Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Rigel Pharmaceuticals’ (RIGL - Snapshot Report) fourth quarter 2012 loss of 30 cents per share was narrower than the Zacks Consensus Estimate of a loss of 32 cents and the year-ago loss of 36 cents. The narrower-than-expected loss was primarily due to the lower share count in the final quarter of 2012.

Rigel Pharma did not generate any revenues this quarter as well as in the prior year quarter. Research and development expenses came in at $19.8 million in the final quarter of 2012, flat year over year. General and administrative (G&A) expenses decreased 3.3% to $5.8 million in the final quarter of 2012.

Rigel Pharma suffered a loss of $1.32 per share in 2012, narrower than the 2011 loss of $1.36. The Zacks Consensus Estimate for 2012 hinted at a loss of $1.35 per share. Revenues decreased 52.6% to $2.3 million in 2012, short of the Zacks Consensus Estimate of $3 million.

All revenues in 2012 came from contracts. Contract revenue in 2012 primarily consisted of a $1 million upfront payment from AstraZeneca (AZN - Analyst Report) related to pipeline candidate R256 (moderate to severe chronic asthma). Contract revenue also included a payment of $0.8 million from Daiichi Sankyo pertaining to an oncology candidate.

We are encouraged by Rigel Pharma’s efforts to develop its pipeline.  In Dec 2012, Rigel Pharma and partner AstraZeneca announced top-line data from the phase IIb OSKIRA-4 study evaluating the use of oral fostamatinib for rheumatoid arthritis (RA).

The OSKIRA (Oral Syk Inhibition in Rheumatoid Arthritis)-4 study evaluated fostamatinib as a monotherapy in patients who had never been prescribed a disease-modifying anti-rheumatic drug (DMARD), or are intolerant or show insufficient response to DMARDs.

The pivotal phase III OSKIRA program is ongoing, results from which are expected in the second quarter of 2013. AstraZeneca plans to submit a marketing application in the US by year end.

Rigel Pharma currently carries a Zacks Rank #4 (Sell). Lannett Inc. (LCI - Snapshot Report) and QLT Inc. (QLTI - Analyst Report) are well placed in the pharmaceutical space with a Zacks Rank #1 (Strong Buy).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GRP IN DXYN 15.84 +7.90%
BOFI HLDG IN BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%