-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001209191-04-012147.txt : 20040223
<SEC-HEADER>0001209191-04-012147.hdr.sgml : 20040223
<ACCEPTANCE-DATETIME>20040223201711
ACCESSION NUMBER:		0001209191-04-012147
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040219
FILED AS OF DATE:		20040223

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MPM BIOEQUITIES GP LP
		CENTRAL INDEX KEY:			0001249149
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29889
		FILM NUMBER:		04623278

	MAIL ADDRESS:	
		STREET 1:		111 HUNTINGTON AVE 31ST FL
		STREET 2:		MPM CAPITAL
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199

	FORMER NAME:	
		FORMER CONFORMED NAME:	MPM BIO EQUITIES GP LP
		DATE OF NAME CHANGE:	20030627

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MPM BIOEQUITIES GP LLC
		CENTRAL INDEX KEY:			0001249151
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29889
		FILM NUMBER:		04623277

	MAIL ADDRESS:	
		STREET 1:		111 HUNTINGTON AVE 31ST FL
		STREET 2:		MPM CAPITAL
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199

	FORMER NAME:	
		FORMER CONFORMED NAME:	MPM BIO EQUITIES GP LLC
		DATE OF NAME CHANGE:	20030627

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LIPTAK ROBERT
		CENTRAL INDEX KEY:			0001252523

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29889
		FILM NUMBER:		04623273

	MAIL ADDRESS:	
		STREET 1:		111 HUNTINGTON AVE 31ST FL
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			EMSTER KURT VON
		CENTRAL INDEX KEY:			0001252524

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29889
		FILM NUMBER:		04623272

	MAIL ADDRESS:	
		STREET 1:		601 GATEWAY BLVD
		STREET 2:		STE 350
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94080

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MPM BIOEQUITIES FUND GMBH & CO KG
		CENTRAL INDEX KEY:			0001271152
		STATE OF INCORPORATION:			2M
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29889
		FILM NUMBER:		04623276

	MAIL ADDRESS:	
		STREET 1:		601 GATEWAY BOULEVARD
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94080

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			EVNIN LUKE
		CENTRAL INDEX KEY:			0001134657

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29889
		FILM NUMBER:		04623275

	BUSINESS ADDRESS:	
		STREET 1:		ONE CAMBRIDGE CENTER
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142
		BUSINESS PHONE:		6172257054

	MAIL ADDRESS:	
		STREET 1:		ONE CAMBRIDGE CENTER
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MPM BIOEQUITIES MASTER FUND LP
		CENTRAL INDEX KEY:			0001232901
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29889
		FILM NUMBER:		04623279

	BUSINESS ADDRESS:	
		STREET 1:		111 HUNTINGTON AVENUE
		STREET 2:		31ST FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199
		BUSINESS PHONE:		617 425 9200

	MAIL ADDRESS:	
		STREET 1:		111 HUNTINGTON AVE., 31TH FL
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02199

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GADICKE ANSBERT
		CENTRAL INDEX KEY:			0001134655

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29889
		FILM NUMBER:		04623274

	BUSINESS ADDRESS:	
		STREET 1:		ONE CAMBRIDGE CENTER
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142
		BUSINESS PHONE:		6172257054

	MAIL ADDRESS:	
		STREET 1:		ONE CAMBRIDGE CENTER
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142
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    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-02-19</periodOfReport>

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    <issuer>
        <issuerCik>0001034842</issuerCik>
        <issuerName>RIGEL PHARMACEUTICALS INC</issuerName>
        <issuerTradingSymbol>RIGL</issuerTradingSymbol>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001232901</rptOwnerCik>
            <rptOwnerName>MPM BIOEQUITIES MASTER FUND LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MPM ASSET MANAGEMENT</rptOwnerStreet1>
            <rptOwnerStreet2>111 HUNTINGTON AVENUE, 31ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02199</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001249149</rptOwnerCik>
            <rptOwnerName>MPM BIOEQUITIES GP LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MPM ASSET MANAGEMENT</rptOwnerStreet1>
            <rptOwnerStreet2>111 HUNTINGTON AVENUE, 31ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02199</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
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    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001249151</rptOwnerCik>
            <rptOwnerName>MPM BIOEQUITIES GP LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MPM ASSET MANAGEMENT</rptOwnerStreet1>
            <rptOwnerStreet2>111 HUNTINGTON AVENUE, 31ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02199</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        <reportingOwnerRelationship>
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            <isOther>0</isOther>
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    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001271152</rptOwnerCik>
            <rptOwnerName>MPM BIOEQUITIES FUND GMBH &amp; CO KG</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MPM ASSET MANAGEMENT</rptOwnerStreet1>
            <rptOwnerStreet2>111 HUNTINGTON AVENUE, 31ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02199</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001134657</rptOwnerCik>
            <rptOwnerName>EVNIN LUKE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MPM ASSET MANAGEMENT</rptOwnerStreet1>
            <rptOwnerStreet2>111 HUNTINGTON AVENUE, 31ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02199</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001134655</rptOwnerCik>
            <rptOwnerName>GADICKE ANSBERT</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MPM ASSET MANAGEMENT</rptOwnerStreet1>
            <rptOwnerStreet2>111 HUNTINGTON AVENUE, 31ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02199</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
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    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001252523</rptOwnerCik>
            <rptOwnerName>LIPTAK ROBERT</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MPM ASSET MANAGEMENT</rptOwnerStreet1>
            <rptOwnerStreet2>111 HUNTINGTON AVENUE, 31ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02199</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001252524</rptOwnerCik>
            <rptOwnerName>EMSTER KURT VON</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MPM ASSET MANAGEMENT</rptOwnerStreet1>
            <rptOwnerStreet2>111 HUNTINGTON AVENUE, 31ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02199</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-02-19</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>172373</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>20.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4350516</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">See Form 4 filed for MPM BioVentures III-QP, L.P. for additional members of this joint filing.  The shares were sold as follows:  9,648 by MPM BioVentures III, L.P. (&quot;BVIII&quot;); 143,488 by MPM BioVentures III-QP, L.P. (&quot;BVIII QP&quot;); 12,126 by MPM BioVentures III GmbH &amp; Co. Beteiligungs KG (&quot;BVIII KG&quot;); 4,333 by MPM Bioventures III Parallel Fund, L.P. (&quot;BVIII PF&quot;); and 2,778 by MPM Asset Management Investors 2003 BVIII LLC (&quot;BVAM LLC&quot;).  MPM BioVentures III GP, L.P. (&quot;BVIII GP&quot;) and MPM BioVentures III LLC (&quot;BVIII LLC&quot;) are the direct and indirect partners of BVIII, BVIII QP, BVIII PF and BVIII KG.</footnote>
        <footnote id="F2">The shares are held as follows:  182,511 by MPM BioEquities Master Fund, L.P. (&quot;BEMF&quot;) and 100 by MPM BioEquities Fund GmbH &amp; Co. KG (&quot;BEFG&quot;), who are under common control with BVIII; 233,277 by BVIII; 3,469,459 by BVIII QP; 293,213 by BVIII KG; 104,782 by BVIII PF; and 67,174 by BVAM LLC.  MPM BioEquities GP, LP (&quot;BE LP&quot;) and MPM BioEquities GP, LLC (&quot;BE LLC&quot;), are the direct and indirect general partners of BEMF and BEFG.  Luke Evnin (&quot;LE&quot;), Ansbert Gadicke (&quot;AG&quot;), Nicholas Galakatos (&quot;NG&quot;), Dennis Henner (&quot;DH&quot;), Michael Steinmetz (&quot;MS&quot;) and Kurt Wheeler (&quot;KW&quot;) are the members of BVIII LLC.   LE, AG, Robert Liptak and Kurt von Emster are members of BE LLC.  LE, AG, NG, DH, Nicholas Simon, III, MS and KW are members of BVAM LLC.  Each member of the group disclaims beneficial ownership of the securities except to the extent of its pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>By Luke Evnin manager of MPM BioEquities GP LLC, the general partner of MPM BIoEquities GP, LP, the general partner of MPM BioEquities Master Fund, L.P. /s/ Luke Evnin</signatureName>
        <signatureDate>2004-02-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>By Luke Evnin manager of MPM BioEquities GP LLC, the general partner of MPM BIoEquities GP, LP /s/ Luke Evnin</signatureName>
        <signatureDate>2004-02-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>By Luke Evnin manager of MPM Bioequities GP LLC /s/ Luke Evnin</signatureName>
        <signatureDate>2004-02-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>By Luke Evnin manager of MPM BioEquities GP LLC, the general partner of MPM BIoEquities GP, LP, the general partner of MPM BioEquities Fund GmbH &amp; Co. KG /s/ Luke Evnin</signatureName>
        <signatureDate>2004-02-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Luke Evnin</signatureName>
        <signatureDate>2004-02-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Ansbert Gadicke</signatureName>
        <signatureDate>2004-02-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Robert Liptak</signatureName>
        <signatureDate>2004-02-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Kurt von Emster</signatureName>
        <signatureDate>2004-02-23</signatureDate>
    </ownerSignature>
</ownershipDocument>

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-----END PRIVACY-ENHANCED MESSAGE-----