Business
Ligand Reports First Quarter 2025 Financial Results
First quarter performance driven by strong portfolio royalty revenue growth of 44% Strengthened commercial portfolio and pipeline through strategic
About this update from Ligand Pharmaceuticals Incorporated
[{"type":"text","content":"First quarter performance driven by strong portfolio royalty revenue growth of 44% Strengthened commercial portfolio and pipeline through strategic transactions with Channel Therapeutics and Castle Creek Biosciences Reiterating 2025 financial guidance of $180-$200 million in revenues and adjusted earnings per diluted share of $6.00-$6.251 Conference call begins at 8:30 a.m. Eastern Time today JUPITER, Fla., May 08, 2025 (GLOBE NEWSWIRE) -- Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) today reported financial results for the three months ended March 31, 2025, and provided an operating forecast and business update. Ligand management will host a conference call and webcast today at 8:30 a.m. Eastern Time to discuss this announcement and answer questions. “Ligand delivered another strong quarter, reflecting the continued strength of our growing commercial royalty portfolio,” said Todd Davis, CEO of Ligand. “We also took a significant strategic step to accelerate the commercial launch of ZELSUVMI through our recently announced transaction with Channel Therapeutics. This deal includes substantial financial backing from a group of strategic investors, and we believe it will create significant value for stockholders through both equity and royalty participation. In today’s challenging biopharmaceutical financing environment, our royalty aggregation model stands out as a resilient and proven strategy.” First Quarter 2025 Financial Results Total revenues and other income for the first quarter of 2025 were $45.3 million, compared with $31.0 million for the same period in 2024, with the 46% increase primarily attributable to an increase in royalty revenue and Captisol® sales. Royalties for the first quarter of 2025 were $27.5 million, compared with $19.1 million for the same period in 2024, with the 44% increase primarily attributable to royalties earned on Recordati's Qarziba, and Travere Therapeutics’ Filspari. Captisol sales were $13.5 million for the first quarter of 2025, compared with $9.2 million for the same period in 2024, with the change due to the timing of customer orders. Contract revenue and other income was $4.4 million for the first quarter of 2025, compared with $2.7 million for the same period in 2024. Cost of Captisol was $4.8 million for the first quarter of 2025, compared with $2.9 million for the same period in 2...