Date:5/1/2012

"potential," and similar expressions are intended to identify these forward-looking statements. These forward-looking statements are based upon Rigel's current expectations and involve risks and uncertainties. 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, without limitation, risks associated with Rigel's need for additional capital, the timing and success of preclinical studies and clinical trials and the potential problems that may arise in the research and development and approval process, market competition, risks associated with Rigel's partnerships, including risks that if conflicts arise between Rigel's and its partners, risks that the clinical development or commercialization of the affected product candidates or research programs could be delayed or terminated, as well as other risks detailed from time to time in Rigel's reports with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2011. Rigel does not undertake any obligation to update forward-looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein.

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 March 31,20122011(unaudited)Revenues:Contract revenues

$
750

$
-Operating expenses:Research and development (see Note A)

17,904

15,106General and administrative (see Note A)

6,156

5,754Total operating expenses

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SOURCE Rigel Pharmaceuticals, Inc. Copyright©2010 PR Newswire. All rights reserved

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