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Rigel Announces Fourth Quarter and Year End 2011 Financial Results
Date:3/6/2012

pment 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 Quarterly Report on Form 10-Q for the quarter ended September 30, 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.comSTATEMENTS OF OPERATIONS(in thousands, except per share amounts)Three Months Ended December 31,Twelve Months Ended December 31,2011201020112010(unaudited)Revenues:Contract revenues

$
-

$
-$
4,750

$ 125,000Operating expenses:Research and development (see Note A)

19,819

13,75869,350

64,392General and administrative (see Note A)

6,091

5,91121,768

25,291Total operating expenses

25,910

19,66991,118

89,683Income (loss) from operations

(25,910)

(19,669)(86,368)

35,317Other income

-

2,361-

2,361Interest income, net

123

69395

212Net income (loss)

$
(25,787)

$
(17,239)$ (85,973)

$   37,890Net income (loss) per share:Basic

$
(0.36)

$
(0.33)$
(1.36)

$
.73Diluted

$
(0.36)

$
(0.33)$
(1.36)

$
.72Weighted-average shares used in computing net income (loss) per share:Basic

71,249

52,15263,329

52,055Diluted

71,249

52,15263,329

52,573Note AStock-based compensation ex
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SOURCE Rigel Pharmaceuticals, Inc.
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