Ligand Q2 revenue rises 57% to $41.5M; GAAP net loss $51.9M on $33.8M Primrose Bio writedown

LIGAND PHARMACEUTICALS INC

2024-Q2 EPS reported $1.87 revenue$72,509,000

Total revenue $41.5M (+57% YoY); royalties $23.2M (+11%); Captisol $7.5M (+44%).
GAAP net loss from continuing ops $51.9M ($2.88/sh) vs income $2.3M ($0.13) YoY; adjusted net income $25.8M ($1.40).
Core adjusted net income $25.8M vs $11.7M YoY, excluding Viking stock sales and non-cash impairments.
2024 guidance reaffirmed: royalties $100-105M, total revenue $140-157M, core adj. EPS $5.00-$5.50.
Completed $100M APEIRON Biologics acquisition (July 8); credit facility expanded to $125M.

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