Key Developments: Ligand Pharmaceuticals Inc (LGND.OQ)
49.02USD
1 Aug 2013
$1.64 (+3.46%)
$47.38
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Latest Key Developments (Source: Significant Developments)
Ligand Pharmaceuticals Inc Reaffirms FY 2013 Guidance; Issues Q3 2013 Guidance; EPS Guidance Below Analysts' Estimates
Ligand Pharmaceuticals Inc announced that it is affirming its previous fiscal 2013 financial forecast, the Company expects total revenues to be between $43.0 million and $46.0 million, and non-GAAP earnings per diluted share to be between $0.47 and $0.51. For the third quarter of 2013, Ligand expects revenues to be between $10 million and $11 million and non-GAAP earnings per diluted share to be between $0.04 and $0.06. Earnings per diluted share guidance does not include the effects of any increase or decrease in contingent liabilities. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $45.6 million for fiscal 2013; and revenue of $10 million and EPS of $0.09 for the third quarter of 2013. Full Article
The Law Firm Of Levi & Korsinsky, LLP Launches An Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Directors Of Ligand Pharmaceuticals Inc
Levi & Korsinsky, LLP announced that it is investigating Ligand Pharmaceuticals Inc and its Board of Directors, in connection with possible claims of breaches of fiduciary duty. Full Article
Ligand Pharmaceuticals Inc Partner Rib-X Pharmaceuticals, Inc Initiates Phase 3 Trial Of Captisol-Enabled Delafloxacin IV
Ligand Pharmaceuticals Inc announced that its partner Rib-X Pharmaceuticals, Inc. has initiated a Phase 3 clinical trial of a Captisol-enabled intravenous (IV) formulation of delafloxacin for the first-line treatment of acute bacterial skin and skin structure infections (ABSSSI), including infections caused by MRSA. Under the terms of a license and supply agreement, Ligand has earned a $500,000 milestone payment. Full Article
Ligand Pharmaceuticals Inc Reaffirms FY 2013 Guidance; Issues Q2 2013 Guidance In Line With Analysts' Estimates
Ligand Pharmaceuticals Inc announced that it is affirming its previous 2013 financial forecast and expects total revenues to be between $43 million and $46 million, and earnings per diluted share to be between $0.47 and $0.51. For the second quarter of 2013, it expects revenues to be between $9.0 million and $9.5 million, and earnings per diluted share to be between $0.03 and $0.05. Earnings per share guidance does not include the effects of any increase or decrease in contingent liabilities. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $45 million and EPS of $0.46 for fiscal 2013; revenues of $9.10 million and EPS of $0.04 for the second quarter of 2013. Full Article
Ligand Pharmaceuticals Inc Announces Co-promotion And Collaboration Agreement With Hovione
Ligand Pharmaceuticals Inc announced co-promotion and collaboration agreement with Hovione, to provide Hovione's customers efficient access to Captisol technology. The agreement allows Hovione to use Captisol technology in solubilization programs, which include amorphous solid dispersions, crystal design and size reduction and control of particle size. Full Article
Ligand Pharmaceuticals Inc Signs Global License Agreement With Spectrum Pharmaceuticals For Captisol-Enabled Melphalan
Ligand Pharmaceuticals Inc announced the signing of global license and supply agreements with Spectrum Pharmaceuticals, Inc. for the development and commercialization of Ligand's Captisol-enabled, propylene glycol-free (PG-free) melphalan. Under the terms of the license agreement, Ligand is entitled to receive a license fee and is eligible to receive more than $50 million in potential payments. Ligand is also eligible to receive royalties on future net sales of Captisol-enabled melphalan. Spectrum will immediately assume all development of the program as a result of this license. Full Article
Ligand Pharmaceuticals Inc Issues FY 2013 Guidance In Line With Analysts' Estimates
Ligand Pharmaceuticals Inc announced that for fiscal 2013, it expects total revenues to be in the range of $41 million to $44 million and net income per share (EPS) to be in the range of $0.35 to $0.39. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $43 million and EPS of $0.39 for fiscal 2013. Full Article
Ligand Pharmaceuticals Inc Initiates Pivotal Trial Of Captisol-Enabled, Propylene Glycol-Free Melphalan In Patients With Multiple Myeloma
Ligand Pharmaceuticals Inc announced that it has initiated a pivotal trial of Captisol-enabled , propylene glycol-free (PG-free) high-dose melphalan as a conditioning treatment prior to autologous transplant for patients with multiple myeloma. This multi-center trial will evaluate safety and efficacy in 60 patients, and is intended to confirm the results from an earlier Phase 2 study demonstrating that the PG-free melphalan intravenous formulation was safe and well-tolerated, and met the requirements for establishment of bioequivalence to the current commercial intravenous formulation of melphalan (sold by GlaxoSmithKline as Alkeran for Injection). Full Article
Ligand Pharmaceuticals Inc Announces Positive Preclinical Data On HepDirect Liver-Targeted Antiviral For Treatment Of Hepatitis
Ligand Pharmaceuticals Inc announced that data from preclinical studies evaluating LG-7501 were featured in a poster presentation at the 63rd Annual Meeting of the American Association for the Study of Liver Diseases in Boston. Ligand is developing novel small molecule inhibitors of NS5B polymerase for the treatment of hepatitis C virus infection (HCV) using its HepDirect liver-targeting technology platform. LG-7501 is a HepDirect prodrug designed for increased liver targeting, potentially improving clinical efficacy and safety. In preclinical studies, Ligand evaluated the pharmacokinetics and liver targeting of LG-7501. LG-7501 is a HepDirect prodrug of 2`-C methylguanosine, a clinically validated NS5B polymerase inhibitor. HepDirect liver targeting of 2`-C methylguanosine and other active nucleosides may be an effective method to improve efficacy while reducing systemic side effects in HCV treatment. LG-7501 efficiently targeted the liver with reduced systemic distribution in preclinical models, providing proof-of-concept with a clinically validated HCV treatment. The key findings include: LG-7501 has good oral bioavailability in two species. LG-7501 is rapidly metabolized to the active drug. LG-7501 converts to the active drug in the liver, resulting in greatly increased liver concentrations of the active drug while greatly reducing systemic distribution. Full Article
Ligand Pharmaceuticals Inc Raises FY 2012 Revenue Guidance-Conference Call
Ligand Pharmaceuticals Inc announced that for fiscal 2012, it expects revenues of approximately $30 million to $31 million compared to previous guidance of $30 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $30.35 million for fiscal 2012. Full Article

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