SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Rigel Pharmaceuticals Inc. (RIGL) on Tuesday reported second-quarter net income of $59.6 million.
On a per-share basis, the South San Francisco, California-based company said it had net income of $3.28.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.
The drug developer posted revenue of $101.7 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $78.8 million.
Rigel expects full-year revenue in the range of $270 million to $280 million.
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