Welcome to our dedicated page for Ligand Pharma news (Ticker: LGND), a resource for investors and traders seeking the latest updates and insights on Ligand Pharma stock.
Ligand Pharmaceuticals Inc. reports developments in its biopharmaceutical royalty aggregation and technology-licensing business. The company partners with pharmaceutical and biotechnology companies, funds late-stage clinical development programs in exchange for long-term economic interests, and manages royalty interests across development- and commercial-stage therapeutic assets.
Recurring LGND news includes operating and financial results, royalty revenue drivers, material agreements, capital-structure updates, and partner clinical or regulatory events tied to products in the portfolio. Company updates also cover proprietary technologies such as Captisol® and NITRICIL™, business-development activity, and portfolio assets such as FILSPARI® where Ligand has an economic interest.
Ligand Pharmaceuticals (NASDAQ: LGND) will announce its second quarter 2022 financial results on August 8, 2022, following the U.S. market close. A conference call led by CEO John Higgins, President and COO Matt Foehr, and CFO Matt Korenberg will commence at 4:30 p.m. ET. Investors can participate via a dial-in or by accessing the live webcast. Ligand continues to focus on developing technologies that aid in drug discovery for the biopharmaceutical industry, maintaining a diversified revenue stream through strategic partnerships with major pharmaceutical companies.
Ligand Pharmaceuticals (NASDAQ: LGND) has appointed Jason Haas to its Board of Directors. With over 30 years of experience in healthcare investment banking, Haas has been a financial advisor to Ligand for the past decade. His deep understanding of the company will be beneficial as Ligand prepares for the spin-off of OmniAb. Currently the CFO of Syros Pharmaceuticals, Haas has held significant roles at major investment banks, where he executed strategic transactions and financings.
Ligand Pharmaceuticals reported Q1 2022 financial results with revenue of $45.7 million, down from $55.2 million year-over-year. Despite a 93% increase in royalty revenue to $13.7 million, COVID-19 related Captisol sales declined significantly. The net loss was $(15.4) million, or $(0.91) per share. Ligand reaffirms its 2022 revenue guidance of $147 million to $172 million and adjusted EPS guidance of $1.70 to $2.20, including contributions from OmniAb and COVID-related sales. The planned spin-off of OmniAb through a merger with Avista SPAC is anticipated to close later this year.
Ligand Pharmaceuticals (NASDAQ: LGND) will announce its first quarter 2022 financial results on May 4, 2022, after U.S. market close. The conference call will start at 4:30 p.m. Eastern Time with CEO John Higgins, President Matt Foehr, and CFO Matt Korenberg. Investors can dial in at (866) 518-6930 or (203) 518-9797 for international participants. A webcast of the call will be available for live and replay access. Ligand develops technologies for drug discovery and partners with leading pharmaceutical companies.
Ligand Pharmaceuticals (NASDAQ: LGND) announced the grant of non-qualified stock option awards for 40,000 shares to Kurt Gustafson, newly appointed CFO of OmniAb, effective April 8, 2022. The options have an exercise price of $117.06, above the closing stock price on the grant date. Vesting occurs over four years, with an initial 12.5% vesting after six months. These inducement awards comply with NASDAQ Listing Rule 5635(c)(4), reflecting Ligand's strategy to attract key talent to drive its antibody discovery business.
Ligand Pharmaceuticals has entered a merger agreement with Avista Public Acquisition Corp. II. This transaction involves a spin-off of OmniAb, Ligand's antibody discovery business, into an independent public company. Shareholders of Ligand will receive 100% of OmniAb shares in a tax-free distribution. The deal includes a $115 million investment from Avista, alongside Ligand's $15 million contribution, valuing the combined company at $850 million. The transaction is expected to close in the second half of 2022, subject to regulatory approvals.
Ligand Pharmaceuticals (NASDAQ: LGND) reported strong financial results for Q4 and the full year 2021, with total revenues of $72.5 million in Q4, up from $70.0 million in 2020, and $277.1 million for the year, a significant increase from $186.4 million in 2020. Royalties rose to $17.6 million in Q4, largely due to the Pelican platform. However, net income for Q4 was a loss of $5.0 million compared to a profit of $5.8 million the previous year. Ligand plans to spin off its OmniAb business, expected to generate substantial growth, and provided guidance for 2022 revenues of $147 million to $172 million.
Ligand Pharmaceuticals (NASDAQ: LGND) will announce its fourth quarter 2021 financial results on February 17, 2022, after U.S. market close. A conference call led by CEO John Higgins and other executives will follow at 4:30 p.m. Eastern Time. The call aims to discuss financial results and provide business updates. Interested stakeholders can join the call by dialing (833) 540-1167 in the U.S. and (929) 517-0358 internationally, with conference ID 4832757. A webcast will also be available for live and replay access.
Ligand Pharmaceuticals (NASDAQ: LGND) announced the approval of its partner CStone Pharmaceuticals' drug, sugemalimab (Cejemly®), by China’s National Medical Products Administration (NMPA). This monoclonal antibody is now authorized for treating first-line metastatic non-small cell lung cancer (NSCLC) in combination with chemotherapy. Previous studies, including the Phase 3 GEMSTONE trials, demonstrated significant increases in progression-free survival (PFS) and overall survival (OS) compared to prior treatments. This approval marks a critical achievement for Ligand's OmniAb platform.
Ligand Pharmaceuticals (NASDAQ: LGND) announced an expansion of its collaboration with GlaxoSmithKline (GSK), leveraging Icagen's ion-channel discovery technology for neurological diseases.
Ligand will receive an upfront payment of $10 million, with potential development and regulatory milestones up to $67.5 million.
The deal includes commercial milestone payments of up to $60 million and tiered royalties on net sales of any drugs commercialized by GSK.