secwatch.observer — SEC 8-K summary
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Issuer:     LIGAND PHARMACEUTICALS INC (LGND)
CIK:        0000886163
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0000886163-23-000083
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/886163/000088616323000083/0000886163-23-000083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/886163/000088616323000083/lgnd-20231108.htm
  HTML page:      https://secwatch.observer/filing/0000886163-23-000083

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