The 40% EPS miss signals deteriorating profitability despite revenue growth. Watch for analyst downgrades and potential cost-cutting measures. The reaffirmed guidance provides a floor, but the collaboration termination adds pipeline uncertainty. Monitor next quarter's margins and any updates on the R289 Phase 1b study.
Price Chart
Executive Summary
Rigel Pharmaceuticals reported Q1 2026 GAAP diluted EPS of $0.44, missing consensus of $0.74 by 40.5%, despite 10% YoY revenue growth to $58.8M. Net income declined 24% YoY to $8.7M, and the company maintained its full-year revenue guidance of $275-290M. The miss was driven by higher R&D and SG&A costs, overshadowing strong product sales growth.
Key Financial Metrics
Key Facts
- Q1 2026 total revenues: $58.8M (up 10% YoY from $53.3M)
- Net product sales: $54.9M (up 26% YoY)
- GAAP diluted EPS: $0.44 vs consensus $0.74 (40.5% miss)
- Net income: $8.7M vs $11.4M in Q1 2025 (down 24%)
- 2026 revenue guidance reaffirmed at $275-290M
- Eli Lilly terminated collaboration on ocadusertib (effective June 15, 2026)
- Debt restructured: repaid $40M term loan, drew $8M on new $40M revolver
- Cash, cash equivalents and short-term investments: $146.7M as of March 31, 2026
Financial Impact
EPS miss of $0.30 vs consensus; net income decline of $2.8M YoY
Risk Factors
- Eli Lilly collaboration termination may impact future royalty streams
- Rising R&D and SG&A expenses pressuring margins
- High dependence on TAVALISSE sales (68% of product revenue)
- Potential need for additional capital if profitability continues to decline
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001034842-26-000033 |
| Document: 0001034842-26-000033-index.html | 0001034842-26-000033 |
| Document: 0001034842-26-000033.txt | 0001034842-26-000033 |
| 8-K Data (Synthetic) | 0001034842-26-000033 |
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%) |
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