Ligand(US:LGND)2025-07-02 15:33Financial 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]