Rigel Pharmaceuticals (RIGL) Jefferies 2024 Global Healthcare Conference summary

Commercial portfolio and market performance

• Tavalisse has shifted to earlier lines of ITP treatment, now with over 70% of patients in second and third line, leading to improved response rates and sustained patient outcomes.

• New patient starts and sales for Tavalisse rebounded strongly post-COVID, with Q4 2023 and Q1 2024 marking record demand.

• International partnerships with Grifols, Kissei, Medison, and Knight support global reach for Tavalisse.

• Rezlidhia, for relapsed/refractory AML with IDH1 mutation, shows a 35% CR/CRh rate and durable responses of up to 28 months.

• Rezlidhia's adoption is expanding from institutions to community settings, with 25% of Q1 patients from the community.

Pipeline expansion and product acquisitions

• Gavreto, a once-daily RET inhibitor for NSCLC and thyroid cancer, was acquired and will launch in July, leveraging an experienced sales force.

• Gavreto holds about 50% of the first-line RET fusion NSCLC market, with opportunities to gain share from multi-kinase and chemo/ICI treatments.

• ARROW study data show high response rates for Gavreto: 63–80% in NSCLC, 91% in thyroid cancer, and 57% in other solid tumors.

• Initial focus will be on retaining current Gavreto users, with expansion to new prescribers planned for Q4.

• The company aims to reach break-even soon, with top-line growth outpacing expenses due to portfolio synergies.

Strategic collaborations and R&D initiatives

• Ongoing in-licensing and acquisition strategy targets late-stage, differentiated assets in hematology, oncology, and related fields.

• Collaborations with MD Anderson and CONNECT focus on expanding olutasidenib (Rezlidhia) into first-line AML, MDS, and high-grade glioma.

• CONNECT umbrella trial will rapidly enroll IDH1 mutant glioma patients, aiming to generate impactful data.

• IRAK1/4 inhibitor in phase Ib for low-risk MDS, with data expected by year-end, targets pro-inflammatory bone marrow environments.

• Partnership with Lilly on RIP1 inhibitor continues, with phase II in RA underway.