Ligand Pharmaceuticals reported a decrease in total revenues to $31.0 million compared to $44.0 million in the same period last year, while royalties increased to $19.1 million. Net income from continuing operations was $86.1 million, or $4.75 per diluted share, primarily due to gains from short-term investments associated with Viking Therapeutics stock of $60.0 million.
Total revenues for the first quarter of 2024 were $31.0 million, compared to $44.0 million for the same period in 2023.
Royalties for the first quarter of 2024 were $19.1 million, compared to $17.6 million for the same period in 2023.
Net income from continuing operations for the first quarter of 2024 was $86.1 million, or $4.75 per diluted share.
Ligand reaffirmed its 2024 financial guidance, expecting royalties ranging from $90 million to $95 million and total revenue forecast of $130 million to $142 million.
Ligand reaffirmed its 2024 financial guidance.
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