Ligand Pharmaceuticals Raises FY20 Outlook - Quick Facts

(RTTNews) - While reporting its financial results for the second quarter on Monday, Ligand Pharmaceuticals Inc. (LGND) said it now expects 2020 total revenues to be about $165 million and adjusted earnings per share to be $4.10, up from previous guidance for total revenues of approximately $140 million and adjusted earnings per share of $3.65.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.71 per share on for the year on revenues of $142.45 million. Analysts' estimates typically exclude special items.

"We are exceeding our plans and expectations across the board, despite the challenges created by the pandemic. Our role in supporting treatments for COVID-19 includes numerous OmniAb, Captisol and Vernalis-based product candidates. In particular, sales of Captisol to partners advancing remdesivir for the treatment of COVID-19 are driving upside to the business, and we expect Captisol demand to increase significantly over the next couple of years," said John Higgins, Chief Executive Officer of Ligand.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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