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Dec 31, 2020
Ligand Q4 2020 Earnings Report
Reported financial results, highlighting a stellar year and a diversified company with expanded growth outlook.
Key Takeaways
Ligand reported strong Q4 2020 financial results with total revenues of $70.0 million, a significant increase from $27.0 million in the same period of 2019. The company's adjusted net income was $27.1 million, or $1.62 per diluted share, compared to $12.9 million, or $0.71 per diluted share, for the same period in 2019. Ligand also raised its 2021 financial guidance, expecting total revenues of approximately $291 million.
Total revenues for Q4 2020 were $70.0 million, compared to $27.0 million for the same period in 2019.
Adjusted net income for Q4 2020 was $27.1 million, or $1.62 per diluted share, compared to $12.9 million, or $0.71 per diluted share, for the same period in 2019.
Ligand completed the sale of Vernalis Business operations to HitGen, Inc. for $26.7 million in cash, resulting in a gain of $17.1 million for the fourth quarter of 2020.
Ligand is raising its 2021 financial guidance, now expecting total revenues to be approximately $291 million and adjusted diluted EPS to be approximately $6.15.
Revenue by Segment
Forward Guidance
Ligand is raising its 2021 financial guidance. Ligand now expects total revenues to be approximately $291 million and adjusted diluted EPS to be approximately $6.15, up from previous guidance for total revenues of approximately $285 million and adjusted diluted EPS of approximately $6.00.
Positive Outlook
- Total revenues are expected to be approximately $291 million.
- Adjusted diluted EPS is expected to be approximately $6.15.
- Guidance reflects Travere Therapeutics' positive Phase 3 data for sparsentan.
- Potential NDA filing in 2021 for sparsentan.
- Milestone payment due to Ligand upon NDA submission.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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