLEC2 and CLEC5A: Pathogenic Host Factors in Acute
Viral Infections. Frontiers in Immunology December 6, 2019.
DOI: https://doi.org/10.3389/fimmu.2019.02867
|
9.
|
Strich J et
al. Fostamatinib Inhibits Neutrophils Extracellular Traps
Induced by COVID-19 Patient Plasma: A Potential Therapeutic.
Journal of Infectious Disease March 15, 2021.
DOI: https://doi.org/10.1093/infdis/jiaa789
|
10.
|
Bye AP et
al. Aberrant glycosylation of anti-SARS-CoV-2 IgG is a
pro-thrombotic stimulus for platelets. BioRxiv March
26, 2021.
DOI: https://doi.org/10.1101/2021.03.26.437014
|
11.
|
The product for this
use or indication is investigational and has not been proven safe
or effective by any regulatory authority.
|
Forward Looking Statements
This release contains
forward-looking statements relating to, among other things,
our expectations related to the potential and market opportunity
of olutasidenib; reporting of data from the Company's Phase
3 clinical trial of fostamatinib in hospitalized COVID-19 patients;
and expectations related to the potential and market opportunity
for fostamatinib as therapeutic for wAIHA. Any statements contained
in this press release that are not statements of historical fact
may be deemed to be forward-looking statements. Words such as
"potential", "may", "expects", and similar expressions are intended
to identify these forward-looking statements. These forward-looking
statements are based on Rigel's current expectations and inherently
involve significant risks and uncertainties. Actual results and the
timing of events could differ materially from those anticipated in
such forward looking statements as a result of these risks and
uncertainties, which include, without limitation, those
risks and uncertainties relating to that the FDA, European
Medicines Agency or other regulatory authorities may make adverse
decisions regarding olutasidenib; that olutasidenib clinical trials
may not be predictive of real-world results or of results in
subsequent clinical trials; the availability of resources to
develop, manufacture and commercialize olutasidenib; market
competitions; the satisfaction of the conditions to the funding of
the term loans under the amended credit agreement with MidCap and
Rigel's ability to maintain (and otherwise comply with the
covenants in) the amended credit agreement; as well as other
risks detailed from time to time in Rigel's reports filed with the
Securities and Exchange Commission, including its Quarterly Report
on Form 10-Q for the quarter ended March 31,
2022 and subsequent filings. Rigel does not undertake any
obligation to update forward-looking statements and expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein, except as required by law.
Contact for Investors & Media:
Jodi Sievers - Rigel
Pharmaceuticals
Phone: 650.624.1232
Email: ir@rigel.com
RIGEL
PHARMACEUTICALS, INC.
|
STATEMENTS OF
OPERATIONS
|
(in thousands,
except per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
|
|
2022
|
|
2021
|
|
2022
|
|
2021
|
|
|
(unaudited)
|
Revenues:
|
|
|
|
|
|
|
|
|
Product sales,
net
|
$
18,550
|
|
$
17,053
|
|
$
34,747
|
|
$
29,429
|
|
Contract revenues from
collaborations
|
11,269
|
|
3,713
|
|
11,807
|
|
69,355
|
|
Government
contract
|
-
|
|
5,500
|
|
-
|
|
8,500
|
|
Total
revenues
|
29,819
|
|
26,266
|
|
46,554
|
|
107,284
|
Costs and
expenses:
|
|
|
|
|
|
|
|
|
Cost of product
sales
|
1,036
|
|
129
|
|
1,157
|
|
445
|
|
Research and
development (see Note A)
|
14,767
|
|
16,807
|
|
30,241
|
|
33,633
|
|
Selling, general and
administrative (see Note A)
|
26,981
|
|
22,378
|
|
54,382
|
|
44,499
|
|
Total costs and
expenses
|
42,784
|
|
39,314
|
|
85,780
|
|
78,577
|
Income (loss) from
operations
|
(12,965)
|
|
(13,048)
|
|
(39,226)
|
|
28,707
|
|
Interest
income
|
42
|
|
16
|
|
63
|
|
17
|
|
Interest
expense
|
(569)
|
|
(1,759)
|
|
(1,774)
|
|
(2,244)
|
Income (loss) before
income taxes
|
(13,492)
|
|
(14,791)
|
|
(40,937)
|
|
26,480
|
Provision for (benefit
from) income taxes
|
-
|
|
(970)
|
|
-
|
|
801
|
Net income
(loss)
|
$
(13,492)
|
|
$
(13,821)
|
|
$
(40,937)
|
|
$
25,679
|
|
|
|
|
|
|
|
|
|
Net income (loss) per
share, basic and diluted
|
|
|
|
|
|
|
|
|
Basic
|
$
(0.08)
|
|
$
(0.08)
|
|
$
(0.24)
|
|
$
0.15
|
|
Diluted
|
$
(0.08)
|
|
$
(0.08)
|
|
$
(0.24)
|
|
$
0.15
|
|
|
|
|
|
|
|
|
|
Weighted average shares
used in computing net income (loss) per share, basic and
diluted
|
|
|
|
|
|
|
|
|
Basic
|
172,147
|
|
170,192
|
|
171,961
|
|
169,997
|
|
Diluted
|
172,147
|
|
170,192
|
|
171,961
|
|
175,912
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note
A
|
|
|
|
|
|
|
|
Stock-based
compensation expense included in:
|
|
|
|
|
|
|
|
|
Selling, general and
administrative
|
$
1,933
|
|
$
1,772
|
|
$
4,672
|
|
$
3,825
|
|
Research and
development
|
458
|
|
534
|
|
926
|
|
1,120
|
|
|
$
2,391
|
|
$
2,306
|
|
$
5,598
|
|
$
4,945
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUMMARY BALANCE
SHEET DATA
|
(in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
June
30,
|
|
December
31,
|
|
|
|
|
|
|
2022
|
|
2021
(1)
|
|
|
|
|
|
|
(unaudited)
|
|
|
|
|
|
|
Cash, cash equivalents
and short-term investments
|
$
89,166
|
|
$
124,967
|
|
|
|
|
Total
assets
|
128,001
|
|
167,328
|
|
|
|
|
Stockholders' equity
(deficit)
|
(3,677)
|
|
30,374
|
|
|
|
|
(1)
|
Derived from audited
financial statements
|
|
|
|
|
|
|
|
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SOURCE Rigel Pharmaceuticals, Inc.