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Sep 30, 2024
Ligand Q3 2024 Earnings Report
Reported strong Q3 2024 performance driven by portfolio royalty revenue growth and increased full year guidance.
Key Takeaways
Ligand reported a successful Q3 2024, driven by a 58% increase in revenue, primarily due to royalty revenue and milestone payments, leading to increased full-year financial guidance. Several key portfolio events, including successful commercial launches and FDA approvals, are expected to drive future revenue growth.
Total revenues and other income increased by 58% to $51.8 million compared to Q3 2023.
Royalties increased by 33% to $31.7 million compared to Q3 2023, driven by QARZIBA and increased sales of FILSPARI.
Core adjusted net income from continuing operations increased to $35.3 million, or $1.84 per diluted share, compared to $18.0 million, or $1.02 per diluted share, for the same period in 2023.
Increased 2024 full year revenue guidance to $160 million - $165 million and core adjusted earnings per diluted share to $5.50 - $5.70.
Revenue by Segment
Forward Guidance
Ligand is increasing its 2024 full year financial guidance. The company now expects total revenue of $160 million to $165 million and is raising core adjusted earnings per diluted share to $5.50 to $5.70.
Positive Outlook
- Total revenue expected between $160 million and $165 million.
- Core adjusted earnings per diluted share expected between $5.50 and $5.70.
- Royalties are expected to be $105 million to $108 million.
- Sales of Captisol of $27 million to $29 million.
- Contract revenue of $28 million.
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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