Ligand Pharma Stock Price, News & Analysis

OmniAb, Inc. (NASDAQ: OABI) reported strong financial results for Q4 and full-year 2022, with Q4 revenue of $35.3 million, up from $15.3 million in Q4 2021, driven by a $25 million milestone from TECVAYLI™ sales. Full-year revenue reached $59.1 million, an increase from $34.7 million in 2021. Despite net losses of $22.3 million for 2022, improved from a loss of $27 million in 2021, the company ended the year with $88.3 million in cash. OmniAb also signed 13 new partnerships and has 69 active partners pursuing 291 programs. The company anticipates recognizing $10 million more in milestone payments in 2023, showcasing a robust pipeline and growth potential.

Ligand Pharmaceuticals (NASDAQ: LGND) reported its financial results for Q4 and full-year 2022, noting total revenues of $50.4 million in Q4 compared to $56.4 million in 2021. Royalties increased to $22 million due to Pelican platform sales. However, core Captisol sales dropped to $3.3 million, and net loss from continuing operations was $14.5 million, or $0.86 per share. For 2023, Ligand raised its financial guidance, expecting total revenues of $120 to $124 million and adjusted EPS of $3.30 to $3.45. The company anticipates significant revenue growth while maintaining a lean cost structure following the spin-out of OmniAb, which occurred on November 1, 2022.

Sermonix Pharmaceuticals and Quantum Leap Healthcare Collaborative announced the inclusion of lasofoxifene in a new study arm of the I-SPY 2 clinical trial, targeting patients with newly diagnosed estrogen receptor-positive invasive cancer. This sub-study, part of the Endocrine Optimization Platform, aims to address high recurrence risks in patients with stage 2/3 ER+/HER2- breast cancer. Lasofoxifene has shown promising results in earlier Phase 2 trials, demonstrating safety and anti-tumor activity. The trial's outcomes may provide insights into improving treatment efficacy and quality of life for breast cancer patients.

Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) will report its fourth quarter 2022 financial results after U.S. markets close on February 22, 2023. A conference call will follow at 4:30 p.m. Eastern time, featuring CEO Todd Davis, President Matt Korenberg, and CFO Tavo Espinoza. The call will discuss financial results and provide updates on the business. Interested parties can participate via phone or webcast. Ligand focuses on funding and supporting clinical development through its technology platforms and partnerships with major pharmaceutical companies, creating diversified revenue streams for shareholders.

Ligand Pharmaceuticals (NASDAQ: LGND) announced that its partner Novan, Inc. (NASDAQ: NOVN) has submitted a New Drug Application (NDA) for berdazimer gel, 10.3%, targeting molluscum contagiosum. The FDA approval is anticipated in Q1 2024, pending acceptance of the filing. This gel may become the first FDA-approved treatment for this viral skin infection affecting around 6 million people in the U.S., predominantly children. If approved, Ligand could receive up to $20 million in milestone payments and royalties of 7-10% on future sales.

Ligand Pharmaceuticals (NASDAQ: LGND) held an Investor and Analyst Day to review its business model and growth drivers following the successful spin-off of its OmniAb unit. Management highlighted a diverse partnership portfolio and a robust capital deployment strategy, emphasizing M&A opportunities in current market conditions. Key financial guidance for 2023 includes projected core revenue of $118 million to $122 million and adjusted diluted EPS of $3.10 to $3.30. The company anticipates significant non-dilutive capital from Captisol sales related to COVID-19.

Ligand Pharmaceuticals (NASDAQ: LGND) announces John Higgins is retiring as CEO, effective immediately, with Todd C. Davis appointed as his successor. Higgins will remain on the board until December 31, 2022. Under Higgins' leadership, Ligand transitioned to a royalty-based model, now boasting nearly 150 partnered drugs. Davis, with extensive experience in biopharmaceuticals and a successful track record in royalty transactions, aims to enhance shareholder value and oversee strategic growth. An Investor and Analyst Day is scheduled for December 13, 2022, to discuss future plans.

Ligand Pharmaceuticals (NASDAQ: LGND) will host an Investor and Analyst Day on December 13, 2022, from 11:00 a.m. to 12:30 p.m. Eastern time in New York. The event will feature key executives including CEO John Higgins and CFO Tavo Espinoza. Topics will cover Ligand's business model, financial outlook, and technology platforms. A live webcast will also be available. Ligand is focused on developing technologies to support pharmaceutical companies, leveraging a diversified portfolio to reduce risks and enhance shareholder value.

Ligand Pharmaceuticals (LGND) reported $66.1 million in Q3 2022 revenue, a slight increase from $64.8 million a year prior. Royalty revenue rose 27% to $19.8 million, driven by Kyprolis, Rylaze, and Teriparatide. However, net income fell to $0.4 million ($0.02 per share) from $13.7 million ($0.80 per share) year-over-year. The company increased its 2022 revenue guidance to $184-$189 million, up from $133-$146 million. A significant focus is on the recent spin-off of the OmniAb business, which will impact future reporting. Ligand's cash reserves totaled $121.4 million as of September 30, 2022.