Partner Verona Pharma gets FDA approval for Ohtuvayre (COPD); Ligand earns $5.8M milestone, $13.8M at launch

LIGAND PHARMACEUTICALS INC

FDA approved Ohtuvayre (ensifentrine) for maintenance treatment of COPD in adults; first novel inhaled mechanism in over 20 years.
Ligand earned a $5.8 million milestone payment; additional $13.8 million due upon commercial launch expected in Q3 2024.
Ligand is entitled to a low single-digit royalty on potential worldwide net sales of Ohtuvayre; COPD market is multi-billion dollar.
Verona Pharma is responsible for commercialization; Ligand relies on Verona for successful launch and sales.
Approval triggers immediate milestone and sets stage for further payments and ongoing royalties.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.