Can Tavalisse Drive Rigel's Growth Through the Rest of 2025?

Rigel Pharmaceuticals’ RIGL first product, Tavalisse (fostamatinib disodium hexahydrate), has been driving the majority of the company’s revenues. The drug remains a key top-line driver for the company.

Tavalisse, an oral spleen tyrosine kinase (SYK) inhibitor, is approved by the FDA for the treatment of adult patients with chronic immune thrombocytopenia (ITP) who have had an insufficient response to a previous treatment. The drug is also approved in Europe, the United Kingdom, Japan and some other countries.

In the first half of 2025, Tavalisse generated sales of $68.5 million, up around 44% year over year. Per management, sales of the drug are being driven by continued strong new patient demand and the momentum is expected to continue in the second half of 2025.

Looking ahead, sales are expected to grow steadily as Rigel expands its commercial footprint and strengthens its marketing infrastructure, driving continued momentum for Tavalisse.

Besides Tavalisse, Rigel is also making good progress with its other marketed products, Rezlidhia (olutasidenib) and Gavreto (pralsetinib), which are approved for treating certain cancer indications. Sales of both drugs increased during the first half of 2025.

Rigel has an exclusive license agreement with Dr. Reddy's RDY to develop and commercialize Rezlidhia in all potential indications throughout Dr. Reddy's territory, which includes Latin America, South Africa, India, Southeast Asia, North Africa, Australia and New Zealand, among others.

Rigel is entitled to receive potential regulatory and commercial milestone payments from RDY.

RIGL Ups Revenue Outlook Amid Rising Competition for Tavalisse

The company increased its total revenue guidance on the second-quarter earnings call last month. Rigel now projects total revenues of $270-$280 million for 2025, compared with the previous expectation of $200-$210 million.

Net product sales are now expected to be in the range of $210-$220 million versus the previous guidance of $185 to $192 million. Tavalisse is expected to remain a meaningful contributor, while competition increases in the ITP market.

The FDA recently approved Sanofi’s SNY Wayrilz (rilzabrutinib), a novel BTK inhibitor, for the treatment of persistent or chronic ITP in adult patients who have had an insufficient response to a previous treatment.

Per SNY, Wayrilz is now the first BTK inhibitor to be approved by the FDA for treating ITP in the United States. Wayrilz is currently under review in the EU and China as a treatment for ITP.

Though Tavalisse and Wayrilz are built on different mechanisms, a successful launch of the latter is likely to pose a significant threat to Tavalisse, given the resources available for a large drugmaker like Sanofi.

RIGL’s Price Performance, Valuation and Estimates

Year to date, shares of Rigel have rallied 116.9% compared with the industry’s rise of 12.9%. The stock has also outperformed the sector and the S&P 500 during the same time frame, as seen in the chart below.

From a valuation standpoint, Rigel is trading at a discount to the industry. Going by the price-to-sales (P/S) ratio, the company’s shares currently trade at 2.47, lower than 2.48 for the industry. The stock is trading above its five-year mean of 2.22.

The Zacks Consensus Estimate for 2025 earnings per share (EPS) has increased from $2.25 to $5.10 over the past 60 days. During the same time frame, EPS estimates for 2026 have moved up from $1.60 to $3.07.

RIGL’s Zacks Rank

Rigel currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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