SOUTH SAN FRANCISCO, Calif. (AP) — SOUTH SAN FRANCISCO, Calif. (AP) — Rigel Pharmaceuticals Inc. (RIGL) on Thursday reported third-quarter net income of $12.4 million.

The South San Francisco, California-based company said it had profit of 70 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.

The drug developer posted revenue of $55.3 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $40.7 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RIGL at https://www.zacks.com/ap/RIGL