Rigel Pharmaceuticals (RIGL) Jefferies London Healthcare Conference 2024 summary

Commercial performance and product portfolio

• Achieved 44% year-over-year growth in net product sales, reaching nearly $39 million in Q3 2023.

• Three marketed products: Tavalisse, Rezlidhia, and Gavreto, each showing strong commercial traction.

• Tavalisse sales grew 16% year-over-year, with 2,797 bottles shipped and $26.3 million in Q3 revenue.

• Rezlidhia posted 100% year-over-year growth and $5.5 million in net sales, with expanded rights in Asia.

• Gavreto generated $7.1 million in Q3 sales after a successful transition from previous distributors.

Market opportunities and strategic expansion

• Tavalisse targets a growing chronic ITP market, with about 24,000 addressable patients at any time.

• Rezlidhia addresses a significant unmet need in IDH1-positive relapsed/refractory AML, with about 1,000 patients annually.

• Gavreto aims to increase share in the RET inhibitor market for non-small cell lung cancer and advanced thyroid cancer.

• International collaborations with partners in Europe, Asia, Canada, and Latin America support global expansion.

• Ongoing pursuit of in-licensing and product acquisition to further expand the portfolio.

Research and development pipeline

• Advancing olutasidenib in AML, MDS, and glioma through collaborations with MD Anderson and CONNECT.

• Initiated a phase II trial in AML combining olutasidenib with decitabine and venetoclax.

• Preparing a phase II study in high-grade gliomas with CONNECT, focusing on IDH1-positive mutations.

• IRAK1/4 inhibitor program progressing in lower-risk MDS, with promising preclinical and early clinical data.

• Dose range finding study in lower-risk MDS nearing completion, with plans for dose expansion and registration pathway.