Ligand Pharma - LGND STOCK NEWS

Ligand Pharmaceuticals has offered to acquire the assets of Novan for $15 million in cash and provide up to $15 million in debtor-in-possession financing. The transaction aims to preserve the value of Novan's business and berdazimer gel development assets. Ligand plans to out license or sell Novan's existing programs and commercial assets if the bid is successful. The proposed transaction is subject to court approval and is expected to close in Q3 2023.

Ligand Pharmaceuticals (NASDAQ: LGND) will report its first quarter 2023 financial results after the U.S. financial markets close on May 4, 2023. A conference call is scheduled for 4:30 p.m. Eastern Time on the same day, featuring CEO Todd Davis, President Matt Korenberg, and CFO Tavo Espinoza. The call will provide insights into financial performance and general business updates.

Ligand's business model focuses on supporting mid to late-stage drug development through financing and licensing of its platform technologies, such as Captisol and Pelican. The company collaborates with leading pharmaceutical firms including Amgen, Merck, and Pfizer to generate revenue while maintaining a low corporate cost structure.

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.