Rigel: 2Q Earnings Snapshot
SOUTH SAN FRANCISCO, Calif. (AP) _ Rigel Pharmaceuticals Inc. (RIGL) on Tuesday reported a loss of $20.6 million in its second quarter.
On a per-share basis, the South San Francisco, California-based company said it had a loss of 12 cents.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.
The drug developer posted revenue of $10.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $9.2 million.
In the final minutes of trading on Tuesday, the company’s shares hit $2.17. A year ago, they were trading at $2.75.