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Rigel Announces Third Quarter 2007 Financial Results
Date:11/6/2007

tements. There are a number of important factors that could cause Rigel's results to differ materially from those indicated by these forward-looking statements, including risks associated with the timing and success of clinical trials and the commercialization of product candidates, as well as other risks detailed from time to time in Rigel's reports filed with the Securities and Exchange Commission, including its Form 10-Q for the quarter ended June 30, 2007. Rigel does not undertake any obligation to update forward-looking statements.

Contact: Ryan D. Maynard

Phone: 650.624.1284

Email: invrel@rigel.com

Media Contact: Susan C. Rogers, Alchemy Consulting, Inc.

Phone: 650.430.3777

Email: susan@alchemyemail.com

STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended Nine Months Ended

September 30, September 30,

2007 2006 2007 2006

(unaudited) (unaudited)

Revenues:

Contract revenues $- $6,127 $4,600 $30,345

Operating expenses:

Research and development

(see Note A) 15,372 14,050 48,404 41,966

General and administrative

(see Note A) 5,054 4,804 15,466 14,532

Total operating expenses 20,426 18,854 63,870 56,498

Loss from operations (20,426) (12,727) (59,270) (26,153)

Interest income, net 1,482 1,345 4,000 3,972

Net loss $(18,944) $(11,382) $(55,270) $(22,181)

Net loss per share, basic and

diluted
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SOURCE Rigel Pharmaceuticals, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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