Rigel Announces Proposed Public Offering Of Common Stock

Rigel Pharmaceuticals (NASDAQ: RIGL), today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares to be sold in the offering are to be sold by Rigel, with the proceeds to be used to fund research and development activities and for general corporate purposes.Jefferies & Company, Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the proposed offering, with Citigroup acting as lead manager, and BMO Capital Markets, Piper Jaffray & Co. and Wells Fargo Securities, LLC acting as co-managers. A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the "SEC") and is effective. A preliminary prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's web site at www.sec.gov. When available, copies of the preliminary prospectus supplement may also be obtained from the offices of Jefferies & Company, Inc., Equity Syndicate Prospectus Department, at 520 Madison Avenue, New York, New York, 10022, or by calling (877) 547-6340, or by emailing Prospectus_Department@Jefferies.com, and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling (866) 803-9204.