RIGEL PHARMACEUTICALS INC — Director's Dealing 2008

Feb 5, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RIGEL PHARMACEUTICALS INC (RIGL)
CIK: 0001034842
Period of Report: 2008-01-31

Reporting Person: PAYAN DONALD G (Director, EVP, Pres. Discovery&Research)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-01-31	Stock Option (Right to Buy)	$26.45	A	140000	Acquired	2018-01-31	Common Stock (140000)	Direct

Footnotes

F1: The shares vest monthly over one (1) year from 1/01/08.