Ligand Pharma - LGND STOCK NEWS

Ligand Pharmaceuticals (NASDAQ: LGND) announced a merger agreement to combine its subsidiary Pelthos Therapeutics with Channel Therapeutics (NYSE: CHRO). The transaction, expected to close in summer 2025, will raise $50 million in equity capital, with Ligand investing $18 million and an investor group led by Murchinson contributing $32 million.

The combined company will operate as Pelthos Therapeutics Inc. (NYSE: PTHS) and focus on commercializing ZELSUVMI™, an FDA-approved prescription medication for Molluscum contagiosum infections. ZELSUVMI is the first home-use treatment approved for patients aged one year and older. Ligand will retain a 13% royalty on worldwide sales.

The merged entity will maintain Channel's NaV 1.7 development programs for chronic pain, eye pain, and post-surgical nerve blocks. Scott Plesha will serve as CEO of the combined company, with Frank Knuettel II as CFO.

Ligand Pharmaceuticals (Nasdaq: LGND) has announced its participation in two major healthcare investor conferences this March 2025. CEO Todd Davis and CFO Tavo Espinoza will represent the company at both events in Miami.

The management team will attend the Leerink Partners Global Healthcare Conference on March 10, engaging in one-on-one meetings with investors. Following this, they will participate in the Barclays 27th Annual Global Healthcare Conference on March 12, where they will join a fireside chat at 12:00 p.m. ET and conduct additional one-on-one meetings.

Investors interested in scheduling individual meetings with Ligand's management should reach out to their Leerink or Barclays representatives to arrange appointments.

Ligand Pharmaceuticals (LGND) reported strong financial results for Q4 and full year 2024, with total revenues reaching $167.1 million for the year. The company saw a 28% growth in royalty revenue, driven by strong performance across major commercial programs.

Q4 2024 revenues were $42.8 million, up 52% from Q4 2023, primarily due to royalty revenue of $34.8 million. However, LGND reported a Q4 GAAP net loss of $31.1 million ($1.64 per share), compared to net income of $18.2 million in Q4 2023.

Key highlights include FDA approvals for three portfolio products with blockbuster potential: Verona's Ohtuvayre, Travere's Filspari, and Merck's Capvaxive. The company reiterated its 2025 guidance of $180-$200 million in revenues and adjusted earnings per share of $6.00-$6.25.

Ligand Pharmaceuticals (Nasdaq: LGND) has announced a $75 million royalty financing agreement with Castle Creek Biosciences to support the Phase 3 clinical study of D-Fi (FCX-007), an autologous gene-modified cell therapy for dystrophic epidermolysis bullosa (DEB). Ligand invested $50 million, leading a syndicate of co-investors who contributed $25 million, in exchange for a high-single digit royalty on worldwide sales of D-Fi. The syndicate includes Paragon Biosciences, Valor Equity Partners, and XOMA Royalty (Nasdaq: XOMA).

D-Fi, an injectable therapy, addresses DEB, a rare genetic skin disorder caused by a mutation in the COL7A1 gene. The therapy uses genetically modified dermal fibroblasts to express COL7 protein, aiding the formation of skin anchoring fibrils. Clinical studies have shown D-Fi to be generally well tolerated, with injection site reactions being the primary adverse effects.

D-Fi has received multiple FDA designations, including Orphan Drug, Rare Pediatric Disease, Fast Track, and Regenerative Medicine Advanced Therapy for the treatment of recessive dystrophic epidermolysis bullosa (RDEB).

Ligand Pharmaceuticals (Nasdaq: LGND) has scheduled its fourth quarter and full year 2024 financial results announcement for Thursday, February 27, 2025, before U.S. markets open. The company will host a conference call and webcast at 8:30 a.m. ET (5:30 a.m. PT) on the same day to discuss the results and provide a business update. The call will be accessible via phone for U.S. & Canada (800-715-9871) and International (646-307-1963) participants using conference ID 8755336. A live webcast and replay will also be available.

Ligand Pharmaceuticals (Nasdaq: LGND) has announced its participation in the upcoming Oppenheimer 35th Annual Healthcare Life Sciences Conference. CEO Todd Davis and CFO Tavo Espinoza will deliver a presentation on February 11, 2025, at 2:40 p.m. Eastern Time.

The company's management team will be available for one-on-one meetings with investors and conference attendees. Interested investors can arrange meetings through their Oppenheimer representative.

Ligand Pharmaceuticals (Nasdaq: LGND) announced its 2025 guidance during its Investor and Analyst Day, projecting total revenue of $180-200 million, representing a 17% increase over 2024. The company expects royalty revenue of $135-140 million, Captisol sales of $35-40 million, and contract revenue of $10-20 million, with core adjusted earnings per diluted share of $6.00-6.25.

The company reaffirmed its 2024 guidance of $160-165 million in total revenue and core adjusted earnings per diluted share of $5.50-5.70. Long-term projections indicate royalty receipts growing at a 22% compound annual growth rate, reaching approximately $285 million by 2029.

Over the past two years, Ligand has deployed $192 million across eight investments and is currently evaluating over $1 billion in actionable opportunities.

Ligand Pharmaceuticals (Nasdaq: LGND) has announced its participation in the Stifel 2024 Healthcare Conference in New York. CEO Todd Davis and CFO Tavo Espinoza will deliver a presentation on Tuesday, November 19, 2024, at 12:40 p.m. Eastern Time. The company's management team will also be available for one-on-one meetings with investors and conference attendees. Interested investors should contact their Stifel representative to schedule meetings.

Ligand Pharmaceuticals (Nasdaq: LGND) has announced plans to host an Investor and Analyst Day in Boston on December 10, 2024, from 10:30 a.m. to 12:00 p.m. Eastern Time. The event will feature presentations from senior management covering company strategy, investment activities, royalty portfolio, and long-term financial outlook. Key features include an in-person format, a live Q&A session, and accessibility via webcast through Ligand's Investor Relations website. A replay will be available after the event.