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Sep 30, 2022
Ligand Q3 2022 Earnings Report
Reported financial results, including revenue of $66.1 million and net income of $0.4 million.
Key Takeaways
Ligand Pharmaceuticals reported a revenue increase to $66.1 million for the third quarter of 2022, compared to $64.8 million in the same period of 2021. Net income was $0.4 million, or $0.02 per diluted share, compared to $13.7 million, or $0.80 per diluted share, for the same period in 2021. The company increased its 2022 financial guidance from continuing operations.
Ligand completed the spin-off of its OmniAb antibody discovery business.
Revenue for the third quarter of 2022 was $66.1 million, compared to $64.8 million for the same period in 2021, and royalty revenue increased by 27% to $19.8 million.
Net income for the third quarter of 2022 was $0.4 million, or $0.02 per diluted share, compared with net income of $13.7 million, or $0.80 per diluted share, for the same period in 2021.
Ligand increased 2022 financial guidance from continuing operations, expecting total revenue of $184 million to $189 million.
Revenue by Segment
Forward Guidance
Ligand is increasing 2022 financial guidance from continuing operations. Expects total revenue of $184 million to $189 million. Ligand expects 2022 royalties of $66 million to $69 million, Captisol sales of approximately $100 million and contract revenue of $18 million to $20 million.
Positive Outlook
- Total revenue expected to be $184 million to $189 million.
- Royalties expected to be $66 million to $69 million.
- Captisol sales expected to be approximately $100 million.
- Contract revenue expected to be $18 million to $20 million.
- Adjusted earnings per diluted share of $4.30 to $4.45.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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