Rigel Pharmaceuticals Inc
RIGLHealthcare|Biotechnology|USA
$42.55
-1.22 (-2.79%)
DCF (FCF)
$12.26
Tangible Book
$20.33
Graham Number
$92.54
Financials
Financial Snapshot
Market Cap
$787.3M
Enterprise Value
$101.0M
Revenue (TTM)
$299.8M
Net Income (TTM)
$364.2M
Cash & Equivalents
—
Net Cash/Share
$2.27
Free Cash Flow (TTM)
$79.3M
Operating CF (TTM)
$79.3M
Debt/Equity
0.11
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $74.8M | $115.8M | $128.5M | $98.1M | $57.3M | $125.0M | $58.2M | $56.9M | $77.3M | $155.0M | $146.7M | |
| Operating Cash Flow | $-75.9M | $-77.6M | $-58.8M | $-41.5M | $-52.2M | $5.9M | $-73.8M | $-5.7M | $31.5M | $75.7M | $79.3M | |
| Free Cash Flow | $-76.7M | $-77.7M | $-59.9M | $-43.0M | $-53.4M | $5.3M | $-74.2M | $-20.7M | $31.1M | $75.7M | $79.3M | |
| Capital Expenditure | $-804.0K | $-164.0K | $-1.1M | $-1.5M | $-1.3M | $-627.0K | $-450.0K | $-15.0M | $-396.0K | $0.00 | $0.00 | |
| Financing Cash Flow | $25.2M | $117.7M | $71.9M | $11.4M | $12.6M | $62.7M | $6.5M | $18.4M | $-11.6M | $601.0K | $-10.8M |
R&D Spending
R&D (TTM)
$36.5M
R&D Intensity
12.2%
R&D Growth YoY
+9.7%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.4M | $4.5M | $44.5M | $59.3M | $108.6M | $149.2M | $120.2M | $116.9M | $179.3M | $294.3M | $299.8M | |
| R&D Expense | $63.4M | $46.3M | $46.9M | $52.9M | $60.1M | $65.2M | $60.3M | $24.5M | $23.4M | $33.3M | $36.5M | |
| R&D % of Revenue | 311.3% | 1031.9% | 105.4% | 89.2% | 55.3% | 43.7% | 50.1% | 21.0% | 13.0% | 11.3% | 12.2% | |
| SG&A | $20.9M | $37.8M | $70.0M | $74.6M | $76.6M | $91.9M | $112.5M | $105.7M | $113.1M | $115.9M | $118.8M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.4M | $4.5M | $44.5M | $59.3M | $108.6M | $149.2M | $120.2M | $116.9M | $179.3M | $294.3M | $299.8M | |
| Cost of Goods Sold | $0.00 | $0.00 | $287.0K | $906.0K | $895.0K | $1.1M | $1.7M | $7.1M | $18.6M | $19.6M | $19.8M | |
| Gross Profit | $20.4M | $4.5M | $44.2M | $58.4M | $107.7M | $148.2M | $118.5M | $109.8M | $160.6M | $274.7M | $279.9M | |
| R&D | $63.4M | $46.3M | $46.9M | $52.9M | $60.1M | $65.2M | $60.3M | $24.5M | $23.4M | $33.3M | $36.5M | |
| SG&A | $20.9M | $37.8M | $70.0M | $74.6M | $76.6M | $91.9M | $112.5M | $105.7M | $113.1M | $115.9M | $118.8M | |
| Operating Income | $-64.0M | $-79.6M | $-72.7M | $-69.1M | $-29.0M | $-9.0M | $-54.2M | $-20.5M | $24.2M | $125.5M | $124.6M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $-335.0K | $-1.4M | $-4.9M | $-3.7M | $-6.9M | $-7.9M | $-7.3M | $-6.9M | |
| Pretax Income | $-69.2M | $-78.0M | $-70.5M | $-66.9M | $-29.7M | $-17.3M | $-58.6M | $-25.1M | $18.4M | $121.8M | $122.0M | |
| Net Income | $-69.2M | $-78.0M | $-70.5M | $-66.9M | $-29.7M | $-17.9M | $-58.6M | $-25.1M | $17.5M | $367.0M | $364.2M | |
| EPS (Diluted) | -7.30 | -6.20 | -4.40 | -4.00 | -1.80 | -1.10 | -3.44 | -1.44 | 0.99 | 19.48 | 18.72 | |
| EBITDA | $-63.0M | $-77.5M | $-69.9M | $-65.9M | $-27.7M | $-11.3M | $-53.9M | $-17.0M | $28.5M | $131.6M | $131.3M | |
| Shares Out. (M) | 9.44 | 12.63 | 16.05 | 16.74 | 16.88 | 17.05 | 17.05 | 17.40 | 17.69 | 18.84 | 19.69 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $17.6M | $38.3M | $76.3M | $22.5M | $30.4M | $18.9M | $24.5M | $32.8M | $56.7M | $40.6M | $24.4M | |
| Marketable Securities | $57.1M | $77.5M | $52.2M | $75.6M | $27.0M | $106.1M | $33.7M | $24.1M | $20.6M | $114.4M | $122.3M | |
| Total Current Assets | $76.2M | $117.4M | $137.0M | $119.0M | $89.0M | $154.5M | $115.9M | $99.3M | $135.1M | $240.2M | $234.0M | |
| Total Assets | $78.1M | $119.1M | $139.1M | $147.6M | $110.4M | $167.3M | $134.3M | $117.2M | $164.0M | $513.6M | $504.6M | |
| Total Current Liabilities | $22.6M | $18.3M | $27.7M | $58.2M | $40.8M | $63.6M | $65.2M | $53.3M | $63.3M | $99.2M | $89.5M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $9.8M | $19.8M | $19.9M | $39.4M | $52.4M | $52.4M | $22.5M | $15.0M | |
| Total Liabilities | $23.1M | $18.5M | $29.2M | $93.8M | $76.4M | $137.0M | $147.9M | $145.9M | $160.7M | $122.1M | $104.7M | |
| Stockholders' Equity | $55.0M | $100.6M | $109.9M | $53.8M | $34.0M | $30.4M | $-13.6M | $-28.6M | $3.3M | $391.5M | $399.9M | |
| Retained Earnings | $-1.06B | $-1.14B | $-1.21B | $-1.28B | $-1.31B | $-1.32B | $-1.38B | $-1.41B | $-1.39B | $-1.02B | $-1.01B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-75.9M | $-77.6M | $-58.8M | $-41.5M | $-52.2M | $5.9M | $-73.8M | $-5.7M | $31.5M | $75.7M | $79.3M | |
| Capital Expenditure | $-804.0K | $-164.0K | $-1.1M | $-1.5M | $-1.3M | $-627.0K | $-450.0K | $-15.0M | $-396.0K | $0.00 | $0.00 | |
| Free Cash Flow | $-76.7M | $-77.7M | $-59.9M | $-43.0M | $-53.4M | $5.3M | $-74.2M | $-20.7M | $31.1M | $75.7M | $79.3M | |
| Investing Cash Flow | $24.9M | $-19.5M | $25.0M | $-23.7M | $47.5M | $-80.0M | $72.8M | $-4.3M | $4.1M | $-92.4M | $-89.8M | |
| Financing Cash Flow | $25.2M | $117.7M | $71.9M | $11.4M | $12.6M | $62.7M | $6.5M | $18.4M | $-11.6M | $601.0K | $-10.8M | |
| Issuance of Stock | $23.6M | $114.2M | $67.2M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-10.0M | $0.00 | $-3.7M | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $9.8M | $10.0M | $0.00 | $19.5M | $19.9M | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-7.5M | $-7.5M | |
| Stock Based Comp. | $7.3M | $6.0M | $7.7M | $9.1M | $7.3M | $9.5M | $12.4M | $8.8M | $12.4M | $12.7M | $12.8M | |
| Net Change in Cash | $-25.8M | $20.7M | $38.0M | $-53.8M | $7.9M | $-11.5M | $5.6M | $8.3M | $24.0M | $-16.1M | $-21.3M |
Dilution Tracker
Shares Outstanding
20M
5-Year Share Growth
+15.5%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 9.44 | 12.63 | 16.05 | 16.74 | 16.88 | 17.05 | 17.05 | 17.40 | 17.69 | 18.84 | 19.69 | |
| YoY Change % | — | 33.8% | 27.1% | 4.3% | 0.8% | 1.0% | 0.0% | 2.1% | 1.6% | 6.5% | 4.5% | |
| Stock Issuance | $23.6M | $114.2M | $67.2M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-10.0M | $0.00 | $-3.7M | |
| Stock Based Comp. | $7.3M | $6.0M | $7.7M | $9.1M | $7.3M | $9.5M | $12.4M | $8.8M | $12.4M | $12.7M | $12.8M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 99.4% | 98.5% | 99.2% | 99.3% | 98.5% | 93.9% | 89.6% | 93.3% | 93.4% | |
| Operating Margin % | -313.8% | -1775.6% | -163.3% | -116.5% | -26.7% | -6.0% | -45.1% | -17.5% | 13.5% | 42.6% | 41.6% | |
| Net Margin % | -339.6% | -1739.3% | -158.3% | -112.8% | -27.4% | -12.0% | -48.7% | -21.5% | 9.8% | 124.7% | 121.5% | |
| EBITDA Margin % | -309.2% | -1729.0% | -157.0% | -111.1% | -25.5% | -7.6% | -44.8% | -14.5% | 15.9% | 44.7% | 43.8% | |
| FCF Margin % | -376.3% | -1733.3% | -134.7% | -72.5% | -49.2% | 3.5% | -61.7% | -17.7% | 17.3% | 25.7% | 26.4% | |
| ROE % | -94.6% | -100.2% | -67.0% | -81.7% | -67.7% | -55.6% | -699.0% | 0.0% | Negative Equity | 185.9% | 180.4% | |
| ROA % | -66.0% | -79.1% | -54.6% | -46.7% | -23.1% | -12.9% | -38.8% | -20.0% | 12.4% | 108.3% | 110.8% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)2.27
Historical1.36 / 7.13 / 125.50
Industry Med.27.41
P/S2.72
Historical0.94 / 3.80 / 563.89
Industry Med.9.51
P/B1.97
Historical1.20 / 5.45 / 123.98
Industry Med.2.93
EV/EBITDA5.23
Historical-213.47 / -4.54 / 35.58
Industry Med.13.14
EV/Revenue2.29
Historical0.54 / 3.11 / 558.85
Industry Med.8.71
P/FCF10.23
Historical5.13 / 10.78 / 96.64
Industry Med.27.54
Intrinsic Value Models
DCF (FCF Based)
$12.26
Tangible Book
$20.33
Net Current Assets
$7.000
Graham Number
$92.54
Median P/S Value
$63.47
Net-Net Working Capital
$4.61
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | 16.99 | 2.20 | 2.27 | |
| PS Ratio | 11.02 | 109.30 | 8.29 | 6.04 | 5.44 | 3.03 | 2.13 | 2.16 | 1.66 | 2.74 | 2.72 | |
| PB Ratio | 4.29 | 5.66 | 3.50 | 6.68 | 17.41 | 14.97 | 0.00 | 0.00 | 90.43 | 2.00 | 1.97 | |
| EV/EBITDA | -2.56 | -5.85 | -3.66 | -4.52 | -20.75 | -31.93 | -4.52 | -15.14 | 9.84 | 5.19 | 5.23 | |
| EV/Revenue | 7.92 | 101.22 | 5.75 | 5.02 | 5.29 | 2.41 | 2.02 | 2.20 | 1.56 | 2.32 | 2.29 |
Analyst Estimates & Quality
Altman Z-Score
3.48
Safe
Piotroski F-Score
7
Strong
Beneish M-Score
1.60
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $284.1M | $319.6M | $362.2M |
| Net Income | $72.0M | $77.2M | $86.4M |
| EPS | 3.57 | 3.35 | 3.73 |
| Book Value per Share | 0.00 | 0.00 | 0.00 |
| Operating Cash Flow per Share | 0.00 | 0.00 | 0.00 |
| Operating CF | $0.00M | $0.00M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Single Segment | $294.3M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $294.3M |