Welcome to our dedicated page for Ligand Pharmaceuticals news (Ticker: LGND), a resource for investors and traders seeking the latest updates and insights on Ligand Pharmaceuticals stock.
Ligand Pharmaceuticals Inc. (symbol: LGND) is a prominent biopharmaceutical company committed to advancing healthcare through innovative technologies and strategic partnerships. The company focuses on developing and acquiring assets that support the creation and commercialization of medicine. Ligand operates with a streamlined cost structure to maximize cash flow and enhance shareholder returns.
The company’s revenue is derived from three primary sources: royalties from commercialized products, license and milestone payments, and the sale of its proprietary Captisol material. Captisol is a chemically modified cyclodextrin that enhances the solubility and stability of drugs.
Ligand has a diverse portfolio of commercial and near-term revenue-generating assets. Its business model includes drug discovery, early-stage drug development, product reformulation, and alliances with other pharmaceutical and biotechnology companies. These partnerships and license agreements are crucial for the company’s long-term financial growth.
Recently, Ligand has made significant strides in its ongoing projects and collaborations. The company continues to build a robust pipeline with an emphasis on innovation and operational efficiency. Investors and stakeholders can expect regular updates on the company’s performance, new agreements, and advancements in drug development.
With a commitment to delivering meaningful returns and improving global health outcomes, Ligand Pharmaceuticals remains a key player in the biopharmaceutical industry. Stay informed about the latest news and developments by following Ligand's journey and updates.
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.
Ligand Pharmaceuticals (NASDAQ: LGND) will announce its fourth quarter 2021 financial results on February 17, 2022, after U.S. market close. A conference call led by CEO John Higgins and other executives will follow at 4:30 p.m. Eastern Time. The call aims to discuss financial results and provide business updates. Interested stakeholders can join the call by dialing (833) 540-1167 in the U.S. and (929) 517-0358 internationally, with conference ID 4832757. A webcast will also be available for live and replay access.
Ligand Pharmaceuticals (NASDAQ: LGND) announced the approval of its partner CStone Pharmaceuticals' drug, sugemalimab (Cejemly®), by China’s National Medical Products Administration (NMPA). This monoclonal antibody is now authorized for treating first-line metastatic non-small cell lung cancer (NSCLC) in combination with chemotherapy. Previous studies, including the Phase 3 GEMSTONE trials, demonstrated significant increases in progression-free survival (PFS) and overall survival (OS) compared to prior treatments. This approval marks a critical achievement for Ligand's OmniAb platform.
Ligand Pharmaceuticals (NASDAQ: LGND) announced an expansion of its collaboration with GlaxoSmithKline (GSK), leveraging Icagen's ion-channel discovery technology for neurological diseases.
Ligand will receive an upfront payment of
The deal includes commercial milestone payments of up to
Ligand Pharmaceuticals (NASDAQ: LGND) reported strong Q3 2021 results with total revenues of $64.8 million, a significant increase from $41.8 million in Q3 2020. Royalties rose to $15.6 million, up from $9.0 million, driven by products like Kyprolis and Evomela. Captisol sales surged to $35.1 million, primarily due to COVID-19 treatment demand. Net income was $13.7 million or $0.80 per share compared to a loss of $6.7 million in the same quarter last year. Ligand is also planning a split into two distinct companies to enhance focus on its OmniAb platform and royalty business, aiming for continued growth.
Ligand Pharmaceuticals (NASDAQ: LGND) has announced plans to separate into two publicly traded companies: one focused on the OmniAb business and another on core royalties and technologies. This move aims to enhance operational focus and attract investment. CEO John Higgins highlighted a successful year for OmniAb, marked by regulatory approvals of its derived antibodies. An IPO for OmniAb shares is under consideration, potentially distributing less than 20% to shareholders in a tax-efficient manner. However, no specific course of action has been approved by the board yet.
Ligand Pharmaceuticals (NASDAQ: LGND) will announce its financial results for the three and nine months ending September 30, 2021 on November 9, 2021, after market close. A conference call will be held on the same day at 4:30 p.m. Eastern time, featuring CEO John Higgins, President and COO Matt Foehr, and Executive VP and CFO Matt Korenberg. Ligand focuses on drug discovery and partnerships to create revenue streams, leveraging patented technologies like OmniAb® and Captisol®.
Ligand Pharmaceuticals (NASDAQ: LGND) announced a collaboration with China Resources Double-Crane Pharmaceutical (CRDC) to develop a novel oral COVID-19 antiviral using Ligand's BEPro technology. Ligand will receive an upfront payment, potential clinical milestone payments, and tiered royalties on net sales, while CRDC bears all program costs. The BEPro technology is patented and aims to improve the pharmacokinetics of antiviral compounds, showing favorable profiles in preclinical studies. The deal signals a continued effort to monetize Ligand's innovations, enhancing shareholder value.
FAQ
What is the current stock price of Ligand Pharmaceuticals (LGND)?
What is the market cap of Ligand Pharmaceuticals (LGND)?
What does Ligand Pharmaceuticals Inc. do?
What are the primary sources of revenue for Ligand?
What is Captisol?
How does Ligand aim to maximize shareholder returns?
What is Ligand’s business model?
Who are Ligand’s partners?
What recent achievements has Ligand made?
How does Ligand maintain its operations cost-effectively?
What can investors expect from Ligand in the future?
How can I stay informed about Ligand's latest news?
