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 innovator specializing in drug discovery technologies and strategic licensing partnerships. This page aggregates official updates about the company's research advancements, financial milestones, and Captisol® technology applications.
Investors and industry professionals will find timely updates on earnings reports, regulatory developments, and partnership announcements. Our curated collection includes press releases about new licensing agreements, clinical trial progress, and intellectual property expansions that shape LGND's position in the pharmaceutical sector.
Key areas of coverage include updates on royalty-bearing partnerships, Captisol® formulation breakthroughs, and corporate financial strategies. Bookmark this page to monitor how Ligand's lean operational model and diversified revenue streams continue to drive innovation in drug development.
Ligand Pharmaceuticals (Nasdaq: LGND) will acquire APEIRON Biologics AG for $100 million in cash, gaining royalty rights to QARZIBA®, an oncology drug for high-risk neuroblastoma marketed in 35 countries.
This acquisition will immediately increase Ligand's EPS by $1.00 annually and increase 2024 adjusted EPS guidance by 17% to $5.00-$5.50. Additional consideration up to $28 million may be paid to APEIRON based on future QARZIBA royalties by 2030 or 2034.
Ligand's 2024 revenue guidance is raised to $140 million-$157 million, and royalties expected to range from $100 million-$105 million. The transaction, approved by both companies' boards, is expected to close in July 2024.
Ligand Pharmaceuticals announced that its partner, Verona Pharma, received FDA approval for Ohtuvayre™ (ensifentrine), the first inhaled novel mechanism of action drug for COPD maintenance treatment in over 20 years. Ligand will receive a $5.8 million milestone payment and an additional $13.8 million upon commercial launch in Q3 2024. Ligand is also entitled to a low single-digit royalty on worldwide net sales of Ohtuvayre.
This marks Ligand's second FDA approval within a fortnight and the eighth since 2023. Ohtuvayre targets the multi-billion-dollar COPD market in the U.S. and is expected to bolster Ligand’s growth. The drug combines bronchodilator and non-steroidal anti-inflammatory effects, delivered via a standard jet nebulizer, enhancing ease of use for patients.
Ligand Pharmaceuticals announced that its collaborator Merck has received FDA approval for CAPVAXIVE™, a 21-valent pneumococcal conjugate vaccine for adults. This marks the sixth FDA-approved product utilizing Ligand's Pfenex Expression Technology® platform. Merck's approval triggers a $2 million milestone payment to Ligand, which is also entitled to royalties on global net sales. CAPVAXIVE, previously known as V116, is intended to prevent invasive pneumococcal disease and pneumonia. The PeliCRM197® carrier protein, enhancing antigen immunogenicity, is a key component of this vaccine. Ligand continues to collect commercial royalties on products developed with its technology, including CAPVAXIVE.
Ligand Pharmaceuticals (Nasdaq: LGND) announced the participation of its CEO, Todd Davis, and CFO, Tavo Espinoza, in two upcoming investor conferences. The company will attend the Craig-Hallum Institutional Investor Conference in Minneapolis on May 29, 2024, where management will hold one-on-one meetings with investors. Additionally, Ligand will present at the Goldman Sachs Global Healthcare Conference in Miami on June 12, 2024, at 4:00 p.m. ET, and will also be available for one-on-one meetings. Interested investors should contact their respective institutional equity sales representatives at Craig-Hallum or Goldman Sachs.
Ligand Pharmaceuticals and Agenus have entered into a $100 million royalty financing agreement to support Agenus' key development initiatives in the BOT/BAL clinical development program. Ligand will pay $75 million initially and can invest an additional $25 million. They will receive royalties and milestone payments on six Agenus-partnered programs and future global net sales generated by BOT/BAL. Agenus can syndicate up to $125 million, with potential total capital infusion of $200 million. The partnership aims to advance transformative cancer treatments, including the BOT/BAL regimen.
FAQ
What is the current stock price of Ligand Pharma (LGND)?
What is the market cap of Ligand Pharma (LGND)?
