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 announced that shareholders of Avista Public Acquisition Corp. II (APAC) approved the business combination with OmniAb. This vote saw 96% support, with OmniAb expecting about $95 million in net cash post-closure on November 1, 2022. Ligand shareholders will receive shares of OmniAb based on a calculated exchange ratio, estimated at 4.9 shares of New OmniAb per Ligand share. Additionally, earnout shares based on performance metrics over five years will be distributed. Two-way trading for Ligand is set for October 25, 2022, under different Nasdaq symbols.
Ligand Pharmaceuticals (NASDAQ: LGND) announced on October 3, 2022, the granting of non-qualified stock options to two non-executive employees as part of its 2022 Employee Inducement Plan. A total of 10,770 shares were awarded at an exercise price of $87.03, the closing stock price on the grant date. The options will vest over four years, with 12.5% vesting six months post-employment, and the remainder vesting monthly thereafter, subject to continued employment. This plan aligns with NASDAQ Listing Rule 5635(c)(4) facilitating employee recruitment.
Ligand Pharmaceuticals has set October 26, 2022, as the record date for a dividend distribution of OmniAb, Inc. shares to Ligand shareholders, aimed at separating the two companies. The distribution will occur around November 1, 2022, coinciding with the merger of OmniAb and Avista Public Acquisition Corp. II (NASDAQ: AHPA). Ligand's shareholders will receive shares representing 100% of Ligand's interest in OmniAb, with estimates suggesting roughly 4.9 shares of New OmniAb for every Ligand share. Additional earnout shares will also be provided based on trading performance.
Ligand Pharmaceuticals announced that Janssen Biotech received conditional marketing authorization from the European Commission for TECVAYLI (teclistamab), a bispecific antibody for relapsed or refractory multiple myeloma. This marks the first approval of an OmniAb-derived bispecific antibody in Europe. Ligand's OmniAb is set to receive a
Ligand Pharmaceuticals (NASDAQ: LGND) announced the grant of non-qualified stock options for 90,073 shares, 5,000 restricted stock units (RSUs), and 4,000 performance stock units (PSUs) to six non-executive employees, effective August 1, 2022. The options, priced at $89.70, will vest over four years. RSUs will vest over three years, while PSUs depend on performance metrics and the spin-off of OmniAb, Inc. The plan aligns with NASDAQ Listing Rule 5635(c)(4), designed to attract talent by offering equity awards to new hires.
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.