Highest-materiality recent filing
Ligand Q1 royalty revenue +56% to $43M; reaffirms raised guidance amid XOMA acquisition
Q1 royalty revenue $43.0M (+56% YoY); total revenue $51.7M (+14%).
Ligand terminates TR-Beta license with Viking over alleged material breach; Viking disputes
Termination of TR-Beta Program (including VK2809 and VK0214) effective May 4, 2026.
Ligand to acquire XOMA Royalty for $39/share cash plus CVR from Janssen litigation
Cash consideration of $39.00 per XOMA Royalty share plus CVRs representing 75% of net proceeds from Janssen litigation.
Ligand Q4 revenue $59.7M (+39% YoY), adjusted EPS $2.02 beats; FY25 core adj. EPS $8.13, +42%
Q4 GAAP net income $44.8M ($2.12 diluted EPS) vs loss of $31.1M in Q4 2024.
Ligand Q3 revenue $115.5M, net income $117.3M; raises FY guidance
Q3 royalties $46.6M, up 47% YoY, driven by Filspari, Ohtuvayre, Qarziba.
Ligand closes $460M 0.75% convertible notes due 2030; net proceeds $445.1M
Issued $460M aggregate principal of 0.75% convertible senior notes due Oct 1, 2030, including $60M greenshoe exercised.
Ligand proposes $400M convertible notes due 2030; up to $60M greenshoe
Offering $400M aggregate principal amount of convertible senior notes due Oct 1, 2030 to QIBs.
Q2 revenue $47.6M (+15% YoY); royalties $36.4M (+57%) driven by Qarziba and Filspari.
Ligand completes merger with Channel Therapeutics; Pelthos starts trading July 2 under PTHS
Ligand subsidiary merges with Channel; combined company renamed Pelthos Therapeutics, trading on NYSE American as PTHS.
Ligand Q1 revenue up 46% to $45.3M; core adjusted EPS $1.33; reaffirms FY guidance
Total revenues $45.3M (+46% YoY), royalties $27.5M (+44%), Captisol $13.5M (+47%).
Ligand subsidiary Pelthos to merge with Channel Therapeutics; $50M capital raise
Channel to acquire 100% of Pelthos; combined company renamed Pelthos Therapeutics, listing as PTHS on NYSE American.
Ligand Q4 revenue up 52% to $42.8M; core adj EPS $1.27; reaffirms 2025 guidance
Q4 total rev $42.8M (+52% YoY); royalties $34.8M (+55%) driven by Qarziba and Filspari.
Ligand leads $75M royalty financing for Castle Creek's D-Fi gene therapy Phase 3 trial
Ligand invested $50M and led syndicate of co-investors totaling $75M for high single-digit royalty on D-Fi worldwide sales.
Ligand Q3 revenue $51.8M (+58% YoY); raises 2024 guidance to $160-165M revenue, $5.50-5.70 adj EPS
Q3 total revenues & other income $51.8M (vs $32.9M); royalties $31.7M (+33% YoY) on QARZIBA and FILSPARI growth.
Ligand Q2 revenue rises 57% to $41.5M; GAAP net loss $51.9M on $33.8M Primrose Bio writedown
Total revenue $41.5M (+57% YoY); royalties $23.2M (+11%); Captisol $7.5M (+44%).
Ligand Pharmaceuticals announces departure of President and COO Matthew Korenberg
Korenberg's employment ends no later than October 31, 2024; he may resign earlier in writing.
Ligand completes acquisition of APEIRON Biologics for $100M cash plus up to $28M contingent
Ligand acquired all outstanding shares of APEIRON for $100M in cash at closing on July 15, 2024.
Ligand acquires APEIRON for $100M, adds QARZIBA royalty; raises 2024 guidance
Acquisition of APEIRON Biologics for $100M cash; up to $28M additional contingent consideration based on QARZIBA royalty thresholds by 2030/2034.
FDA approved Ohtuvayre (ensifentrine) for maintenance treatment of COPD in adults; first novel inhaled mechanism in over 20 years.
Ligand reports Merck vaccine FDA approval milestone and Takeda soticlestat Phase 3 miss
FDA approved Merck's CAPVAXIVE; Ligand earns $2M milestone + royalties on net sales.
Ligand acquires royalty rights on six partnered oncology programs and BOT/BAL from Agenus for $75M
Purchase price of $75M for 18.75% of licensed royalties and 31.875% of milestones on six partnered oncology programs (BMS, Gilead, Incyte, Merck, UroGen).
Q1 total revenue $31.0M vs $44.0M last year; royalties up $19.1M from $17.6M.
Ligand Q4 net income $18.2M ($1.03 diluted); reaffirms 2024 guidance
Q4 total revenue $28.1M (down from $50.4M in Q4 2022, which included $23.5M COVID Captisol sales); core adjusted EPS $1.05 vs $0.75.
On August 2, 2024, Ligand Pharmaceuticals Incorporated (the “Company”) announced that its President and Chief Operating Officer, Matthew Korenberg, will be departing from the Company.
Max materiality 0.90 · Median 0.70 · Most common event earnings