Ligand Q2 adjusted EPS $1.42 beats; raises FY2023 adjusted EPS outlook to $4.85-$5.00

LIGAND PHARMACEUTICALS INC

2023-Q2 EPS reported $2.48 revenue$70,345,000

Q2 adjusted net income from continuing ops $25.1M ($1.42 diluted) vs $7.4M ($0.43) prior year; GAAP EPS $0.13.
Royalties grew 15% to $20.4M; core Captisol sales $5.2M vs $3.3M. No COVID-19 Captisol sales vs $26.2M.
Cash $219M; debt-free after May 2023 convertible note payoff. $50M share repurchase program authorized.
FY2023 guidance: revenue $124-128M (reaffirmed); adjusted EPS raised to $4.85-$5.00 from $4.60-$4.75.
Agreed to purchase Novan assets for $15M cash plus DIP financing; Berdazimer gel NDA PDUFA Jan 5, 2024.

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 reported the six months ended June 30, 2023 results: revenue Total revenues for the six months ended June 30, 2023 were $70.3 million., net income Net income from continuing operations for the six months ended June 30, 2023 was $45.9 million, or $2.57 per diluted sha, EPS $2.57 per diluted share. Guidance reaffirmed.

Period: the six months ended June 30, 2023
Revenue: Total revenues for the six months ended June 30, 2023 were $70.3 million.
Net income: Net income from continuing operations for the six months ended June 30, 2023 was $45.9 million, or $2.57 per diluted sha
EPS: $2.57 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Ligand Pharmaceuticals Incorporated (the “Company”) issued a press release announcing its financial results for the three and six months ended June 30, 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LIGAND PHARMACEUTICALS INC reported the three and six months ended June 30, 2023 results: revenue Total revenues for the second quarter of 2023 were $26.4 million., net income Net income from continuing operations for the second quarter of 2023 was $2.3 million, or $0.13 per diluted share, EPS $0.13 per diluted share. Guidance reaffirmed.

Period: the three and six months ended June 30, 2023
Revenue: Total revenues for the second quarter of 2023 were $26.4 million.
Net income: Net income from continuing operations for the second quarter of 2023 was $2.3 million, or $0.13 per diluted share
EPS: $0.13 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Ligand Pharmaceuticals Incorporated (the “Company”) issued a press release announcing its financial results for the three and six months ended June 30, 2023.

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Source: SEC EDGAR

accession 0000886163-23-000047

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