v3.25.4

BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 40,580	$ 56,746
Short-term investments	114,375	20,575
Accounts receivable, net	51,763	41,615
Inventories	11,506	6,002
Prepaid and other current assets	21,942	10,165
Total current assets	240,166	135,103
Intangible assets, net	24,748	27,100
Deferred income tax asset	245,852	0
Operating lease right-of-use assets	920	246
Other assets	1,908	1,527
Total assets	513,594	163,976
Current liabilities:
Accounts payable	7,191	3,339
Accrued compensation	11,914	10,139
Accrued research and development	5,524	4,073
Acquisition related liabilities	5,000	0
Revenue reserves and refund liability	27,716	26,440
Loans payable, net, current portion	29,812	7,272
Other current liabilities	11,466	11,751
Lease liabilities, current portion	614	285
Total current liabilities	99,237	63,299
Acquisition-related liabilities	0	5,000
Long-term portion of lease liabilities	395	0
Long-term portion of loans payable, net	22,482	52,408
Other long-term liabilities	0	39,981
Total liabilities	122,114	160,688
Commitments
Stockholders’ equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding as of December 31, 2025 and 2024	0	0
Common stock, $0.001 par value; 400,000,000 shares authorized; 18,310,934 and 17,710,216 shares issued and outstanding as of December 31, 2025 and 2024, respectively	18	18
Additional paid-in capital	1,414,322	1,393,325
Accumulated other comprehensive income	181	10
Accumulated deficit	(1,023,041)	(1,390,065)
Total stockholders’ equity	391,480	3,288
Total liabilities and stockholders’ equity	$ 513,594	$ 163,976

Represents the carrying value as of the balance sheet date of research and development costs that are incurred but not billed to the entity as of the end of the period. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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RIGEL PHARMACEUTICALS INC 10-K