Financial Performance and Guidance - Ligand's total revenue guidance for 2024 is $160-$165 million[21], with royalty revenue expected to be $105-108 million[22], representing a 27% increase from 2023[30] - The company anticipates adjusted EPS of $550-$570 in 2024[22], a 38% growth[30] - For 2025, Ligand forecasts total revenue of $180-$200 million[34], with royalty revenue growing by 30% over 2024[35] - Ligand projects royalty receipts to grow at a CAGR of 22% from 2024 to 2029[24, 40] Investment and Portfolio Activity - Ligand deployed $192 million across 8 different investments in 2024[21] - The company's Q4 pipeline includes over 30 actionable opportunities, representing over $1 billion of potential investments[61] - Ligand acquired Apeiron Biologics in July 2024 for approximately $100 million, gaining rights to Qarziba royalties[70] Key Products and Platforms - Ligand's Captisol platform is used in 16 approved products[99, 104] - Verona's Ohtuvayre, in which Ligand has royalty rights, achieved over $11 million in sales in the first 4 months following approval[75] - Travere's Filspari generated $356 million in Q3 2024, with 31% growth from Q2 2024[80] - Merck's Capvaxive, another royalty asset for Ligand, protects against strains that cause 84% of invasive pneumococcal disease[88]

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Travere Therapeutics, Inc. and its officers or directors [1] Group 1: Company Developments - On May 15, 2025, Travere announced that the FDA plans to hold an advisory committee meeting regarding its supplemental New Drug Application for FILSPARI, aimed at treating focal segmental glomerulosclerosis [3] - Following the FDA announcement, Travere's stock price dropped by $4.35, or 20.57%, closing at $16.80 per share on May 16, 2025 [3] Group 2: Legal Context - Pomerantz LLP is recognized for its expertise in corporate, securities, and antitrust class litigation, having a long history of fighting for victims of securities fraud and corporate misconduct [4] - The firm has successfully recovered numerous multimillion-dollar damages for class members over its 85-year history [4]

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Travere Therapeutics, Inc. and its officers or directors [1] Group 1: Company Developments - On May 15, 2025, Travere announced that the FDA plans to hold an advisory committee meeting regarding its supplemental New Drug Application for FILSPARI, aimed at treating focal segmental glomerulosclerosis [3] - Following the FDA announcement, Travere's stock price dropped by $4.35 per share, a decline of 20.57%, closing at $16.80 per share on May 16, 2025 [3] Group 2: Legal Context - Pomerantz LLP is recognized for its expertise in corporate, securities, and antitrust class litigation, having a long history of fighting for victims of securities fraud and corporate misconduct [4] - The firm has successfully recovered numerous multimillion-dollar damages awards for class members over its 85-year history [4]

NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of  Travere Therapeutics, Inc. (“Travere” or the “Company”) (NASDAQ: TVTX).  Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether Travere and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On Ma ...

First non-immunosuppressive dual-action therapy recommended by NICE for eligible patients with IgA nephropathy, a leading cause of kidney failure 1-3NICE's recommendation is based on clinically meaningful results from the phase-III PROTECT trial 4ST. GALLEN, Switzerland, May 23, 2025 /PRNewswire/ -- CSL Vifor is pleased to announce that the National Institute for Health and Care Excellence (NICE) has published final draft guidance recommending that sparsentan can be used in the NHS in England as an option t ...

Core Viewpoint - Pomerantz LLP is investigating claims of potential securities fraud or unlawful business practices by Travere Therapeutics, Inc. and its officers or directors [1] Group 1: Company Developments - On May 15, 2025, Travere announced that the FDA plans to hold an advisory committee meeting regarding its supplemental New Drug Application for FILSPARI, aimed at treating focal segmental glomerulosclerosis [2] - Following the FDA announcement, Travere's stock price dropped by $4.35, or 20.57%, closing at $16.80 per share on May 16, 2025 [2] Group 2: Legal Context - Pomerantz LLP is recognized for its expertise in corporate, securities, and antitrust class litigation, having a long history of fighting for victims of securities fraud and corporate misconduct [3]

Financial Data and Key Metrics Changes - The company reported total revenue of over $45 million for Q1 2025, representing a 46% increase from $31 million in the same period last year [33][34] - Adjusted earnings per share (EPS) for Q1 2025 was $1.33, up from $1.20 in Q1 2024 [42] - Royalty revenue increased by 44% year-over-year, totaling $27.5 million in Q1 2025 [34][35] Business Line Data and Key Metrics Changes - Varonis' O2VARE reported net sales of $71.3 million in Q1 2025, nearly double the previous quarter's results [37] - Trevyr's Filspari achieved first-quarter U.S. sales of $56 million, representing over 180% year-over-year growth [38] - Merck's Capaxib reported Q1 sales of $107 million, more than double the prior quarter [39] Market Data and Key Metrics Changes - The company has over $200 million in cash and investments, with no debt and access to a $125 million revolving credit facility [8] - The current biopharmaceutical financing environment is challenging, leading to increased demand for royalty financing [10][11] Company Strategy and Development Direction - The company aims to deliver profitable and compounding growth through a diversified portfolio of royalty assets [14][16] - A focus on acquiring late-stage development assets and commercial assets with superior risk-reward profiles is central to the company's strategy [15][17] - The company anticipates long-term royalty revenue growth to meet or exceed a 22% compound annual growth rate [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future prospects, citing a strong start to 2025 and the potential for significant growth drivers [44] - The company is navigating short-term disruptions due to policy changes but remains focused on delivering clinical value [50][56] - Management noted that the current environment presents opportunities for mergers and acquisitions in the biotech sector [49] Other Important Information - The company executed a strategic transaction to merge its subsidiary, Pylthos Therapeutics, with Channel Therapeutics, raising $50 million in equity capital [22] - ZELSUVME, an FDA-approved therapy for molluscum contagiosum, is positioned as a first-line treatment option [29][31] Q&A Session Summary Question: Current environment for the space and special situations - Management noted an increase in special situations due to difficult financing markets for biotech companies, presenting good opportunities for the company [48][50] Question: Impact of most favored nation's status for drug pricing - Management indicated that while there may be short-term disruptions, the long-term outlook remains positive as most partners focus on the U.S. market [55][58] Question: Investment capacity and opportunities - Management expects to invest above the normal pace this year due to the number of good opportunities, while maintaining diversification limits [76][78] Question: Launch timing for ZELSUVME - The launch is expected to be independent of the merger closing, with preparations already underway [83] Question: Revenue trends for the year - Management anticipates a balanced revenue cadence throughout the year, reiterating guidance for Captisol and royalty revenue [88]

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]

Group 1 - Travere Therapeutics reported $81.73 million in revenue for Q1 2025, a year-over-year increase of 97.6% [1] - The EPS for the same period was -$0.47, improving from -$1.76 a year ago, with a surprise of +14.55% compared to the consensus estimate of -$0.55 [1] - The revenue exceeded the Zacks Consensus Estimate of $79.35 million, resulting in a surprise of +3.00% [1] Group 2 - Key metrics indicate that Travere's stock has returned +16% over the past month, while the Zacks S&P 500 composite has decreased by -0.7% [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance against the broader market in the near term [3] Group 3 - Revenue from Tiopronin products (Thiola) was $19.98 million, slightly below the average estimate of $20.90 million, representing a year-over-year change of -0.8% [4] - Total net product sales reached $75.86 million, exceeding the estimated $69.96 million [4] - Revenue from FILSPARI was $55.88 million, surpassing the average estimate of $49.31 million, with a year-over-year increase of +181.7% [4] - License and collaboration revenue was reported at $5.87 million, above the average estimate of $4.20 million, reflecting a year-over-year change of +322.4% [4]

Travere Therapeutics (TVTX) Q1 2025 Earnings Call May 01, 2025 04:30 PM ET Company Participants Victoria Prescott - Investor RelationsEric Dube - President and Chief Executive OfficerJula Inrig - Chief Medical OfficerPeter Heerma - Chief Commercial OfficerChris Cline - Chief Financial OfficerWilliam Rote - Chief Research OfficerWill Soghikian - Vice President - Equity ResearchLaura Chico - Managing Director, Equity ResearchLiisa Bayko - Managing DirectorGreg Harrison - Director - BiotechnologySadia Rahman - ...