Rigel Pharmaceuticals (RIGL) investor relations material

Strategic growth and transformation

• Four interlocking objectives: grow commercial business, in-license/acquire new products, advance internal pipeline, and maintain financial discipline.

• Transitioned from a single-product, cash-consuming company in 2020 to three commercial products and profitability by Q3 2024, generating over $100 million in cash in five quarters.

• By 2030, aims for at least four commercial products, continued in-licensing, and R289 hitting the market.

Commercial business and product portfolio

• Three main products: TAVALISSE (ITP), REZLIDHIA (mutant IDH1 AML), and GAVRETO (RET fusion-positive cancers), all showing growth, with TAVALISSE and REZLIDHIA up 31% in Q1.

• International expansion through partnerships in Europe, Asia, and Latin America, with increasing approvals and launches.

In-licensing and business development

• Recent in-licenses: REZLIDHIA (2022), GAVRETO (2024), and VEPPANU (2026), targeting late-stage, synergistic assets for rapid cash accretion.

• VEPPANU, a first-in-class FDA-approved PROTAC for ER-positive, HER2-negative, ESR1-mutant metastatic breast cancer, is expected to be the largest product and key growth driver.

• Deal terms: $70M upfront, $15M transition, $60M regulatory, $260M commercial milestones, tiered royalties, and up to $40M for ongoing trials.