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Rigel Announces Fourth Quarter and Year End 2007 Financial Results
Date:2/12/2008

$3,128 $12,600 $33,473

Operating expenses:

Research and development

(see Note A) 21,960 15,002 70,364 56,968

General and administrative

(see Note A) 6,297 5,020 21,763 19,552

Total operating expenses 28,257 20,022 92,127 76,520

Loss from operations (20,257) (16,894) (79,527) (43,047)

Interest income, net 1,255 1,438 5,255 5,410

Net loss $(19,002) $(15,456) $(74,272) $(37,637)

Net loss per common share, basic

and diluted $(0.61) $(0.62) $(2.57) $(1.51)

Weighted average shares used in

computing net loss per common

share, basic and diluted 31,084 25,093 28,936 24,936

Note A

Stock-based compensation expense

included in:

Research and development $1,307 $1,317 $5,519 $6,515

General and adminstrative 1,259 1,125 6,168 6,064

$2,566 $2,442 $11,687 $12,579

SUMMARY BALANCE SHEET DATA

(in thousands)

December 31, December 31,

2007 2006(1)

(unaudited)

Cash, cash equivalents and

available for sale securities $108,296 $104,471

Total assets 115,789 113,240

Stockholder's equity 82,182 87,229

(1) Derived from audited financial statements


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SOURCE Rigel Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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