LGND - Ligand Pharmaceuticals Non-GAAP EPS of $1.36 beats by $0.24 revenue of $50.38M beats by $10.75M

• Ligand Pharmaceuticals press release ( NASDAQ: LGND ): Q4 Non-GAAP EPS of $1.36 beats by $0.24 .
• Revenue of $50.38M (-10.7% Y/Y) beats by $10.75M .
• Now expect 2023 royalties of $74 million to $78 million (previously $72 million to $76 million), sales of Captisol of $21 million (unchanged) and contract revenue of $25 million (unchanged).
• These revenue components result in total revenue of $120 million to $124 million (previously $118 million to $122 million) vs. $124.47M consensus.
• Ligand now expects 2023 cash operating expenses of $43 million (previously $46 million), which combined with the increased revenue outlook results in adjusted diluted EPS of $3.30 to $3.45 (previously $3.10 to $3.30).

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