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Jun 30, 2020
Ligand Q2 2020 Earnings Report
Ligand reported strong Q2 2020 financial results, exceeding expectations and raising 2020 financial guidance.
Key Takeaways
Ligand Pharmaceuticals Incorporated reported total revenues of $41.4 million and net income of $22.1 million, or $1.32 per diluted share, for the second quarter of 2020. The company raised its 2020 financial guidance, now expecting total revenues to be approximately $165 million and adjusted diluted EPS to be $4.10.
Total revenues for the second quarter of 2020 were $41.4 million, compared to $25.0 million for the same period in 2019.
Captisol sales were $24.5 million for the second quarter of 2020, compared to $8.5 million for the same period in 2019, primarily due to higher sales for use with remdesivir.
Net income for the second quarter of 2020 was $22.1 million, or $1.32 per diluted share, compared to a net loss of $(14.4) million, or $(0.74) per share, for the same period in 2019.
Ligand is investing up to $60 million to significantly expand annual manufacturing capacity for Captisol.
Revenue by Segment
Forward Guidance
Ligand is raising its 2020 financial guidance.
Positive Outlook
- 2020 total revenues to be approximately $165 million
- Adjusted diluted EPS to be $4.10
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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