Ligand reports Merck vaccine FDA approval milestone and Takeda soticlestat Phase 3 miss

LIGAND PHARMACEUTICALS INC

FDA approved Merck's CAPVAXIVE; Ligand earns $2M milestone + royalties on net sales.
Takeda's soticlestat missed primary endpoints in Dravet (SKYLINE) and Lennox-Gastaut (SKYWAY) Phase 3 trials.
Ligand owns 13% royalty on soticlestat from $30M Ovid deal; clinical miss reduces royalty value.
SKYLINE narrowly missed seizure reduction primary; showed significant secondary endpoint effects.
SKYWAY missed primary endpoint of reduction in major motor drop seizures.

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