Ligand Pharmaceuticals Incorporated · NASDAQ:LGND
Ligand Pharmaceuticals — Q3 2024 Earnings Presentation
13 slides from Ligand Pharmaceuticals's earnings presentation, Nov 7, 2024
Slide 1: Third Quarter 2024 Financial Results
NOVEMBER 7, 2024 Third Quarter 2024 Financial Results
Slide 2: Safe Harbor Statement and Disclaimers
Safe Harbor Statement and Disclaimers • This presentation contains forward-looking statements, as defined in Section 21E of the Securities Exchange Act of 1934, by Ligand and its partners that involve risks and uncertainties and reflect Ligand’s and its partners’ judgment as of the date of this pres
Slide 3: Q3 '24 Highlights
Q3 ‘24 Highlights 58% total revenue growth, 33% growth in royalties FINANCIAL Revenue and earnings guidance raised for the second time in 2024 Strong financial performance Cash and investments of $220 million, no debt, access to $125 million (expandable to $175 million) through credit facility Inves
Slide 4: Ligand Strategic Differentiation
Ligand Strategic Differentiation STRONG FINANCIALS High-margin / high-growth strategy Superior P&L, low op-ex with lean operations, high profits per employee Predictable and diversified growth ADVANTAGEOUS STRATEGY High Demand: Inefficient market with inexhaustible demand for capital Superior Inform
Slide 5: Looking Ahead To 2028
Looking Ahead To 2028 Expected Royalty Revenue CAGR >20% Current portfolio of commercial and late-stage programs + new deals drive growth1 • 5-year royalty revenue outlook on pace to exceed 22% Ligand Expected Royalty Revenue ($M) 4% Future CAGR CAGR previously shared at analyst day in December Inve
Slide 6: Travere's FILSPARI – Significant Progress in IgAN
Travere’s FILSPARI – Significant Progress in IgAN Q3 24 sales represent a 31% increase from prior quarter • FILSPARI is the first and only non-immunosuppressive approved for treatment of IgA nephropathy (IgAN) – Received full approval in IgAN in September 2024 FILSPARI Quarterly Sales ($M) – FDA als
Slide 7: Travere's FILSPARI – FSGS Potential
Travere’s FILSPARI – FSGS Potential • Travere has scheduled a Type C meeting with the FDA to discuss a regulatory pathway for FILSPARI in FSGS • Travere is preparing an sNDA • We attended the PARASOL workshop with the FDA ‒ PARASOL has examined 26 global FSGS databases, worked with regulators, scien
Slide 8: Portfolio Update: CAPVAXIVE Launch & Eligibility Expansion
Portfolio Update: CAPVAXIVE Launch & Eligibility Expansion CAPVAXIVE Analyst Projections ($M) • 21-valent pneumococcal vaccine designed $1,500 specifically for adults and approved in June 2024 in individuals 18 years of age and older • In June 2024, ACIP unanimously recommended CAPVAXIVE for all adu
Slide 9: Portfolio Update: Ohtuvayre Launch in COPD
Portfolio Update: Ohtuvayre Launch in COPD Ohtuvayre Analyst Projections ($M) • Strong launch with sales of $5.6M and October net sales that exceed total third quarter sales $1,500 • In 12 weeks, ~30% of 2,500 tier 1 HCP have prescribed Ohtuvayre $1,000 • Initial feedback from both patients and HCPs
Slide 10: Q3'24 Financial Highlights
Q3‘24 Financial Highlights Total Revenue Royalty Revenue $51.8M $31.7M 58% increase vs Q3 2023 33% increase vs Q3 2023 Core Adjusted EPS** Deployable Capital $1.84 $345M 80% increase vs Q3 2023 $220M in cash and investments* plus $125M credit facility * $219.6M in cash and investments as of Septembe
Slide 11: Q3 '24 Financial Performance
Q3 ‘24 Financial Performance $ in millions, except for per share amounts Three Months Ended September 30, 2024 2023 • Increase in total revenue driven by milestone earned upon Revenues and other income: the $13.5 million commercial launch of Ohtuvayre and Royalties $31.7 $23.9 growing royalty revenu
Slide 12: Ligand 2024 Financial Guidance Update
Ligand 2024 Financial Guidance Update 2023 Reported 2024 Prior 2024 Updated Guidance Results Guidance Guidance Change2 Royalty $84M $100 - 105M $105-108M +$4M (4%) Revenue Captisol $28M $25 - 27M $27-29M +$2M (8%) Sales Contract YoY Growth3 $19M $15 - 25M $28M $8M (40%) Revenue (%) Total Core $131M
Slide 13: Ligand
LIGAND
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