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 company that regularly issues news about its royalty portfolio, technology platforms and capital deployment. The company describes its model as enabling the clinical development of high‑value medicines by providing financing, licensing its technologies, or both, and this approach is reflected in its press releases and investor communications.
News about Ligand often covers financial results and guidance, including updates on total core revenue, royalty revenue, Captisol sales, contract revenue and non‑GAAP measures such as core adjusted earnings per diluted share. The company’s announcements highlight how royalty revenue from partnered products such as Filspari, Ohtuvayre, Capvaxive, Qarziba and Zelsuvmi contributes to its outlook, as well as how deployable capital and new royalty investments are expected to influence long‑term royalty receipts.
Investors following LGND news will also see updates on Ligand’s technology platforms and partner programs. Releases describe Captisol‑enabled approvals like Lasix ONYU, developments in programs such as Qtorin rapamycin, and clinical or regulatory milestones reported by partners that may affect Ligand’s royalty streams. In addition, the company reports on financing transactions, including convertible senior notes offerings and amendments to its credit agreement, which provide context on how Ligand funds royalty acquisitions and other strategic investments.
Corporate events such as Investor Day presentations and participation in healthcare and biopharma conferences are another recurring theme in Ligand’s news flow. These events typically feature discussions of strategy, investment activity, the royalty portfolio and long‑term financial outlook. For investors and observers, the LGND news page offers a centralized view of how Ligand’s royalty‑focused business model, technology licensing and capital allocation decisions evolve over time.
Ligand Pharmaceuticals (NASDAQ: LGND) will host an Investor and Analyst Day on December 13, 2022, from 11:00 a.m. to 12:30 p.m. Eastern time in New York. The event will feature key executives including CEO John Higgins and CFO Tavo Espinoza. Topics will cover Ligand's business model, financial outlook, and technology platforms. A live webcast will also be available. Ligand is focused on developing technologies to support pharmaceutical companies, leveraging a diversified portfolio to reduce risks and enhance shareholder value.
Ligand Pharmaceuticals (LGND) reported $66.1 million in Q3 2022 revenue, a slight increase from $64.8 million a year prior. Royalty revenue rose 27% to $19.8 million, driven by Kyprolis, Rylaze, and Teriparatide. However, net income fell to $0.4 million ($0.02 per share) from $13.7 million ($0.80 per share) year-over-year. The company increased its 2022 revenue guidance to $184-$189 million, up from $133-$146 million. A significant focus is on the recent spin-off of the OmniAb business, which will impact future reporting. Ligand's cash reserves totaled $121.4 million as of September 30, 2022.
Ligand Pharmaceuticals has completed the spin-off of its OmniAb antibody discovery business, now known as OmniAb, Inc., which will begin trading on NASDAQ under the symbol 'OABI' from November 2, 2022. Ligand continues under the ticker 'LGND'. CEO John Higgins emphasized Ligand's focus on financial growth and highlighted a diversified portfolio of royalty revenues and late-stage programs. Executive updates include Matt Korenberg promoted to President and COO, Tavo Espinoza as CFO, and Andrew Reardon as Chief Legal Officer. Ligand will relocate its headquarters to Las Vegas, Nevada.
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
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