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 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.
Ligand Pharmaceuticals has entered a merger agreement with Avista Public Acquisition Corp. II. This transaction involves a spin-off of OmniAb, Ligand's antibody discovery business, into an independent public company. Shareholders of Ligand will receive 100% of OmniAb shares in a tax-free distribution. The deal includes a $115 million investment from Avista, alongside Ligand's $15 million contribution, valuing the combined company at $850 million. The transaction is expected to close in the second half of 2022, subject to regulatory approvals.
Ligand Pharmaceuticals (NASDAQ: LGND) reported strong financial results for Q4 and the full year 2021, with total revenues of $72.5 million in Q4, up from $70.0 million in 2020, and $277.1 million for the year, a significant increase from $186.4 million in 2020. Royalties rose to $17.6 million in Q4, largely due to the Pelican platform. However, net income for Q4 was a loss of $5.0 million compared to a profit of $5.8 million the previous year. Ligand plans to spin off its OmniAb business, expected to generate substantial growth, and provided guidance for 2022 revenues of $147 million to $172 million.
