(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.
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