<SEC-DOCUMENT>0001179110-21-000986.txt : 20210129
<SEC-HEADER>0001179110-21-000986.hdr.sgml : 20210129
<ACCEPTANCE-DATETIME>20210129191002
ACCESSION NUMBER:		0001179110-21-000986
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210127
FILED AS OF DATE:		20210129
DATE AS OF CHANGE:		20210129

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Dummer Wolfgang
		CENTRAL INDEX KEY:			0001749991

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29889
		FILM NUMBER:		21573549

	MAIL ADDRESS:	
		STREET 1:		5491 OPTICAL CT.
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95138

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RIGEL PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0001034842
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				943248524
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1180 VETERANS BOULEVARD
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080

	MAIL ADDRESS:	
		STREET 1:		1180 VETERANS BOULEVARD
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-01-27</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001034842</issuerCik>
        <issuerName>RIGEL PHARMACEUTICALS INC</issuerName>
        <issuerTradingSymbol>RIGL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001749991</rptOwnerCik>
            <rptOwnerName>Dummer Wolfgang</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O RIGEL PHARMACEUTICALS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1180 VETERANS BLVD.</rptOwnerStreet2>
            <rptOwnerCity>SOUTH SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94080</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP &amp; CMO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option(right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.54</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-01-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>125000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2031-01-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>125000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>125000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.38</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-01-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>37500</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2030-08-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>37500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>37500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The shares of common stock subject to the option vest in equal monthly installments over four (4) years from the vesting commencement date of January 1, 2021, subject to the reporting person's continuous service to the issuer through each such period.</footnote>
        <footnote id="F2">The reporting person was granted a performance-based option to purchase 37,500 shares of common stock on August 25, 2020. Thus, the exercise price of this option is $2.38 (the closing price of the issuer's common stock on Nasdaq the date of grant). In light of the performance-based vesting condition of this grant, the grant was not reportable under Section 16 until the performance metric was satisfied. On January 27, 2021, it was determined that the performance metric had been met.</footnote>
        <footnote id="F3">The shares of common stock subject to the option vest in equal monthly installments over twenty-four (24) months from the vesting commencement date of December 18, 2020, subject to the reporting person's continuous service to the issuer through each such period.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Dolly Vance (Attorney-in-Fact)</signatureName>
        <signatureDate>2021-01-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
