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.
Landing AI has signed a software licensing agreement with Ligand Pharmaceuticals (NASDAQ: LGND) to integrate LandingLens into Ligand's OmniAb and xPloration antibody discovery platforms. This AI-driven technology enhances high-throughput B cell screening accuracy, potentially accelerating antibody yield production. Both companies emphasize creating accurate datasets for continuous AI system improvement. Ligand aims to leverage this partnership to strengthen its pharmaceutical technology and improve drug discovery efficiencies.
Ligand Pharmaceuticals (NASDAQ: LGND) announces that Jazz Pharmaceuticals (NASDAQ: JAZZ) has launched Rylaze™ (asparaginase erwinia chrysanthemi), approved by the FDA on June 30, 2021. This drug offers a therapeutic option for patients with acute lymphoblastic leukemia or lymphoblastic lymphoma who are hypersensitive to E. coli-derived asparaginase. Ligand received $2 million upon the FDA's review and will earn $5 million at the first commercial sale, plus up to $155.5 million in milestone payments and royalties based on global sales, demonstrating a strong partnership with Jazz Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ: LGND) announced that its partner Merck received FDA approval for VAXNEUVANCETM (V114), a 15-valent pneumococcal vaccine for adults. This approval triggers a $2 million milestone payment to Ligand, along with a low-single-digit royalty on future sales. Merck intends to submit an application for pediatric use later this year. The vaccine utilizes Ligand's CRM197 protein produced by Pelican Expression Technology™, a robust platform for recombinant protein production.
Ligand Pharmaceuticals (NASDAQ: LGND) will announce its financial results for Q2 2021 on July 29, 2021, after market close. A conference call will follow at 4:30 PM ET, featuring CEO John Higgins and other executives. Ligand generates revenue through its innovative drug discovery technologies, which include the OmniAb® platform for antibody development and Captisol® for drug solubility. The company collaborates with major pharmaceutical firms to enhance its offerings, aiming to deliver lower-risk investment opportunities in biotech.
Ligand Pharmaceuticals has appointed Jennifer Cochran, Ph.D., Professor at Stanford University, to its Board of Directors. Dr. Cochran brings extensive experience in bioengineering and entrepreneurial leadership, previously co-founding xCella Biosciences. Her background includes over 50 patents and significant contributions to drug discovery, notably with molecules in Phase 3 trials for ovarian cancer. Chairman John Kozarich highlighted Dr. Cochran's potential to enhance Ligand's investment in the OmniAb technology stack.
Ligand Pharmaceuticals (NASDAQ: LGND) reported strong first-quarter results for 2021, with total revenues of $55.2 million, up from $33.2 million year-over-year. The company anticipates 2021 to be its highest revenue year, projecting approximately $291 million in total revenues. Net income reached $18.1 million or $1.05 per diluted share, a significant turnaround from a net loss of $24.1 million in Q1 2020. Major contributors include increased sales of Captisol for remdesivir and successful acquisitions. Adjusted earnings per share are forecasted at $6.15.
Ligand Pharmaceuticals (NASDAQ: LGND) will announce its financial results for the first quarter of 2021 on May 3, 2021, following the close of U.S. markets. A conference call will occur at 4:30 p.m. ET to discuss these results and provide business updates, featuring CEO John Higgins, President Matt Foehr, and CFO Matt Korenberg. Ligand operates on a revenue-generating model, focusing on drug discovery and development technologies, partnering with major pharmaceutical companies to optimize medication development.
Ligand Pharmaceuticals (NASDAQ: LGND) reported strong financial results for 2020, with total revenues of $186.4 million, up from $120.3 million in 2019. The fourth quarter saw revenues of $70 million, primarily driven by a surge in Captisol sales, which reached $41 million. Net income improved to $5.8 million, or $0.35 per diluted share, compared to a loss of $7.4 million in Q4 2019. Ligand raised its 2021 guidance, anticipating revenues of approximately $291 million and adjusted EPS of $6.15, benefiting from positive developments in its partner programs.
Ligand Pharmaceuticals (NASDAQ: LGND) announced a significant milestone in partnership with Travere Therapeutics regarding the pivotal Phase 3 DUPLEX Study of sparsentan for treating focal segmental glomerulosclerosis (FSGS). The interim results show that 42% of patients on sparsentan achieved the pre-specified endpoint of partial remission of proteinuria after 36 weeks, compared to 26% on irbesartan (p=0.0094). Ligand will receive $5.9 million upon NDA submission and 9% royalties on future sales. The study continues, with top-line results expected in the first half of 2023.
Ligand Pharmaceuticals (LGND) will announce its fourth quarter 2020 financial results on February 3, 2021. CEO John Higgins, President and COO Matt Foehr, and Executive Vice President and CFO Matt Korenberg will lead the conference call at 8:30 a.m. ET (5:30 a.m. PT). The call will provide insights into the company's financial performance and business updates. Investors can join the call via phone or through a live webcast at www.ligand.com.
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