Ligand Q3 adjusted EPS $1.02, revenue $32.9M; raises 2023 guidance; invests $75M+

LIGAND PHARMACEUTICALS INC

2023-Q3 EPS reported $1.91 revenue$103,213,000

Q3 total revenue $32.9M; ex-COVID revenue $26.9M vs $26.9M prior year. Net loss $0.74 GAAP per share.
Adjusted net income $18.0M ($1.02 diluted EPS) vs $10.5M ($0.60) YoY; 2023 adjusted EPS guidance raised to $5.25-$5.40.
Royalties $23.9M (+24% YoY) led by Kyprolis, Rylaze, Vaxneuvance, Filspari. Core Captisol $8.6M vs $3.6M.
Invested over $75M in Q3/early Q4: $30M in Ovid soticlestat royalty, $20M for Tolerance/TZIELD royalty, $12.2M Novan purchase, $15M Primrose Bio.
New $75M revolving credit facility with Citibank; cash & investments $190.5M at Sept 30. Revenue guidance raised to $126-$129M.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

LIGAND PHARMACEUTICALS INC updated its three and nine months ended September 30, 2023 guidance (raised).

Period: three and nine months ended September 30, 2023
Guidance: raised
Result: reported results

Exact text from the filing

On November 8, 2023, Ligand Pharmaceuticals Incorporated (the “Company”) issued a press release announcing its financial results for the three and nine months ended September 30, 2023.

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Source: SEC EDGAR

accession 0000886163-23-000083

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