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Dec 31, 2023
Ligand Q4 2023 Earnings Report
Ligand's financial performance for Q4 2023 and full year 2023 was reported, with a focus on strategic initiatives and financial results.
Key Takeaways
Ligand Pharmaceuticals reported Q4 2023 total revenues of $28.1 million. Net income from continuing operations for the fourth quarter of 2023 was $18.2 million, or $1.03 per diluted share, compared to a net loss of $14.5 million, or $0.86 per share, for the same period in 2022.
Total revenues for the fourth quarter of 2023 were $28.1 million.
Royalties for the fourth quarter of 2023 were $22.5 million, compared with $22.0 million for the same period in 2022.
Core Captisol® sales (excluding sales of Captisol related to COVID-19) were $3.9 million for the fourth quarter of 2023, compared with $3.3 million for the same period in 2022.
Net income from continuing operations for the fourth quarter of 2023 was $18.2 million, or $1.03 per diluted share, compared to a net loss of $14.5 million, or $0.86 per share, for the same period in 2022.
Revenue by Segment
Forward Guidance
Ligand is reaffirming 2024 financial guidance introduced at its Investor and Analyst Day held on December 12, 2023. The Company expects 2024 royalties ranging from $90 million to $95 million, sales of Captisol ranging from $25 million to $27 million and contract revenue ranging from $15 million to $20 million.
Positive Outlook
- 2024 royalties ranging from $90 million to $95 million
- Sales of Captisol ranging from $25 million to $27 million
- Contract revenue ranging from $15 million to $20 million
- Total revenue forecast of $130 million to $142 million
- Adjusted earnings per diluted share are expected to range from approximately $4.25 to $4.75
Historical Earnings Impact
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Avg. Return Before/After Earnings
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