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) announced that its partner, Gloria Biosciences, has received approval from the National Medical Products Administration (NMPA) in China for zimberelimab (GLS-010), an anti-PD-1 monoclonal antibody, for treating recurrent or refractory classical Hodgkin's lymphoma (cHL). This marks the first regulatory approval for an OmniAb-derived antibody and follows promising clinical data, including a 90.6% overall response rate in a Phase 2 study. Ligand is entitled to royalties on future sales of zimberelimab, enhancing its revenue potential.
Ligand Pharmaceuticals (NASDAQ: LGND) announced positive interim results from the pivotal Phase 3 PROTECT Study of sparsentan, a treatment for IgA nephropathy (IgAN). The study showed a statistically significant reduction in proteinuria after 36 weeks, with sparsentan achieving a 49.8% mean decrease compared to 15.1% for irbesartan (p0.0001). Ligand is set to receive a $5.9 million milestone upon NDA submission by Travere, the partner company. Sparsentan's promising data could lead to accelerated approval in the U.S. and conditional marketing authorization in Europe.
Ligand Pharmaceuticals (NASDAQ: LGND) reported strong Q2 2021 financial results, with total revenues of $84.7 million, up from $41.4 million year-over-year. Key contributors included $62.5 million in Captisol sales, mainly for remdesivir, and contract revenue of $13.6 million. Net income rose to $30.7 million ($1.79 per diluted share), aided by a $34.1 million non-cash valuation adjustment. However, the company lowered full-year revenue guidance to $265-$275 million due to reduced Captisol demand. Ligand anticipates multiple regulatory drug approvals this year, enhancing revenue streams in 2022 and beyond.
Landing AI has signed a software licensing agreement with Ligand Pharmaceuticals (NASDAQ: LGND) to integrate LandingLens into Ligand's OmniAb and xPloration antibody discovery platforms. This AI-driven technology enhances high-throughput B cell screening accuracy, potentially accelerating antibody yield production. Both companies emphasize creating accurate datasets for continuous AI system improvement. Ligand aims to leverage this partnership to strengthen its pharmaceutical technology and improve drug discovery efficiencies.
Ligand Pharmaceuticals (NASDAQ: LGND) announces that Jazz Pharmaceuticals (NASDAQ: JAZZ) has launched Rylaze™ (asparaginase erwinia chrysanthemi), approved by the FDA on June 30, 2021. This drug offers a therapeutic option for patients with acute lymphoblastic leukemia or lymphoblastic lymphoma who are hypersensitive to E. coli-derived asparaginase. Ligand received $2 million upon the FDA's review and will earn $5 million at the first commercial sale, plus up to $155.5 million in milestone payments and royalties based on global sales, demonstrating a strong partnership with Jazz Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ: LGND) announced that its partner Merck received FDA approval for VAXNEUVANCETM (V114), a 15-valent pneumococcal vaccine for adults. This approval triggers a $2 million milestone payment to Ligand, along with a low-single-digit royalty on future sales. Merck intends to submit an application for pediatric use later this year. The vaccine utilizes Ligand's CRM197 protein produced by Pelican Expression Technology™, a robust platform for recombinant protein production.
Ligand Pharmaceuticals (NASDAQ: LGND) will announce its financial results for Q2 2021 on July 29, 2021, after market close. A conference call will follow at 4:30 PM ET, featuring CEO John Higgins and other executives. Ligand generates revenue through its innovative drug discovery technologies, which include the OmniAb® platform for antibody development and Captisol® for drug solubility. The company collaborates with major pharmaceutical firms to enhance its offerings, aiming to deliver lower-risk investment opportunities in biotech.
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.