Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Q4 2021 Earnings Conference Call February 17, 2022 4:30 PM ET Company Participants Simon Latimer - Head of Investor Relations John Higgins - Chief Executive Officer Matt Korenberg - Chief Financial Officer Matt Foehr - Chief Operating Officer Conference Call Participants Joe Pantginis - H.C. Wainwright Larry Solow - CJS Securities Matt Hewitt - Craig-Hallum Jacob Johnson - Stephens Scott Henry - ROTH Capital Operator Good day and thank you for standing by a ...

Financial Data and Key Metrics Changes - Total revenues for Q3 2021 were $64.8 million, up 55% from $41.8 million a year ago [21] - Royalty revenue increased 74% to $15.6 million from $9 million a year ago [21] - Captisol sales were $35.1 million, up 50% from $23.4 million a year ago [22] - GAAP EPS for the quarter was $0.80, and adjusted diluted EPS was $1.58, an increase of 52% from $1.04 last year [22] - The company exited the quarter with approximately $323 million in cash, cash equivalents, and short-term investments [22] Business Line Data and Key Metrics Changes - Royalties are the main revenue driver, with significant contributions from KYPROLIS and EVOMELA, which saw higher-than-expected sales [6][21] - EVOMELA is beginning to be a major contributor to the bottom line with a 20% royalty [8] - The approval of Rylaze, VAXNEUVANCE, and zimberelimab is expected to fuel growth and royalty revenue for years to come [20] Market Data and Key Metrics Changes - KYPROLIS received approval in China, which is anticipated to drive further growth [7][29] - Merck's VAXNEUVANCE received FDA approval and is expected to play a significant role in preventing invasive pneumococcal disease [30][32] - The first approval of an OmniAb derived antibody, zimberelimab, marks a significant milestone for the company [34] Company Strategy and Development Direction - The company plans to split into two independent entities to better position itself for growth and value creation [12][18] - The OmniAb platform has exceeded expectations, with over 50 partners and more than 200 programs [14][15] - The company is pursuing a path to create an independent publicly traded OmniAb company, with plans to file a confidential S1 [25][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, driven by a diverse portfolio of royalties and strong partner relationships [12][51] - The company is optimistic about the future of the OmniAb platform and its potential for further approvals and partnerships [35][44] - Management noted that the core business is performing well, with expectations for continued growth into next year [57] Other Important Information - The company has seen a string of partner successes with several approvals in recent months, which are expected to contribute to future revenue [5][9] - The company is focused on maintaining a lean operating structure to enhance cash flow and profitability [12] Q&A Session Summary Question: What prompted the decision to split the company now? - Management indicated that the decision was driven by the success of the business and the opportunity to create more focused teams for R&D and capital allocation [50][51] Question: Why was guidance not increased despite strong performance? - Management explained that while the overall business is performing well, uncertainties around Captisol related to Remdesivir influenced the decision to maintain guidance [57] Question: What is the timeline for the potential IPO of OmniAb? - Management stated that they hope to file an S1 in the coming months and aim to consummate a transaction sometime next year [70] Question: What are the expectations for Captisol sales going into 2022? - Management maintained that the outlook for Captisol remains unchanged, focusing on core business and anticipating a smaller contribution from COVID-related sales [77] Question: What are the key contributors to royalty revenue growth? - Management highlighted Teriparatide, Rylaze, and other smaller products as significant contributors to the quarter's royalty revenue [78]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________________________ FORM 10-Q ________________________________________________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transitio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________________________ FORM 10-Q ________________________________________________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Per ...

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Q2 2021 Earnings Conference Call July 29, 2021 4:30 PM ET Company Participants Simon Latimer - Head of IR John Higgins - CEO Matthew Korenberg - CFO Matt Foehr - COO Matthew Foehr - Conference Call Participants Lawrence Solow - CJS Securities Matt Hewitt - Craig-Hallum Capital Balaji Prasad - Barclays Jacob Johnson - Stephens Scott Henry - ROTH Capital Operator Good day and thank you for standing by. Welcome to the Ligand Pharmaceuticals Second Quarter Earn ...

Washington, D.C. 20549 ________________________________________________________________________________________ FORM 10-Q ________________________________________________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2021 or UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Pe ...

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Q1 2021 Earnings Conference Call May 3, 2021 2:30 PM ET Company Participants John Higgins - Chief Executive Officer Matthew Korenberg - Executive Vice President, Finance and Chief Financial Officer Matthew Foehr - President and Chief Operating Officer Conference Call Participants Joseph Pantginis - H.C. Wainwright Lawrence Solow - CJS Securities Balaji Prasad - Barclays Matt Hewitt - Craig-Hallum Capital Scott Henry - ROTH Capital Dana Flanders - Guggenheim ...

Company Overview March - 2021 Nasdaq: LGND 1 Copyright © 2020 Ligand. All Rights Reserved. 2 SAFE HARBOR STATEMENT The following presentation contains forward-looking statements by Ligand and its partners that involve risks and uncertainties and reflect Ligand's and it's partners' judgment as of the date of this presentation. Words such as "plans," "believes," "expects," "projects," "could," "anticipates," and "will," and similar expressions, are intended to identify forward-looking statements. These forwar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________________________________________________ FORM 10-K _____________________________________________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transitio ...

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Q4 2020 Earnings Conference Call February 3, 2021 8:30 AM ET Company Participants Patrick O'Brien - Investor Relations John Higgins - Chief Executive Officer Matt Korenberg - Executive Vice President, Finance and Chief Financial Officer Matt Foehr - President and Chief Operating Officer Conference Call Participants Joe Pantginis - H.C. Wainwright Balaji Prasad - Barclays Matt Hewitt - Craig-Hallum Capital Group Scott Henry - Roth Capital Dana Flanders - Gugg ...