JUPITER, Fla., July 10, 2025 (GLOBE NEWSWIRE) -- Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) today announced that its partner Pelthos Therapeutics Inc. (NYSE American: PTHS) has commercially launched ZELSUVMI™ (berdazimer) topical gel 10.3%, the first and only FDA-approved at-home treatment for molluscum contagiosum. The Company has earned a $5 million milestone payment from Pelthos following the commercial launch of ZELSUVMI. “Molluscum impacts millions of people in the U.S., particularly children. ...

Pelthos plans to launch ZELSUVMI™ for the treatment of Molluscum contagiosum infections in July 2025 Concurrent with the closing of the merger, Ligand has invested $18 million in the combined company and is entitled to a 13% royalty on worldwide sales of ZELSUVMI Pelthos will commence trading on the NYSE American exchange under the new ticker symbol "PTHS" on July 2, 2025 JUPITER, Fla., July 02, 2025 (GLOBE NEWSWIRE) -- Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) today announced the completion of its ...

Company Overview - Ligand Pharmaceuticals is a biopharmaceutical company focused on supporting the clinical development of high-value medicines through financing and licensing technologies [3] - The company's business model aims to create a diversified portfolio of biotech and pharmaceutical product revenue streams while maintaining a low corporate cost structure [3] - Ligand partners with leading pharmaceutical companies to leverage their expertise in late-stage development, regulatory management, and commercialization [3] Upcoming Investor Day - Ligand Pharmaceuticals will host an Investor Day in New York City on December 9, 2025, at 10 a.m. Eastern Time [1] - The event will feature presentations from Ligand's senior management team discussing the company's strategy, investment activity, royalty portfolio, and long-term financial outlook [2] - A live webcast of the event will be available on Ligand's Investor Relations website, with a detailed agenda and dial-in information to be provided closer to the event [2] Technology Platforms - Ligand operates two infrastructure-light royalty-generating technology platforms: Captisol® and NITRICIL™ [3] - The Captisol® platform is designed to optimize the solubility and stability of drugs through a chemically modified cyclodextrin structure [3] - The NITRICIL™ platform allows for tunable dosing and adjustable drug release profiles, targeting a broad range of indications [3] Partnerships and Alliances - Ligand has established multiple alliances and licenses with major pharmaceutical companies, including Amgen, Merck, Pfizer, Jazz, Gilead Sciences, and Baxter International [3]

Core Insights - Ligand Pharmaceuticals reported a strong first quarter performance with total revenues of $45.3 million, a 46% increase from $31.0 million in the same period of 2024, driven by a 44% growth in royalty revenue [4][5] - The company reaffirmed its 2025 financial guidance, expecting total revenues between $180 million and $200 million, with adjusted earnings per diluted share projected to be between $6.00 and $6.25 [8][7] - Ligand's CEO highlighted the strength of the commercial royalty portfolio and the strategic transaction with Channel Therapeutics to accelerate the launch of ZELSUVMI, which is expected to create significant value for shareholders [3][9] Financial Performance - Total revenues for Q1 2025 were $45.3 million, with royalties contributing $27.5 million and Captisol sales at $13.5 million [4][5] - Research and development expenses surged to $50.1 million, primarily due to a one-time charge of $44.3 million related to a royalty financing agreement with Castle Creek Biosciences [4][5] - The GAAP net loss for Q1 2025 was $42.5 million, or $2.21 per share, compared to a net income of $86.1 million, or $4.75 per diluted share, in Q1 2024 [5][29] Strategic Transactions - Ligand announced a merger agreement with Channel Therapeutics, which will be supported by $50 million in capital from strategic investors [9][10] - The combined entity will focus on the commercialization of ZELSUVMI, the first FDA-approved prescription therapy for molluscum contagiosum infections [11][9] - Ligand's investment of $18 million in the combined company reflects its commitment to the growth of Pelthos Therapeutics [10][9] Portfolio Updates - Verona reported Ohtuvayre net sales of $71.3 million for Q1 2025, a 95% increase compared to the previous quarter [13] - Travere Therapeutics received European Commission approval for Filspari, enhancing its market position [14] - UroGen and Merck also reported significant advancements in their respective product pipelines, indicating a robust biopharmaceutical landscape [15][17] Cash Position - As of March 31, 2025, Ligand had cash, cash equivalents, and short-term investments totaling $208.9 million, including $24.2 million in Viking Therapeutics common stock [6][32]

Company Overview - Ligand Pharmaceuticals is a biopharmaceutical company focused on supporting the clinical development of high-value medicines through financing and licensing technologies [2] - The company's business model aims to create a diversified portfolio of biotech and pharmaceutical product revenue streams while maintaining a low corporate cost structure [2] - Ligand partners with leading pharmaceutical companies to leverage their expertise in late-stage development, regulatory management, and commercialization [2] Upcoming Investor Conferences - Ligand management will participate in the H.C. Wainwright Royalty Company Conference on May 13, 2025, at 3:30 p.m. ET, including a fireside chat and one-on-one meetings [4] - Management will also take part in the RBC Capital Markets Global Healthcare Conference on May 20, 2025, at 2:05 p.m. ET, featuring a fireside chat and one-on-one meetings [4] - Additionally, Ligand will engage in one-on-one meetings at the Craig-Hallum Institutional Investor Conference on May 28, 2025 [4] Technology Platforms - Ligand operates two infrastructure-light royalty-generating technology platforms: Captisol® and NITRICIL™ [2] - The Captisol® platform is designed to optimize the solubility and stability of drugs through a chemically modified cyclodextrin structure [2] - The NITRICIL™ platform allows for tunable dosing, enabling adjustable drug release profiles for proprietary formulations targeting a broad range of indications [2] Investor Relations - The company utilizes its investor relations website and social media to disclose material non-public information and comply with disclosure obligations under Regulation FD [3] - Investors are encouraged to monitor the company's website and social media accounts for updates, press releases, SEC filings, and public conference calls [3]