Ligand Pharma Earns Milestone Payment On FDA Approval Of Baxdela - Quick Facts

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( - Ligand Pharmaceuticals Inc. ( LGND ) announced that partner Melinta Therapeutics, a privately held company, announced on Monday that the U.S. FDA has approved Baxdela (delafloxacin), indicated in adults for the treatment of acute bacterial skin and skin structure infections caused by susceptible bacteria.

Baxdela IV utilizes Ligand's Captisol technology. As a result of the approval, Ligand has earned a $1.5 million milestone payment and will earn a 2.5% royalty on Baxdela IV sales.

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Referenced Symbols: LGND

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