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Jun 30, 2024
Ligand Q2 2024 Earnings Report
Reported strong financial results for the second quarter of 2024, driven by increased royalty revenue and milestone payments.
Key Takeaways
Ligand reported a strong second quarter with total revenues of $41.5 million, driven by increased royalty revenue and milestone payments. The company added four new commercial-stage programs and reaffirmed its 2024 financial guidance.
Total revenues and other income for the second quarter of 2024 were $41.5 million, compared to $26.4 million for the same period in 2023.
Royalties for the second quarter of 2024 were $23.2 million, compared to $20.9 million for the same period in 2023.
GAAP net loss from continuing operations for the second quarter of 2024 was $51.9 million, or $2.88 per share, compared to GAAP net income from continuing operations of $2.3 million, or $0.13 per diluted share, for the same period in 2023.
Adjusted net income from continuing operations for the second quarter of 2024 was $25.8 million, or $1.40 per diluted share, compared to $25.1 million, or $1.42 per diluted share, for the same period in 2023.
Revenue by Segment
Forward Guidance
Ligand reaffirmed its 2024 financial guidance.
Positive Outlook
- Royalties are expected to range from $100 million to $105 million.
- Sales of Captisol are expected to range from $25 million to $27 million.
- Contract revenue is expected to range from $15 million to $25 million.
- Total revenue is forecast to be $140 million to $157 million.
- Core adjusted earnings per diluted share are expected to range from approximately $5.00 to $5.50.
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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