Ligand Pharmaceuticals Inc ( (LGND) ) has released its Q4 earnings. Here is a breakdown of the information Ligand Pharmaceuticals Inc presented to its investors.
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Ligand Pharmaceuticals Inc., a biopharmaceutical company, focuses on enabling scientific advancement through financing and licensing technologies in the biotech and pharmaceutical sectors. The company reported strong financial performance for the full year 2024, driven by a 28% growth in royalty revenue, and reiterated its 2025 financial guidance.
In 2024, Ligand achieved significant revenue growth, primarily due to the FDA approvals of three major portfolio products: Verona’s Ohtuvayre, Travere’s Filspari, and Merck’s Capvaxive. The company’s total revenues for the fourth quarter of 2024 were $42.8 million, a 52% increase from the same period in 2023, largely due to a 55% rise in royalty revenue. However, the company reported a GAAP net loss of $31.1 million for the quarter.
Key financial metrics for the full year 2024 include total revenues of $167.1 million, up from $131.3 million in 2023, and adjusted net income from continuing operations of $156 million. The increase in royalty revenue was primarily attributed to the recently acquired royalty asset, Qarziba, and increased sales of Filspari. Ligand’s strategic investments and partnerships, such as the $75 million investment in Castle Creek Biosciences, highlight its commitment to expanding its portfolio.
Looking ahead, Ligand remains optimistic about 2025, anticipating multiple value-creating milestones, including the potential launch of ZELSUVMI by mid-2025. The company is well-positioned to capitalize on its broad pipeline of investment opportunities, aiming to drive significant future growth and create long-term shareholder value.