LGND - Ligand rises 16% as company sees 2022 earnings above estimates

• Ligand Pharma ( NASDAQ: LGND ) is trading ~16% higher after the company forecast 2022 revenue above estimates, due to higher sales Kyprolis, Rylaze and Teriparatide.
• The company raised 2022 total revenue of $184M to $189M, compared to previous guidance of $133M to $146M. Analysts estimate $181.68M.
• Revenue during the quarter fell 4.0% Y/Y to $66.09M, and beat estimates by by $27.76M. While, Q3 Non-GAAP EPS of $0.41 missed by $0.02.
• Ligand now expects 2022 royalties of $66M to $69M, Captisol sales of approximately $100M and contract revenue of $18M to $20M.
• Ligand expects the contribution from COVID-related Captisol sales to be approximately $2.25 per diluted share, resulting in a total company adjusted earnings per diluted share of $4.30 to $4.45 vs -$1.71 consensus.

For further details see: