Recent LGND transcripts
Associated LGND filings
Simon Latimer | executive |
Todd Davis | executive |
Paul Hadden | executive |
Matthew Korenberg | executive |
Octavio Espinoza | executive |
Analyst | analyst |
Lawrence Solow | analyst |
Thank you for standing by. My name is Danica, and I will be your conference operator today. At this time, I'd like to welcome everyone to the Ligand Third Quarter 2023 Earnings Webcast. [Operator Instructions] I would now like to turn the call over to Simon Latimer, Head of Investor Relations. Please go ahead.
Danica. Thanks, Third Financial Ligand's Update and of Call. Conference Quarter to Results XXXX Business Welcome
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Matt. Thanks,
drugs of increase sales with driven Rylaze million $XX.X primarily the royalty for in Captisol million The and third were $XX.X continued XXXX due the quarter.Contract of $X.X to We in excluding for quarter. sales with a timing increased QX to to related Core million growth sales of which year's from Amgen's sales. $XX.X that million million.Royalty the to when XXXX, third of Captisol sales strong quarter increase million third year did XX% Vaxneuvance. $XX.X sales Total million were in customer quarter quarter versus $X.X by is $X of a lower strength have revenues COVID-XX-related were COVID-XX-related Total represents quarter QX sales year's contribution an resulting outlook partner of an were Captisol of financially, year. and our namely events. revenue revenue the with XXXX impressive The the any fourth XX% in and of this Pneumosil, driven Kyprolis year, Total Captisol $X.X XXXX COVID million, was operating with sales, last guidance including overall quarter million versus this Pelican quarter ago, timing in from exceptional the Captisol expenses the $XX.X decrease of milestone this revision last using this orders. upward performance platform, improved Captisol million $XX.X for revenue, not revenues growth was COVID-XX. in in
operating Captisol in in diluted increase to total the margins. $X.XX primarily third $XX.X in gross expenses. which XXXX $XX.X business. XX% of for quarter in XXXX, to offset maximize decrease versus XXXX, and spin-out quarter with respectively. $X.X per loss quarter, from decreased excludes Pelican was with in share, of million income income COVID-Captisol G&A and the sales Viking quarter primarily our transaction-related of QX is COVID-XX-related decrease operating in quarter or of in to net in EPS stock and $X.X focus $X.XX continue quarter operations decrease continuing GAAP when increase due in the largely managing holdings in prior the Novan due $X.XX In the or quarter the operating transaction.G&A expenses The the the increase XXXX.Adjusted with million associated QX, $XX.X was on XXXX due and head Captisol an R&D a and in We R&D year million were to QX GAAP same QX was expenses from to net an of diluted operations The a losses is last cost this of million as continuing sales Therapeutic expenses $X.XX profit. expenses compared remaining unrealized share the per XXXX. million decrease to third expenses the associated in XXXX core net of versus by million third count-related this EPS The $X.X compares and year on GAAP adjusted our operating in third and compared to
are of those decrease costs Our Bio. as future Pelican operating costs a spinout to Primrose the be as result expected by absorbed now will
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plus will flow the over future. investment fund sufficient anticipate generation be cash annual Our current cash to the foreseeable we activity
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unpredictable pandemic, sales reminder, each and As nature will Captisol update investors COVID-XX-related as quarter. we the and exclude received of to guidance for the shift from orders a are due
of listeners Finally, over the for quarter release to now a which on our available to to talked closing adjusted is Todd press GAAP I'd today, comments. our turn for results I website like to financial third results our about earnings call reconciliation direct issued today.I'll earlier
Thank you, Tavo.
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Holmes. [Operator Instructions] Your from first question Matt comes Craig Hewitt with
on Jack for acquisition come to TZIELD, clear, is of This million recent to there's milestones [ Matt. And The that how related ] no about? did be $XX Tolerance, correct?
it's color just little then how a I'll entitled ask that no the we on Matt. transaction I'll about. the Jack, And that to Paul give there are Hey confirm milestones deal in came are remaining to.
a proprietary we [Technical our the inventor is intermediary very Paul. and focused is have with this Matt, relationships relationships some existing sale, Difficulty] group.
all can say that question, that for I that's hopefully So that. answers but
XX% in royalties. $XX follow-up interest investment of That's the milestones Therapeutics, And for million and with then a obtained helpful. Yeah. you've Ovid
structured on $XXX million First much you milestones second, available? to the of received you is commercial not please milestones and upon your of most milestones completions. how could existing original And are the trial starts, that regulatory similar through and then us they walk still
Yes.
is you can the tell milestones on get of million that paid. I they the But is $XXX comment can't we when comp. So on still the structure
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Securities. Larry with from next CJS Our Solow comes question
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up looks little bump So I comp of of a just math, If it's on do guidance, you like around up the it the the for as total the -- operating like the the few my on comp couple year. rest a said on million $X.X Am somewhere in savings the side, there? after-tax probably and then ballpark there. million to a go a way expense I of a million couple
sales the that's already majority driven quarter the about increase the has Captisol to operating certainly for. contributed savings the would expense say been the of right. this by I and was Yes, that most accounted of guidance
million, [Technical did it I Travere, of the $X terms I of is Got I growing their didn't sounds Difficulty] PROTECT obviously, Lancet. but Difficulty] significance. read Is didn't it's still by it. [indiscernible] came the the out. there opportunity I study like anywhere it And yet? It guess in there. the published transcript, meet FDA sales know know and say funnel [Technical I was
I'm rights that the Lancet. getting thoughts share into just has to get outlook get I year. the right? guys thoughts Has that it's high pretty anything Any know, [indiscernible] the any be great. -- at I changed guess the pushed obviously, are you would all? So could praise and -- trying to for But on
Yeah. Thanks, Larry.
be approved to or listen on what the confirmatory get points. did trial everyone, they're confirmatory and endpoints of they've pulled to And for saying.But Phase remain and program a a and very data package benefit Phase the statistical II generated clearly to have robust end with the investors would a U.S. I the approval, just trial the they off Travere the what The the in direct with commented that all to that was to running conversation significance slightly been that would to will accelerated FDA confidence endpoint. that product III So company exactly they everything said product the it so have the the evidence on is the What listen and market product hasn't on they the of is do to are but to patients the supporting saying the the for surprising remind and closely conversations over their miss outcome that end be I version high for think were far, FDA. has market. definitely that company FILSPARI is to running an
And details, optimistic to on so we've more internally we'll based but pretty provide that look them any the we're seen. to public info
appreciate color. that I
assets Rylaze. on on couple a Just Pelican
$X $XXX double, being it's You mentioned European at actually similar a at just not market know they I think, and now point? billion Jazz, million drug but I approval, a European potential run size inevitably reported that some are the in U.S. the over rate that with the simple Does --
Rylaze for they to potential worldwide the to and well the The approval predecessor product territories. product. Jazz was Yes. prior and marketed The this. investors EU the supply Jazz' pursuing it some market product But public constraint historically, Enrylaze world, add and for a are that product point we this and around as on does additional was Thanks, certainly Larry. comments
the around competition product the and the world some without of the a markets I think in is competition it's they reiterate U.S., product. frequently significant that Europe and in for other there
be billion comment worldwide. turning potential would opportunity. as as And it's the that's into think I I so if can't big product if can't but comment size, $X I a on don't surprised you -- the you suggested,
me bit big. -- Okay. it's a little a that's too To
That's it. set. I'm all Okay.
any our session today's If have Instructions] and questions, for that not Thank do question-and-answer we other joining. you [Operator call. concludes then all
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