SCHEDULE: Soleus Capital Discloses 9.9% Stake in Rigel Pharmaceuticals

Soleus Capital Master Fund, L.P. and affiliated entities have reported beneficial ownership of 9.9% of Rigel Pharmaceuticals Inc. common stock as of June 30, 2026.

Summary

• Soleus Capital Master Fund, L.P., along with related entities, has filed a Schedule 13G indicating beneficial ownership of 1,843,504 shares of Rigel Pharmaceuticals Inc. common stock.
• This holding represents 9.9% of the outstanding common stock as of July 30, 2026.
• The filing details the ownership structure, with Soleus Capital Master Fund, L.P. holding the shares directly, and various Soleus entities and Guy Levy disclaiming beneficial ownership beyond their reporting obligations.
• The reporting date for the outstanding shares is June 30, 2026, with the filing date being August 13, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it primarily reports a change in beneficial ownership without disclosing new strategic information or financial performance.

Positives

• Significant investment by a known investment firm, potentially indicating confidence in Rigel Pharmaceuticals' long-term prospects.
• The filing clearly delineates ownership and disclaims beneficial ownership for certain related parties, providing transparency.

Negatives

• The filing does not provide any new strategic information, financial performance updates, or forward-looking guidance from Rigel Pharmaceuticals.
• The nature of the investment (e.g., activist intent, long-term holding) is not specified.

Risks

• Potential for increased market volatility if Soleus Capital's intentions are perceived as activist.
• The filing does not offer insights into Rigel Pharmaceuticals' operational or financial risks.

Future Outlook

This filing is a Schedule 13G and does not contain forward-looking statements or guidance from Rigel Pharmaceuticals.

Management Comments

• Each of SCG, Soleus Capital, LLC, SCM, Soleus GP and Mr. Levy disclaims beneficial ownership of these shares held by Master Fund other than for the purpose of determining their obligations under Section 13(d) of the Exchange Act, as amended (the "Exchange Act"), and the filing of this report shall not be deemed an admission that any of the foregoing persons is the beneficial owner of such shares for any other purpose.

Industry Context

StockSavvy.ai notes that Schedule 13G filings typically indicate passive investment stakes. However, the size of this stake (9.9%) could be significant enough to warrant attention from other investors regarding potential future actions by Soleus Capital.

Stakeholder Impact

• Shareholders: May observe increased trading activity or speculation regarding Soleus Capital's intentions.
• Management: May need to engage with Soleus Capital regarding their investment thesis.

Next Steps

• Monitor future filings from Soleus Capital and Rigel Pharmaceuticals for any changes in ownership or strategic disclosures.

Key Dates

Keywords

Rigel Pharmaceuticals, Schedule 13G, Beneficial Ownership, Soleus Capital, Investment, Common Stock, Cayman Islands, Delaware