Ligand Pharmaceuticals Incorporated
) entered into a deal with Avion Pharmaceuticals, LLC, under which
four Captisol-enabled programs will be developed and
commercialized. Shares of Ligand Pharma were up 2.93% following the
According to the deal, Ligand Pharma will receive an upfront
payment along with potential milestone payments. Ligand Pharma is
also entitled to revenues and royalties under the deal. This
partnership has expanded Ligand's portfolio of Shots-on-Goal with
more than 100 fully funded programs.
We are positive on the agreement between Ligand Pharma and Avion
Ligand Pharma has announced a number of deals this year
including agreements with TG Therapeutics (
) and Omthera Pharmaceuticals (treatment of dyslipidemia, including
hypertriglyceridemia). Ligand Pharma has also licensed the rights
to five programs to Viking Therapeutics.
The TG Therapeutics deal involves the development and
commercialization of Ligand's interleukin-1 receptor associated
kinase-4 (IRAK-4) inhibitors. Ligand Pharma is currently developing
IRAK4 inhibitors for the treatment of certain forms of cancer and
autoimmune diseases. The IRAK4 program is in pre-clinical
According to the deal, Ligand Pharma received 125,000
unregistered shares of TG Therapeutics' common stock, valued at
about $1 million on the date of signing the deal. Additionally, the
company will receive $207 million on the achievement of specific
milestones and tiered royalties of 6%−9.5% on net sales of licensed
Ligand Pharma's Captisol technology has enabled six FDA approved
products, which include Amgen's (
) Kyprolis and Merck's Noxafil IV. Meanwhile, more than 30 Captisol
enabled products are in clinical development.
Ligand Pharma holds a Zacks Rank #5 (Strong Sell). A better
ranked stock in the biotech sector is Actelion Ltd. (
), carrying a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
AMGEN INC (AMGN): Free Stock Analysis Report
ACTELION LTD (ALIOF): Get Free Report
LIGAND PHARMA-B (LGND): Free Stock Analysis
TG THERAPEUTICS (TGTX): Free Stock Analysis
To read this article on Zacks.com click here.