Preliminary Financial Update
While Rigel is still in the process of determining final results for the fourth quarter of 2019, the company expects to report net product sales of approximately $13.8 million, compared to $7.3 million in the same period of 2018, an increase of 90%.
Contract revenues from collaborations for the quarter ended December 31, 2019, are expected to be approximately $1.6 million, which consists of a $1.5 million fee earned pursuant to an amendment in October 2019 of the license and collaboration agreement with Aclaris dated August 27, 2015, as well as deferred revenue from its collaboration with Grifols related to the performance of certain research and development services.
For the fourth quarter 2019, Rigel expects to report total revenues of approximately $15.4 million.
The company expects to report cash, cash equivalents and short-term investments as of December 31, 2019 of approximately $98.0 million, compared to $128.5 million as of December 31, 2018.
The above information is preliminary, has not been audited and is subject to change upon completion of the audit of the company's financial statements as of and for the year ended December 31, 2019.