RIGEL PHARMACEUTICALS INC 8-K

What Happened
Rigel Pharmaceuticals announced it received written notice from Eli Lilly on April 16, 2026 that Lilly elected to terminate the License and Collaboration Agreement dated February 18, 2021. Lilly’s termination will become effective June 15, 2026. The agreement had granted Lilly an exclusive worldwide license to develop and commercialize ocadusertib (R552), a RIPK1 inhibitor, for non‑CNS diseases and covered additional RIPK1 inhibitors for CNS diseases, along with collaboration rights and potential milestone and royalty payments to Rigel. Following termination, Rigel expects to regain full rights to the licensed compounds and related programs and is evaluating the impact.

Key Details

• Notice received: April 16, 2026; termination effective: June 15, 2026.
• Original agreement date: February 18, 2021; covered ocadusertib (R552) and other RIPK1 programs.
• Rigel expects to regain full rights to the licensed compounds, subject to any transition provisions.
• Rigel stated it does not expect to receive future milestones or royalties under the Agreement (the CNS program had already been terminated in Nov 2025).

Why It Matters
This filing ends Lilly’s development/commercialization rights under the 2021 collaboration, removing a potential source of future milestone and royalty revenue for Rigel and returning program control to Rigel. For investors, key follow-ups are Rigel’s plans for the ocadusertib and RIPK1 programs (internal development, new partnerships, or out‑licensing) and any disclosures on how the termination affects financial projections or timelines. The company is still evaluating the full impact.