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 (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.
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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.
Ligand Pharmaceuticals (NASDAQ: LGND) announced that its partner, Gloria Biosciences, has received approval from the National Medical Products Administration (NMPA) in China for zimberelimab (GLS-010), an anti-PD-1 monoclonal antibody, for treating recurrent or refractory classical Hodgkin's lymphoma (cHL). This marks the first regulatory approval for an OmniAb-derived antibody and follows promising clinical data, including a 90.6% overall response rate in a Phase 2 study. Ligand is entitled to royalties on future sales of zimberelimab, enhancing its revenue potential.
Ligand Pharmaceuticals (NASDAQ: LGND) announced positive interim results from the pivotal Phase 3 PROTECT Study of sparsentan, a treatment for IgA nephropathy (IgAN). The study showed a statistically significant reduction in proteinuria after 36 weeks, with sparsentan achieving a 49.8% mean decrease compared to 15.1% for irbesartan (p<0.0001). Ligand is set to receive a $5.9 million milestone upon NDA submission by Travere, the partner company. Sparsentan's promising data could lead to accelerated approval in the U.S. and conditional marketing authorization in Europe.
Ligand Pharmaceuticals (NASDAQ: LGND) reported strong Q2 2021 financial results, with total revenues of $84.7 million, up from $41.4 million year-over-year. Key contributors included $62.5 million in Captisol sales, mainly for remdesivir, and contract revenue of $13.6 million. Net income rose to $30.7 million ($1.79 per diluted share), aided by a $34.1 million non-cash valuation adjustment. However, the company lowered full-year revenue guidance to $265-$275 million due to reduced Captisol demand. Ligand anticipates multiple regulatory drug approvals this year, enhancing revenue streams in 2022 and beyond.
