Quarterly report [Sections 13 or 15(d)]

CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY

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CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2024   17,710,216      
Beginning balance at Dec. 31, 2024 $ 3,288 $ 18 $ 1,393,325 $ 10 $ (1,390,065)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 11,446       11,446
Net change in unrealized (loss) gain on short-term investments (12)     (12)  
Issuance of common stock upon exercise of options (in shares)   30,892      
Issuance of common stock upon exercise of options, net of shares withheld 484   484    
Issuance of common stock upon vesting of restricted stock units (RSUs) (in shares)   125,783      
Stock-based compensation expense 3,361   3,361    
Ending balance (in shares) at Mar. 31, 2025   17,866,891      
Ending balance at Mar. 31, 2025 18,567 $ 18 1,397,170 (2) (1,378,619)
Beginning balance (in shares) at Dec. 31, 2024   17,710,216      
Beginning balance at Dec. 31, 2024 3,288 $ 18 1,393,325 10 (1,390,065)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 71,059        
Net change in unrealized (loss) gain on short-term investments (4)        
Ending balance (in shares) at Jun. 30, 2025   17,937,094      
Ending balance at Jun. 30, 2025 81,934 $ 18 1,400,916 6 (1,319,006)
Beginning balance (in shares) at Mar. 31, 2025   17,866,891      
Beginning balance at Mar. 31, 2025 18,567 $ 18 1,397,170 (2) (1,378,619)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 59,613       59,613
Net change in unrealized (loss) gain on short-term investments 8     8  
Issuance of common stock upon exercise of options (in shares)   52,295      
Issuance of common stock upon exercise of options, net of shares withheld 418   418    
Issuance of common stock upon vesting of restricted stock units (RSUs) (in shares)   17,908      
Stock-based compensation expense 3,328   3,328    
Ending balance (in shares) at Jun. 30, 2025   17,937,094      
Ending balance at Jun. 30, 2025 81,934 $ 18 1,400,916 6 (1,319,006)
Beginning balance (in shares) at Dec. 31, 2025   18,310,934      
Beginning balance at Dec. 31, 2025 391,480 [1] $ 18 1,414,322 181 (1,023,041)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 8,654       8,654
Net change in unrealized (loss) gain on short-term investments (309)     (309)  
Issuance of common stock upon exercise of options (in shares)   50,157      
Issuance of common stock upon exercise of options, net of shares withheld 321   321    
Issuance of common stock upon vesting of restricted stock units (RSUs) (in shares)   226,221      
Repurchases of common stock in connection with employee tax withholding on RSU vesting (in shares)   (105,728)      
Repurchases of common stock in connection with employee tax withholding on RSU vesting (3,740)   (3,740)    
Stock-based compensation expense 3,491   3,491    
Ending balance (in shares) at Mar. 31, 2026   18,481,584      
Ending balance at Mar. 31, 2026 399,897 $ 18 1,414,394 (128) (1,014,387)
Beginning balance (in shares) at Dec. 31, 2025   18,310,934      
Beginning balance at Dec. 31, 2025 391,480 [1] $ 18 1,414,322 181 (1,023,041)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 25,944        
Net change in unrealized (loss) gain on short-term investments $ (329)        
Repurchases of common stock in connection with employee tax withholding on RSU vesting (in shares) (122,832)        
Repurchases of common stock in connection with employee tax withholding on RSU vesting $ (4,300)        
Ending balance (in shares) at Jun. 30, 2026   18,653,941      
Ending balance at Jun. 30, 2026 425,422 $ 18 1,422,649 (148) (997,097)
Beginning balance (in shares) at Mar. 31, 2026   18,481,584      
Beginning balance at Mar. 31, 2026 399,897 $ 18 1,414,394 (128) (1,014,387)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 17,290       17,290
Net change in unrealized (loss) gain on short-term investments (20)     (20)  
Issuance of common stock upon exercise of options (in shares)   135,632      
Issuance of common stock upon exercise of options, net of shares withheld 1,864   1,864    
Issuance of common stock upon vesting of restricted stock units (RSUs) (in shares)   53,829      
Repurchases of common stock in connection with employee tax withholding on RSU vesting (in shares)   (17,104)      
Repurchases of common stock in connection with employee tax withholding on RSU vesting (511)   (511)    
Stock-based compensation expense 6,902   6,902    
Ending balance (in shares) at Jun. 30, 2026   18,653,941      
Ending balance at Jun. 30, 2026 $ 425,422 $ 18 $ 1,422,649 $ (148) $ (997,097)
[1] The balance sheet at December 31, 2025 has been derived from the audited financial statements included in Rigel’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (SEC) on March 3, 2026.