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Dec 31, 2019
Ligand Q4 2019 Earnings Report
Reported financial results for the fourth quarter and full year 2019 and provided an operating forecast and program updates.
Key Takeaways
Ligand reported Q4 2019 revenues of $27.0 million, compared to $59.6 million for the same period in 2018. Net loss for the quarter was $(7.4) million, or $(0.43) per share, compared to a net loss of $(42.5) million, or $(2.02) per share, for the same period in 2018. Adjusted net income for the fourth quarter of 2019 was $12.9 million, or $0.71 per diluted share, compared with adjusted net income of $39.0 million, or $1.70 per diluted share, for the same period in 2018.
Ligand entered into nine OmniAb® licensing transactions.
Reported positive Phase 1 results with Captisol-enabled Iohexol.
Bolstered technology assets with the acquisition of an antigen design company.
Advanced five internal immuno-oncology programs.
Revenue by Segment
Forward Guidance
Ligand is providing guidance for 2020 with total revenues expected to be approximately $121 million, which includes royalties of approximately $38 million, material sales of approximately $35 million and license fees and milestones of approximately $48 million. Ligand notes that with total revenues of $121 million, adjusted earnings per diluted share would be approximately $3.40. This compares to 2019 adjusted revenue of $106.1 million and adjusted EPS of $2.52, excluding the impact of Promacta in 2019.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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