Ligand reports Q2 adjusted EPS $1.40, consensus $1.06

Reports Q2 revenue $41.531M, consensus $32.86M. “We had a strong quarter and are on track to meet the long-term growth objectives we outlined in December,” said Todd Davis, CEO of Ligand. “We added four new commercial-stage programs in the first half of this year, including QARZIBA(R), an orphan oncology product we acquired following the APEIRON Biologics transaction, Merck’s CAPVAXIVE(TM) and Verona Pharma’s Ohtuvayre(TM), which received FDA approval in the second quarter, and Pelthos’ ZELSUVMI(TM) which was approved by the FDA earlier this year. Also, our partner, Primrose Bio secured additional outside capital which will enable them to continue building their business, fortifying the value of our long-term interest in the company. These developments underscore our commitment to expand our royalty portfolio, which now includes 12 major commercial-stage programs, double the number of programs we had at the beginning of 2023.”