Rigel Pharmaceuticals, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2020

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Summary of customer allowances for prompt payment discounts

The following table summarizes the activity of our customer allowances for prompt payment discounts for the years ended December 31, 2020, 2019 and 2018 (in thousands):


Balance at January 1, 2018	$	—
Provision for prompt payment discount during the year		189
Reduction in prompt payment discount during the year		(139)
Balance at December 31, 2018		50
Provision for prompt payment discount during the year		540
Reduction in prompt payment discount during the year		(481)
Balance at December 31, 2019		109
Provision for prompt payment discount during the year		807
Reduction in prompt payment discount during the year		(745)
Balance at December 31, 2020	$	171

Schedule of computation of basic and diluted loss per share

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except per share amounts):


	Year Ended
	December 31,
	2020		2019		2018
EPS Numerator:
Net income (loss)	$	(29,744)	$	(66,894)	$	(70,480)
EPS Denominator—Basic:
Weighted-average common shares outstanding		168,754		167,400		160,529

Net income (loss) per common share, basic and diluted	$	(0.18)	$	(0.40)	$	(0.44)

Schedule of antidilutive securities


	December 31,
	2020		2019		2018
Outstanding stock options		27,260		22,671		20,713
Weighted average exercise price of options	$	3.05	$	3.51	$	4.20