Business
Ligand Provides Highlights from its Investor and Analyst Day Event
Executive Management Reviewed Business Model and Growth Drivers Following the Successful Spin-Off of OmniAb, Introduced 2023 Financial Guidance SAN
About this update from Ligand Pharmaceuticals Incorporated
[{"type":"text","content":"\nExecutive Management Reviewed Business Model and Growth Drivers Following the Successful Spin-Off of OmniAb, Introduced 2023 Financial Guidance\n\n SAN DIEGO--(BUSINESS WIRE)--\nLigand Pharmaceuticals Incorporated (NASDAQ: LGND) announced that at today’s Investor and Analyst Day event its executive management provided an overview of Ligand’s corporate structure and business following the successful spin-off of its OmniAb antibody discovery business, reviewed Ligand’s recent progress and near-term partner milestones and provided an outlook for financial growth. Management also introduced 2023 financial guidance and discussed its capital deployment strategy. A webcast of the event including slides is available here.\n\nHighlights of today’s event held in-person in New York City and virtually included the following:\n\nBusiness Model and Growth Drivers\n\n\nManagement reviewed Ligand’s business model and the ongoing diversification of its partnership portfolio. Ligand shares in the promise of the biopharmaceutical industry through royalty economics earned from providing development capital and access to its platform technologies.\n\n\nManagement reviewed its capital deployment strategy, which is focused on providing developmental capital and acquiring scalable platform technologies, and noted that current market conditions have created a substantial number of M&A opportunities.\n\n\nToday Ligand has economic rights to more than 100 programs being developed or commercialized by nearly 100 different partners. Ligand spotlighted the most advanced late-stage assets in its portfolio and reviewed 10 potential major pipeline events expected in 2023, including:\n\n\nFDA approval of Travere’s Sparsentan for the treatment of IgA nephropathy;\n\n\nNDA submission of Verona’s Ensifentrine for the treatment of COPD;\n\n\nEMA approval of Jazz’s Rylaze for the treatment of ALL/LBL;\n\n\nFDA approval of Novan’s Berdazimer gel for the treatment of molluscum;\n\n\nLate-stage clinical data for Palvella’s QTORIN in pachyonychia congenita, MLM and Gorlin syndrome;\n\n\nLate-stage clinical data for Marinus’ ganaxolone in refractory status epilepticus;\n\n\nPhase 2b data for Vikings’ VK2809 in NASH;\n\n\nFDA Therapeutic Equivalence rating of Alvogen’s teriparatide injection in reference to Forteo.\n\n\n\n\nManagement outlined the development status and ...