Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Q4 2023 Earnings Call Transcript

Kalpit Patel: Okay, got it. And one last question, and apologies, if you already mentioned this earlier, but how much of an SG&A change should we expect? I know you said that there’s some overlap in the community centers where you can maybe cross-sell your products, but what about any increases in reps for academic centers?

Raul Rodriguez: Yeah, so we’re looking at that still. And as Dave said, on the community side, we’re already seeing most of these doctors already. On the institutional side, we’re still evaluating that. The institutional side, there’s different individuals who treat lung cancer versus AML, for example. So that’s something under evaluation. And there may be some ads just throughout the organization now, with three products relative to one, not that long ago. So there will be some increases in some headcounts across the board a bit, but not very many, frankly. We expect it to be minor in terms of those additions.

Dean Schorno: And all-in, we expect the incremental GAVRETO costs for SG&A along with clinical development of the drug interaction study that were all referred to be less than $10 million for 2024, Kalpit.

Kalpit Patel: Okay, perfect. Thank you very much for taking the questions.

Raul Rodriguez: Thank you, Kalpit.

Operator: Thank you. There are no further questions at this time. I’d like to turn the floor back over to Mr. Raul Rodriguez for closing comments.

Raul Rodriguez: Thank you for your questions and your interest in Rigel this past year ‘23 and the start of ‘24. It’s been an exciting year and an exciting start to 2024. We look forward to continue to keep you updated on our progress. I think it’s going to be our best year yet and look forward to sharing them with you. Take care.

Operator: This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.