Ligand Q3 revenue $51.8M (+58% YoY); raises 2024 guidance to $160-165M revenue, $5.50-5.70 adj EPS

LIGAND PHARMACEUTICALS INC

2024-Q3 EPS reported $1.46 revenue$124,321,000

Q3 total revenues & other income $51.8M (vs $32.9M); royalties $31.7M (+33% YoY) on QARZIBA and FILSPARI growth.
GAAP net loss from continuing ops $7.2M ($0.39 loss/sh); core adj net income $35.3M ($1.84/sh) vs $18.0M ($1.02).
Raised 2024 guidance: revenue now $160-165M (prev $140-157M); adj EPS $5.50-5.70 (prev $5.00-5.50).
Received $13.5M milestone upon Ohtuvayre commercial launch; cash & investments $219.6M including $63.3M in VKTX stock.
Issued 334,325 shares under ATM at avg $104.70 for gross $35M; up to $65M remains available.

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