Rigel Pharmaceuticals Inc. Q2 Loss decreases, beats estimates

(RTTNews) - Rigel Pharmaceuticals Inc. (RIGL) announced Loss for second quarter that decreased from last year and beat the Street estimates.

The company's bottom line came in at -$6.6 million, or -$0.04 per share. This compares with -$13.5 million, or -$0.08 per share, in last year's second quarter.

Analysts on average had expected the company to earn -$0.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.8% to $26.9 million from $29.82 million last year.

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

-Earnings (Q2): -$6.6 Mln. vs. -$13.5 Mln. last year. -EPS (Q2): -$0.04 vs. -$0.08 last year. -Analyst Estimates: -$0.08 -Revenue (Q2): $26.9 Mln vs. $29.82 Mln last year.