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Rigel Announces Fourth Quarter and Year End 2010 Financial Results
Date:3/1/2011

s of historical fact may be deemed to be forward-looking statements. Words such as "may," "intend," "believe," "expect," "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, as well as other risks detailed from time to time in Rigel's SEC reports, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2010. 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.comMedia Contact: Susan C. Rogers, Alchemy Consulting, Inc.
Phone: 650.430.3777
Email: susan@alchemyemail.comSTATEMENTS OF OPERATIONS(in thousands, except per share amounts)Three Months Ended December 31,Twelve Months Ended December 31,2010200920102009(unaudited)Revenues:Contract revenues

$
-

$
750$ 125,000

$
750Operating expenses:Research and development (see Note A)

13,758

20,17564,392

90,743General and administrative (see Note A)

5,911

5,67725,291

20,903Restructuring charges (see Note A)

-

--

1,141Total operating expenses

19,669

25,85289,683

112,787Income (loss) from operations

(19,66
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SOURCE Rigel Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
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