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. (NASDAQ: LGND) is a biopharmaceutical company that regularly issues news about its royalty portfolio, technology platforms and capital deployment. The company describes its model as enabling the clinical development of high‑value medicines by providing financing, licensing its technologies, or both, and this approach is reflected in its press releases and investor communications.
News about Ligand often covers financial results and guidance, including updates on total core revenue, royalty revenue, Captisol sales, contract revenue and non‑GAAP measures such as core adjusted earnings per diluted share. The company’s announcements highlight how royalty revenue from partnered products such as Filspari, Ohtuvayre, Capvaxive, Qarziba and Zelsuvmi contributes to its outlook, as well as how deployable capital and new royalty investments are expected to influence long‑term royalty receipts.
Investors following LGND news will also see updates on Ligand’s technology platforms and partner programs. Releases describe Captisol‑enabled approvals like Lasix ONYU, developments in programs such as Qtorin rapamycin, and clinical or regulatory milestones reported by partners that may affect Ligand’s royalty streams. In addition, the company reports on financing transactions, including convertible senior notes offerings and amendments to its credit agreement, which provide context on how Ligand funds royalty acquisitions and other strategic investments.
Corporate events such as Investor Day presentations and participation in healthcare and biopharma conferences are another recurring theme in Ligand’s news flow. These events typically feature discussions of strategy, investment activity, the royalty portfolio and long‑term financial outlook. For investors and observers, the LGND news page offers a centralized view of how Ligand’s royalty‑focused business model, technology licensing and capital allocation decisions evolve over time.
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.
Ligand Pharmaceuticals (NASDAQ: LGND) held a virtual Investor Day, outlining recent business progress and financial guidance. Key highlights include plans to consolidate facilities to Emeryville, California, and forecasted growth driven by royalty revenues, expected to reach $95 million in 2023. Management anticipates significant pipeline events by 2021 year-end, including new commercial product approvals. Captisol demand remains strong, particularly for COVID-19 treatment, and Ligand has raised its 2020 revenue guidance to approximately $170 million, reflecting over 55% growth from 2019.
Ligand Pharmaceuticals (NASDAQ: LGND) announced its Q3 2020 earnings report set for October 30, 2020. The conference call will feature key executives including CEO John Higgins and COO Matt Foehr, providing insights on financial performance and business updates. Investors can access the call at 8:30 a.m. ET (5:30 a.m. PT) via phone or online. Ligand focuses on developing technologies for pharmaceutical firms to enhance drug discovery and development, emphasizing a diversified and lower-risk business model in the biotech industry.
Ligand Pharmaceuticals (NASDAQ: LGND) has announced the sale of its Vernalis research operations to HitGen Inc. for $25 million in cash. The transaction, expected to close in Q4 2020, allows Ligand to retain economic rights on existing collaboration licenses and current contracts. Ligand's CEO highlighted the divestiture as a strategic move following recent U.S. acquisitions aimed at enhancing their antibody discovery and protein expression capabilities. The deal includes the transition of approximately 80 employees and related facilities to HitGen, which aims to expand its presence in the UK.
Ligand Pharmaceuticals (NASDAQ: LGND) will host a virtual Investor Day on October 20, 2020, from 11:00 a.m. to 1:00 p.m. ET. Key executives including CEO John Higgins and CFO Matt Korenberg will present on various topics including 2021 financial guidance, the Pfenex acquisition, and Captisol's role in COVID-19 treatments. Dr. Matthew R. Davis will discuss current COVID-19 treatment guidelines during the event. Interested participants can join the webcast and participate in a Q&A session. The presentation will be archived for 90 days.
Ligand Pharmaceuticals (NASDAQ: LGND) has successfully acquired Pfenex Inc. for $437.5 million in cash, supplemented by a contingent value right of up to $78 million upon achieving a milestone. The acquisition, deemed transformative, will enhance Ligand's portfolio with new technologies and collaborations that are expected to drive substantial revenue growth. Forecasts indicate Pfenex could generate $30 million in 2021 and double that by 2023, with a significant contribution to Ligand's royalty revenue.
Ligand Pharmaceuticals (NASDAQ: LGND) announced the expiration of its tender offer for Pfenex Inc. (NYSE American: PFNX), where it sought to acquire all outstanding shares at $12.00 each, plus a potential $2.00 contingent payment. Approximately 27.6 million shares, or 80.3% of Pfenex's outstanding shares, were validly tendered. The merger is expected to close on October 1, 2020, after which Pfenex will become a wholly-owned subsidiary, and its stock will cease trading on the NYSE American. Ligand aims to leverage Pfenex's capabilities to enhance its biopharmaceutical portfolio.