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) announced a $1.5 million milestone payment from Merck following the FDA's acceptance of the biologics license application for V114, a 15-valent pneumococcal conjugate vaccine. CEO John Higgins highlighted this collaboration as vital to Ligand's acquisition of Pfenex. Should V114 launch commercially, Ligand stands to earn low-single-digit royalties on net sales. Additionally, Ligand's Protein Expression Technology platform plays a key role in the vaccine's development, showing the company's capacity in biopharmaceutical production.
Ligand Pharmaceuticals (NASDAQ: LGND) has announced a collaboration with GlaxoSmithKline (GSK) via its subsidiary Icagen, focusing on small molecule therapeutics aimed at neurological diseases. The partnership will use Icagen's technology for drug discovery, with Ligand receiving an upfront payment of $7 million and potential milestone payments totaling up to $154.5 million. Ligand will handle preclinical activities while GSK will manage further development and commercialization. This agreement aligns with Ligand's strategy to collaborate with industry leaders for drug discovery.
Ligand Pharmaceuticals (NASDAQ: LGND) announced significant clinical and regulatory advancements through its OmniAb® platform. Two major pharmaceutical partners achieved key milestones, collectively generating $4.5 million in milestone payments for Ligand. Additionally, CStone Pharmaceuticals' New Drug Application for sugemalimab, an OmniAb-derived antibody for lung cancer, has been accepted for review by China's regulatory authority. Notably, positive interim results from a Phase 3 trial highlighted the efficacy of combining sugemalimab with chemotherapy in treating advanced NSCLC, presenting a promising growth potential for Ligand's revenue.
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.
