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 completed a tax-free distribution of its subsidiary OmniAb, distributing 4.90007 shares of OmniAb and 0.75842 earnout shares for each share of LGND held by shareholders as of October 26, 2022. Trading of OmniAb shares under the ticker symbol OABI will commence on November 2, 2022. The earnout shares will vest based on specific trading price milestones over five years, linked to share performance above $12.50 and $15.00. Ligand shareholders now own 85% of OmniAb's outstanding shares.
Ligand Pharmaceuticals (NASDAQ: LGND) is set to announce its third quarter 2022 financial results after the U.S. markets close on November 7, 2022. A conference call will occur at 4:30 PM Eastern Time, featuring key executives including CEO John Higgins and CFO Tavo Espinoza. The conference will also provide insights into Ligand's business developments. Investors can join the call via dial-in or through a webcast.
Ligand Pharmaceuticals (NASDAQ: LGND) announced that Janssen Biotech has received FDA approval for TECVAYLI (teclistamab), a bispecific antibody for relapsed or refractory multiple myeloma, utilizing OmniAb technology. Ligand's OmniAb is set to earn a $25 million milestone payment upon TECVAYLI's first commercial sale in the U.S. This marks the first FDA approval of an OmniAb-derived antibody, enhancing Ligand's strategic position in the antibody discovery market. The spin-off of OmniAb from Ligand is on track to close on November 1, 2022.
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.
FAQ
What is the current stock price of Ligand Pharma (LGND)?
What is the market cap of Ligand Pharma (LGND)?
