Ligand Q1 revenue rises 14% on royalty growth

Ligand Pharmaceuticals Incorporated

Ligand Pharmaceuticals Incorporated

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Overview

  • Royalty aggregator's Q1 revenue rose 14% yr/yr, driven by 56% royalty revenue growth

  • Adjusted EPS for Q1 grew 23% yr/yr, mainly on higher royalty revenue

  • Company reaffirmed 2026 full-year guidance, reflecting anticipated partial-year XOMA contribution


Outlook

  • Ligand reaffirms 2026 adjusted EPS guidance of $8.50 to $9.50

  • Company sees 2026 royalty revenue of $225 mln to $250 mln

  • Ligand expects 2026 total revenue of $270 mln to $310 mln


Result Drivers

  • ROYALTY REVENUE SURGE - 56% yr/yr royalty revenue growth, mainly from Filspari, Ohtuvayre and Capvaxive, drove results

  • FILSPARI FDA APPROVAL - Full FDA approval of Filspari in FSGS strengthened royalty portfolio and boosted royalty income

  • CAPTISOL SALES DECLINE - Captisol sales fell due to timing of customer orders, partially offsetting revenue growth


Company press release: ID:nGNX13hhSc


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 EPS

-$0.67

Q1 Net Income

-$13.35 mln

Q1 Basic EPS

-$0.67

Q1 Operating Income

$17.37 mln

Q1 Pretax Profit

-$24.26 mln


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