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Rigel Announces Third Quarter 2011 Financial Results
Date:11/1/2011

ertaking 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 September 30,Nine Months Ended September 30,2011201020112010(unaudited)Revenues:Contract revenues

$
4,355

$
72,282$
4,750

$
25,000Operating expenses:Research and development (see Note A)

17,316

16,39449,531

50,634General and administrative (see Note A)

5,080

5,53015,677

19,380Total operating expenses

22,396

21,92465,208

70,014Income (loss) from operations

(18,041)

50,358(60,458)

54,986Interest income, net

110

75272

143Net income (loss)

$
(17,931)

$
50,433$
(60,186)

$
55,129Net income (loss) per share:Basic

$
(0.25)

$
.97$
(0.99)

$
.06Diluted

$
(0.25)

$
.96$
(0.99)

$
.05Weighted average shares used in computingnet income (loss) per share:Basic

71,226

52,12760,660

52,022Diluted

71,226

52,76960,660

52,536Note AStock-based compensation expense included in:Research and development

$
2,236

$
2,017$
7,086

$
7,017General and administrative

854

1,7503,041

5,618$
3,090

$
3,767$
,127

$
2,635SUMMARY BALANCE SHEET DATA(in thousands)September 30,December 31,20112010(1)(unaudited)Cash, cash equivalents and availablefor sale securities

$
265,682

$
77,295Total assets

275,865

186,695Stockholders' equity

257,964

166,
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SOURCE Rigel Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

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