8-K
filed February 22, 2023, 6:59 PM ET
ticker LGND
CIK 0000886163
earnings
confidence high
sentiment neutral
materiality 0.65
Ligand Q4 revenue $50.4M, net loss $14.5M; raises 2023 guidance on royalties and EPS
LIGAND PHARMACEUTICALS INC
2022-FY EPS reported
-$1.98
revenue$196,245,000
- Q4 total revenues $50.4M (down 11% YoY); royalties $22.0M (up 25% YoY); net loss from continuing ops $14.5M ($0.86 per share).
- Full year 2022 total revenues $196.2M (down 19% YoY); adjusted net income $82.2M ($4.79 per diluted share) vs $108.0M ($6.27) in 2021.
- 2023 guidance raised: royalties $74-78M (prev $72-76M), total revenue $120-124M, adjusted diluted EPS $3.30-3.45 (prev $3.10-3.30).
- Travere's FILSPARI received FDA accelerated approval for IgA nephropathy; Verona positive Phase 3 for ensifentrine in COPD.
- OmniAb spin-out completed Nov 1, 2022; cash and investments $211.9M at year-end.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
LIGAND PHARMACEUTICALS INC reported the fourth quarter of 2022 results: revenue $50.4 million, net income $14.5 million net loss, EPS $0.86 per share. Guidance raised.
- Period
- the fourth quarter of 2022
- Revenue
- $50.4 million
- Net income
- $14.5 million net loss
- EPS
- $0.86 per share
- Guidance
- raised
- Result
- reported results
Exact text from the filing
Total revenues for the fourth quarter of 2022 were $50.4 million, compared with $56.4 million for the same period in 2021. Royalties for the fourth quarter of 2022 were $22.0 million, compared with $17.6 million for the same period in 2021, with the increase primarily attributable to the growth in sales of drugs using the Pelican platform. Core Captisol sales were $3.3 million for the fourth quarter of 2022, compared with $7.1 million for the same period in 2021. The difference in sales was due to the timing of customer orders. Captisol sales related to COVID-19 were $23.5 million for the fourth quarter of 2022, compared with $28.3 million for the same period in 2021. Contract revenue was $1.5 million for the fourth quarter of 2022, compared with $3.5 million for the same period in 2021. The difference was due to the timing of partner milestone events. Cost of Captisol was $21.6 million for the fourth quarter of 2022, compared with $12.0 million for the same period in 2021, with the in
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
LIGAND PHARMACEUTICALS INC reported 2022 results: revenue $196.2 million, net income $5.2 million net loss, EPS $0.31 per share. Guidance raised.
- Period
- 2022
- Revenue
- $196.2 million
- Net income
- $5.2 million net loss
- EPS
- $0.31 per share
- Guidance
- raised
- Result
- reported results
Exact text from the filing
Total revenues for 2022 were $196.2 million, compared with $241.5 million for 2021. Royalties for 2022 were $72.5 million, compared with $48.9 million for 2021, with the increase primarily attributable to the growth in sales of drugs using the Pelican platform. Core Captisol sales were $16.4 million for 2022, compared with $23.4 million for 2021. The difference in sales was due to the timing of customer orders. Captisol sales related to COVID-19 were $88.1 million for 2022, compared with $140.8 million for 2021. The lower sales are due to reduced demand for the pandemic-related treatment. Contract revenue for 2022 was $19.2 million, compared with $28.4 million for 2021, with the change due to the timing of partner milestone events. Cost of Captisol was $52.8 million for 2022, compared with $62.2 million for 2021, with the decrease due primarily to lower sales of Captisol, partially offset by $9.8 million in accelerated depreciation on Captisol manufacturing equipment during the year. A
View on SEC.gov
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