Ligand Pharma Stock Price, News & Analysis

Ligand Pharmaceuticals (NASDAQ: LGND) reported strong financial results for 2020, with total revenues of $186.4 million, up from $120.3 million in 2019. The fourth quarter saw revenues of $70 million, primarily driven by a surge in Captisol sales, which reached $41 million. Net income improved to $5.8 million, or $0.35 per diluted share, compared to a loss of $7.4 million in Q4 2019. Ligand raised its 2021 guidance, anticipating revenues of approximately $291 million and adjusted EPS of $6.15, benefiting from positive developments in its partner programs.

Ligand Pharmaceuticals (NASDAQ: LGND) announced a significant milestone in partnership with Travere Therapeutics regarding the pivotal Phase 3 DUPLEX Study of sparsentan for treating focal segmental glomerulosclerosis (FSGS). The interim results show that 42% of patients on sparsentan achieved the pre-specified endpoint of partial remission of proteinuria after 36 weeks, compared to 26% on irbesartan (p=0.0094). Ligand will receive $5.9 million upon NDA submission and 9% royalties on future sales. The study continues, with top-line results expected in the first half of 2023.

Ligand Pharmaceuticals (LGND) will announce its fourth quarter 2020 financial results on February 3, 2021. CEO John Higgins, President and COO Matt Foehr, and Executive Vice President and CFO Matt Korenberg will lead the conference call at 8:30 a.m. ET (5:30 a.m. PT). The call will provide insights into the company's financial performance and business updates. Investors can join the call via phone or through a live webcast at www.ligand.com.

Ligand Pharmaceuticals (NASDAQ: LGND) announced a $1.5 million milestone payment from Merck following the FDA's acceptance of the biologics license application for V114, a 15-valent pneumococcal conjugate vaccine. CEO John Higgins highlighted this collaboration as vital to Ligand's acquisition of Pfenex. Should V114 launch commercially, Ligand stands to earn low-single-digit royalties on net sales. Additionally, Ligand's Protein Expression Technology platform plays a key role in the vaccine's development, showing the company's capacity in biopharmaceutical production.

Ligand Pharmaceuticals (NASDAQ: LGND) has announced a collaboration with GlaxoSmithKline (GSK) via its subsidiary Icagen, focusing on small molecule therapeutics aimed at neurological diseases. The partnership will use Icagen's technology for drug discovery, with Ligand receiving an upfront payment of $7 million and potential milestone payments totaling up to $154.5 million. Ligand will handle preclinical activities while GSK will manage further development and commercialization. This agreement aligns with Ligand's strategy to collaborate with industry leaders for drug discovery.

Ligand Pharmaceuticals (NASDAQ: LGND) announced significant clinical and regulatory advancements through its OmniAb^® platform. Two major pharmaceutical partners achieved key milestones, collectively generating $4.5 million in milestone payments for Ligand. Additionally, CStone Pharmaceuticals' New Drug Application for sugemalimab, an OmniAb-derived antibody for lung cancer, has been accepted for review by China's regulatory authority. Notably, positive interim results from a Phase 3 trial highlighted the efficacy of combining sugemalimab with chemotherapy in treating advanced NSCLC, presenting a promising growth potential for Ligand's revenue.

Ligand Pharmaceuticals (NASDAQ: LGND) announces FDA approval for SESQUIENT, a Captisol-enabled Fosphenytoin for treating status epilepticus in adults and children. This is the only FDA-approved formulation that allows for point-of-care storage, enhancing emergency treatment efficiency. SESQUIENT is set for commercial licensing across North America and Europe, excluding China, where it is already licensed. CEO John Higgins highlighted the significance of this approval for Ligand’s Captisol technology amidst a year of clinical and financial milestones.

Ligand Pharmaceuticals (NASDAQ: LGND) reported strong financial results for Q3 2020, with total revenues reaching $41.8 million, up from $24.8 million in Q3 2019. Highlights include Captisol sales of $23.4 million driven by demand for Gilead's Veklury. Adjusted diluted EPS was $1.04, surpassing expectations. Year-to-date revenues were $116.4 million, while total revenue guidance for 2020 is set at $170 million and $285 million for 2021. Ligand successfully completed three acquisitions within three months, enhancing its technology platform.

Ligand Pharmaceuticals (NASDAQ: LGND) announced its pivotal role in producing Veklury (remdesivir), the sole FDA-approved COVID-19 treatment. Gilead Sciences' Veklury leverages Ligand's Captisol technology, and the drug is now widely available in U.S. hospitals. Ligand's CEO, John Higgins, emphasized the company's commitment to supporting Gilead, having scaled up Captisol production significantly. With COVID-19 cases on the rise, Ligand is positioned to meet increasing demand while pursuing growth in its diversified core business, independent of remdesivir.