Ligand Pharma Stock Price, News & Analysis

Ligand Pharmaceuticals has appointed Jennifer Cochran, Ph.D., Professor at Stanford University, to its Board of Directors. Dr. Cochran brings extensive experience in bioengineering and entrepreneurial leadership, previously co-founding xCella Biosciences. Her background includes over 50 patents and significant contributions to drug discovery, notably with molecules in Phase 3 trials for ovarian cancer. Chairman John Kozarich highlighted Dr. Cochran's potential to enhance Ligand's investment in the OmniAb technology stack.

Ligand Pharmaceuticals (NASDAQ: LGND) reported strong first-quarter results for 2021, with total revenues of $55.2 million, up from $33.2 million year-over-year. The company anticipates 2021 to be its highest revenue year, projecting approximately $291 million in total revenues. Net income reached $18.1 million or $1.05 per diluted share, a significant turnaround from a net loss of $24.1 million in Q1 2020. Major contributors include increased sales of Captisol for remdesivir and successful acquisitions. Adjusted earnings per share are forecasted at $6.15.

Ligand Pharmaceuticals (NASDAQ: LGND) will announce its financial results for the first quarter of 2021 on May 3, 2021, following the close of U.S. markets. A conference call will occur at 4:30 p.m. ET to discuss these results and provide business updates, featuring CEO John Higgins, President Matt Foehr, and CFO Matt Korenberg. Ligand operates on a revenue-generating model, focusing on drug discovery and development technologies, partnering with major pharmaceutical companies to optimize medication development.

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.