Rigel Pharmaceuticals Inc. Q1 Loss decreases, but misses estimates

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

The company's earnings totaled -$8.25 million, or -$0.05 per share. This compares with -$13.54 million, or -$0.08 per share, in last year's first quarter.

Analysts on average had expected the company to earn -$0.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.3% to $29.53 million from $26.07 million last year.

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

-Earnings (Q1): -$8.25 Mln. vs. -$13.54 Mln. last year. -EPS (Q1): -$0.05 vs. -$0.08 last year. -Revenue (Q1): $29.53 Mln vs. $26.07 Mln last year.