Rigel Pharmaceuticals (RIGL) H.C. Wainwright 28th Annual Global Investment Conference summary

Strategic growth and business development

• Four-part growth strategy: commercial expansion, in-licensing, pipeline advancement, and financial discipline.

• Transformation from one commercial product in 2020 to three by 2025, with four expected in the 2030s, driven by in-licensing and M&A.

• VEPPANU acquisition and immediate integration into the commercial portfolio, now commercially available in the U.S. and expected to become the largest revenue producer.

• Expansion of commercial access globally, including new launches and regulatory approvals in Mexico and Brazil.

• Global collaborations generated $11.7 million in Q2, expanding product reach internationally.

Product portfolio and commercialization

• VEPPANU (vepdegestrant) is the first FDA-approved PROTAC for ER+/HER2-, ESR1-mutated advanced or metastatic breast cancer, targeting a $1B+ U.S. market with 20,000 eligible patients in second/third line.

• Phase III VERITAC-2 trial showed median PFS improvement from 2.1 to 5 months versus fulvestrant, with improved objective response and clinical benefit rates.

• Favorable tolerability profile with low discontinuation and dose reduction rates.

• Commercial launch included rapid deployment of sales force, patient services, and omnichannel campaigns.

• TAVALISSE, GAVRETO, and REZLIDHIA continue to expand in global markets, with new collaborations and regulatory submissions.

Pipeline advancement and clinical development

• R289, an IRAK1/4 inhibitor, is in Phase 1b for lower-risk MDS, with Fast Track and Orphan Drug designations.

• Dose expansion phase ongoing; updated results expected by year-end 2026, with exploratory cohorts and plans for a potential registrational study.

• Early data show 33% of heavily pretreated patients achieved transfusion independence, with promising safety and efficacy.

• Additional studies and collaborations ongoing in hematology and oncology, including AML, glioma, and combination studies for vepdegestrant and olutasidenib.

• FDA discussions planned for registrational pathway based on phase I-B results.