Rigel Pharmaceuticals Inc. Q1 Loss decreases, beats estimates

(RTTNews) - Rigel Pharmaceuticals Inc. (RIGL) revealed Loss for first quarter that decreased from the same period last year and beat the Street estimates.

The company's bottom line totaled -$13.54 million, or -$0.08 per share. This compares with -$27.45 million, or -$0.16 per share, in last year's first quarter.

Analysts on average had expected the company to earn -$0.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 55.7% to $26.07 million from $16.74 million last year.

Rigel Pharmaceuticals Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$13.54 Mln. vs. -$27.45 Mln. last year. -EPS (Q1): -$0.08 vs. -$0.16 last year. -Analyst Estimates: -$0.10 -Revenue (Q1): $26.07 Mln vs. $16.74 Mln last year.