Ligand Q3 revenue $66.1M (+2% YoY); raises 2022 guidance; completes OmniAb spin-off

LIGAND PHARMACEUTICALS INC

2022-Q3 EPS reported -$0.94 revenue$169,200,000

Q3 GAAP net income $0.4M ($0.02 EPS) vs $13.7M ($0.80) YoY; adjusted EPS $1.31 vs $1.58.
Q3 royalty revenue up 27% to $19.8M on Kyprolis, Rylaze, Teriparatide; total revenue $66.1M.
2022 guidance raised: total revenue $184-189M (prior $133-146M); adjusted EPS $4.30-$4.45.
Completed tax-free spin-off of OmniAb on Nov 1; OmniAb began trading as OABI on Nov 2.
Repurchased $38.6M principal of 2023 Notes for $37.7M; cash & investments $121.4M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LIGAND PHARMACEUTICALS INC updated its the three and nine months ended September 30, 2022 guidance (raised).

Period: the three and nine months ended September 30, 2022
Guidance: raised
Result: reported results

Exact text from the filing

On November 7, 2022, Ligand Pharmaceuticals Incorporated (the “Company”) issued a press release announcing its financial results for the three and nine months ended September 30, 2022.

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Source: SEC EDGAR

accession 0000886163-22-000133

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