LGND - Ligand forecasts Captisol material sales more than double in 2021

Ligand Pharmaceuticals ([[LGND]] +5.0%) expects Captisol material sales of ~$200M in 2021 compared to its 2020 full-year expectation of $90M.The company said “recent new contracting with partners and investments in manufacturing capacity have contributed to its Captisol business operating at the highest levels in the history of the technology and position Captisol for major growth."120+ Captisol research use agreements and 8 clinical and/or commercial license agreements this year, is more contracts than any other year, the company says.LGND facilitated installation of equipment to allow production at significantly higher levels to support anticipated demand, as well as added processing capacity for Captisol in both the U.S. and England.Its pivotal trial for Captisol-enabled Iohexol (CE- Iohexol) is planned to initiate in December; CE-Iohexol is an iodine-based contrast agent for hospital-based imaging procedures.Captisol is a chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs

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Ligand forecasts Captisol material sales more than double in 2021