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GRFS - Rigel Reports An Earnings Beat But The Market Shrugs It Off
Grifols S.A.
Rigel Pharmaceuticals (RIGL) recently reported their Q1 earnings and hosted a conference call to update investors on the TAVALISSE launch, as well as pipeline progress and the company's financials. Rigel reported $8.1M in net product sales from TAVALISSE, which was a 10% increase quarter over quarter. On top of the TAVALISSE sales, Rigel received $4.6M of the $30M upfront payment from the company's European partnership deal with Grifols (GRFS) to add to the bankroll. However, Rigel did run up a bill in Q1, with expenses summing up to about $31M, which was a