The termination removes a major source of potential future revenue and de-risks Rigel's pipeline, which was dependent on Lilly's development efforts. Traders should assess whether Rigel can independently advance the RIPK1 programs and consider the impact on the company's valuation, particularly given its $600M market cap.
Price Chart
Executive Summary
Rigel Pharmaceuticals announced that Eli Lilly has elected to terminate their 2021 License and Collaboration Agreement, effective June 15, 2026. The agreement covered the development and commercialization of ocadusertib and other RIPK1 inhibitors. Rigel will regain full rights but does not expect future milestones or royalties.
Key Facts
- Eli Lilly terminated the License and Collaboration Agreement dated February 18, 2021
- Termination becomes effective on June 15, 2026
- Agreement covered ocadusertib (R552) and other RIPK1 inhibitors for CNS and non-CNS diseases
- Rigel will regain full rights to the licensed compounds
- Company does not expect to receive future milestones or royalties under the agreement
Financial Impact
Loss of potential future milestone payments and royalties from Lilly; no further revenue expected from the collaboration
Risk Factors
- Loss of development funding and commercialization expertise from Lilly
- Uncertainty around Rigel's ability to independently develop and fund the RIPK1 programs
- Downward pressure on valuation due to lost future royalty stream
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001034842-26-000027 |
| Document: 0001034842-26-000027-index.html | 0001034842-26-000027 |
| Document: 0001034842-26-000027.txt | 0001034842-26-000027 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 4, 2026 8w ago | 8-K | $40.48 $49.42 | ▲ +22.09% | ▲ +22.69% | $46.50 (+14.87%) |
Jun 17, 2026 15w ago | 8-K | $32.91 $41.67 | ▲ +26.62% | ▲ +26.09% | $46.50 (+41.29%) |
Jun 11, 2026 16w ago | Institutional Cluster | $32.08 $43.76 | ▲ +36.41% | ▲ +34.52% | $46.50 (+44.95%) |
May 20, 2026 19w ago | 8-K | $29.19 $35.78 | ▲ +22.58% | ▲ +22.24% | $46.50 (+59.30%) |
May 12, 2026 20w ago | 8-K | $32.13 $32.08 | ▼ −0.16% | ▲ +0.46% | $46.50 (+44.72%) |
May 5, 2026 21w ago | 8-K | $26.67 $30.30 | ▼ −13.61% | ▼ −10.83% | $46.50 (−74.35%) |
Apr 21, 2026 23w ago | 8-K | $30.47 $28.30 | ▲ +7.12% | ▲ +10.29% | $46.50 (−52.61%) |
Apr 3, 2026 25w ago | DEFA14A | $27.36 $29.54 | ▲ +7.97% | ▼ −1.01% | $46.50 (+69.96%) |
US Market Status
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