Ligand Q3 adj EPS $1.02 beats, raises 2023 guidance; restates prior net loss per share to ($0.59)

LIGAND PHARMACEUTICALS INC

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

Q3 total revenue $32.9M (down from $59.2M YoY, no COVID-19 sales); adjusted EPS $1.02 vs $0.60 YoY.
Raised 2023 revenue guidance to $126-129M (from $124-126M) and adjusted EPS to $5.25-5.40 (from $5.10-5.25).
8-K/A correction: $3.2M derivative asset from Pelican divestiture changed sale from ($1.1M) loss to $2.1M gain; net loss per share improved to ($0.59) from ($0.74).
Invested >$75M in Q3/Q4 in Tolerance, Ovid, Novan, Primrose; acquired 13% royalty interest in soticlestat (up to $86M milestones).
Cash and short-term investments $190.5M at Sep 30, 2023; new $75M revolving credit facility with Citibank.

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 three and nine months ended September 30, 2023 results: revenue $32.9 million, net income $10.3 million net loss, EPS $0.59 per share loss. Guidance raised.

Period: three and nine months ended September 30, 2023
Revenue: $32.9 million
Net income: $10.3 million net loss
EPS: $0.59 per share loss
Guidance: raised
Result: reported results

Exact text from the filing

at our upcoming Investor and Analyst Day scheduled for December 12th in New York City.” Third Quarter 2023 Financial Results Total revenues for the third quarter of 2023 were $32.9 million. Revenues for the same period in 2022 excluding sales related to COVID-19 were $26.9 million. Total revenues for the third quarter of 2022 including COVID-19 related sales were

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Source: SEC EDGAR

accession 0000886163-23-000089

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