RIGEL PHARMACEUTICALS INC

RIGL · Pharmaceutical Preparations · 18.5M shares · -43%/yr ↓ buyback · EDGAR filings ↗

Reference price $35.00 · est. market cap ~$648M — last insider sale, 2026-06-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

B78

Hematology/oncology pharma (Tavalisse/Rezlidhia) — strongly profitable with elite returns; net margin tax-aided.

Strengths

Elite returns — ROA 71% (99th), ROE 94% (91st), operating margin 43% (96th)
Strong cash flow — OCF margin 26%, debt-light

Risks

Net margin 125% reflects a tax benefit, not run-rate — per 10-K
Small-portfolio concentration — per 10-K
Commercial-execution dependence — per 10-K

Notable findings

Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
Exec changeRecent 8-K item 5.02 8-K ↗
Strong balance sheetStrong balance sheet — $155M cash & investments
Buying back stockNet buyback — share count -43%/yr over 4y
Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, RENAISSANCE TECHNOLOGIES LLC +2 more (as of 2026-03-31)
Revenue declineRevenue -15.7% YoY
Insider sellingInsider selling — 3 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$305,865, last 6mo) Form 4 ↗

Quarterly revenue

2025-06-30 · $102M2025-09-30 · $69M2025-12-31 · $70M2026-03-31 · $59M

Last 4 quarters · from SEC filings.

Key metrics

Gross margin

93.3%

Operating margin

42.6%

Net margin

124.7%

Return on equity

93.8%

Return on assets

71.5%

ROIC

22.3%

Revenue growth (QoQ)

-15.7%

Debt / equity

0.1×

Net debt / EBITDA

-0.8×

Current ratio

2.4×

EBITDA

$128M

Tangible book value

$367M

Cash & investments

$155M

Stock comp / revenue

4.3%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-06-22	Ali-Jackson Kamil	Sell	2.5K	$35.00
2026-06-01	Schorno Dean L	Option exercise	2.2K	$12.70
2026-06-01	Schorno Dean L	Tax withheld	928	$29.86
2026-06-01	Santos David A	Tax withheld	874	$29.86
2026-06-01	Rojkjaer Lisa	Tax withheld	850	$29.86
2026-06-01	RODRIGUEZ RAUL R	Tax withheld	2.4K	$29.86
2026-06-01	Furey Raymond J.	Tax withheld	877	$29.86
2026-06-01	Schorno Dean L	Option exercise	1.2K	$18.70
2026-05-26	Ali-Jackson Kamil	Sell	2.5K	$29.17
2026-05-15	Wasman Jane	Grant	5.8K	—
2026-05-15	MOOS WALTER H	Grant	5.8K	—
2026-05-15	MILLER MICHAEL PATRICK	Grant	5.8K	—
2026-05-15	LAPOINTE ANTHONY GREGG	Grant	5.8K	—
2026-05-15	HANNAH ALISON L.	Grant	5.8K	—
2026-05-15	Frohlich Mark W	Grant	5.8K	—
2026-05-15	Ali-Jackson Kamil	Grant	5.8K	—
2026-02-20	MOOS WALTER H	Option exercise	4.0K	$24.00
2026-02-20	MOOS WALTER H	Sell	4.0K	$36.36
2026-02-17	Furey Raymond J.	Grant	19K	—
2026-02-17	RODRIGUEZ RAUL R	Grant	54K	—
2026-02-17	Santos David A	Grant	19K	—
2026-02-17	Rojkjaer Lisa	Grant	19K	—
2026-02-17	Schorno Dean L	Grant	21K	—
2026-02-10	Santos David A	Tax withheld	3.5K	$34.62
2026-02-10	Schorno Dean L	Tax withheld	3.5K	$34.62
2026-02-10	Rojkjaer Lisa	Tax withheld	3.8K	$34.62
2026-02-10	Furey Raymond J.	Tax withheld	3.5K	$34.62
2026-02-10	RODRIGUEZ RAUL R	Tax withheld	7.6K	$34.62
2026-02-02	Santos David A	Tax withheld	5.7K	$36.01
2026-02-02	Schorno Dean L	Tax withheld	5.5K	$36.01
2026-02-02	Furey Raymond J.	Tax withheld	4.0K	$36.01
2026-02-02	RODRIGUEZ RAUL R	Tax withheld	14K	$36.01
2026-01-26	RODRIGUEZ RAUL R	Option exercise	40K	$27.40
2026-01-26	RODRIGUEZ RAUL R	Tax withheld	35K	$37.00
2026-01-26	RODRIGUEZ RAUL R	Option exercise	40K	$27.40
2026-01-26	RODRIGUEZ RAUL R	Tax withheld	35K	$37.00
2025-12-22	Schorno Dean L	Option exercise	2.0K	$20.00
2025-12-22	Schorno Dean L	Option exercise	1.7K	$18.70
2025-12-22	Schorno Dean L	Option exercise	2.8K	$24.20
2025-05-23	MOOS WALTER H	Grant	2.5K	—
2025-05-23	HANNAH ALISON L.	Grant	2.5K	—
2025-05-23	Frohlich Mark W	Grant	1.2K	—
2025-05-23	LAPOINTE ANTHONY GREGG	Grant	2.5K	—
2025-05-23	Wasman Jane	Grant	2.5K	—
2025-05-23	Ali-Jackson Kamil	Grant	2.5K	—
2025-02-05	Furey Raymond J.	Sell	1.3K	$21.93
2025-02-05	Schorno Dean L	Sell	1.7K	$21.93
2025-02-05	RODRIGUEZ RAUL R	Sell	4.4K	$21.93
2025-02-05	Santos David A	Sell	1.8K	$21.93
2025-02-04	RODRIGUEZ RAUL R	Sell	5.0K	$20.92
2025-02-04	Schorno Dean L	Sell	2.0K	$20.92
2025-02-04	Santos David A	Sell	2.1K	$20.92
2025-02-04	Furey Raymond J.	Sell	1.4K	$20.92
2025-01-29	Rojkjaer Lisa	Grant	20K	—
2025-01-29	RODRIGUEZ RAUL R	Grant	42K	—
2025-01-29	Schorno Dean L	Grant	20K	—
2025-01-29	Santos David A	Grant	20K	—
2025-01-29	Furey Raymond J.	Grant	20K	—
2025-01-24	RODRIGUEZ RAUL R	Option exercise	45K	$21.40
2025-01-24	RODRIGUEZ RAUL R	Tax withheld	44K	$22.17
2025-01-24	RODRIGUEZ RAUL R	Option exercise	45K	$21.40
2025-01-24	RODRIGUEZ RAUL R	Tax withheld	44K	$22.17

All non-derivative Form 4 activity (SEC), newest first.

Supply chain

Customers (0)

Suppliers (4)

Blueprint Medicines Corporation
Forma Therapeutics, Inc.
Novo Nordisk
Sanofi SA

Named in the 10-K; linked when we track them.

Notable events (8-K)

Date	Items
2026-06-17	Acquisition/disposition	filing ↗
2026-05-20	Exec/director changeShareholder vote	filing ↗
2026-05-12	Material agreement	filing ↗
2026-05-05	ResultsExhibits	filing ↗
2026-04-21	1.02	filing ↗
2026-03-03	ResultsExhibits	filing ↗
2026-02-03	Exec/director change	filing ↗
2026-01-12	ResultsOtherExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-06-17	2026-06-11	0001034842-26-000043 ↗
8-K	2026-05-20	2026-05-14	0001034842-26-000041 ↗
8-K	2026-05-12	2026-05-11	0001034842-26-000038 ↗
8-K	2026-05-05	2026-05-05	0001034842-26-000033 ↗
10-Q	2026-05-05	2026-03-31	0001034842-26-000032 ↗
8-K	2026-04-21	2026-04-16	0001034842-26-000027 ↗
8-K	2026-03-03	2026-03-03	0001034842-26-000016 ↗
10-K	2026-03-03	2025-12-31	0001034842-26-000015 ↗
8-K	2026-02-03	2026-02-01	0001034842-26-000007 ↗
8-K	2026-01-12	2026-01-12	0001034842-26-000005 ↗
8-K	2025-12-10	2025-12-07	0001104659-25-119976 ↗
8-K	2025-11-04	2025-11-04	0001104659-25-106282 ↗