Rigel Pharma (RIGL) Reports In-Line Q1 EPS, Revenues Miss

Rigel Pharma (NASDAQ: RIGL) reported Q1 EPS of $0.13, in-line with the analyst estimate of $0.13. Revenue for the quarter came in at $55.76 million versus the consensus estimate of $56.71 million.

"During these extraordinary times, we continue to execute on our business strategy while maintaining our commitment to the well-being of our employees, patients, customers, and community. As the COVID-19 pandemic evolves, we will continue to monitor the impact this will have on our business and operations going forward," said Raul Rodriguez, Rigel\'s president and CEO. "While we began to experience the impact of COVID-19 in the latter part of the first quarter, the performance of our commercial business and progress of enrollment in our warm autoimmune hemolytic anemia clinical trial give us confidence in our ability to regain momentum as the future begins to normalize. We are also exploring opportunities for our earlier stage programs and continue to believe that we can finalize a collaboration by year end. Additionally, we added $30 million to our financial position through a combination of a milestone payment from Grifols and non-dilutive funding from MidCap Financial."

For earnings history and earnings-related data on Rigel Pharma (RIGL) click here.

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