Ligand Pharmaceuticals Incorporated (LGND) Q4 2024 Earnings Call Transcript

2025-02-27 15:06:57 ET

Ligand Pharmaceuticals Incorporated (LGND)

Q4 2024 Earnings Conference Call

February 27, 2025 8:30 A.M. ET

Company Participants

Melanie Herman - Senior Director of Financial Planning and Analysis

Todd Davis - CEO

Paul Hadden - Senior Vice President of Investments and Business Development

Tavo Espinoza - Chief Financial Officer

Lauren Hay - Vice President of Strategic Planning and Investment Analytics

Conference Call Participants

Matt Hewitt - Craig-Hallum

Joseph Pantginis - HC Wainwright

Douglas Miehm - RBC Capital Markets

Trevor Allred - Oppenheimer

Larry Solow - CJS Securities

John Vandermosten - Zack

Presentation

Melanie Herman

Good morning everyone and welcome to Ligand’s Fourth Quarter and Full Year 2024 Earnings Call. During the call today, we will review the financial results we released earlier today and provide commentary on our partner pipeline and business development activity, followed by a question and answer session.

Our earnings release and a link to today's webcast can be found in the investor relations section of our website at ligand.com. With me on the call today are CEO Todd Davis; Paul Hadden, Senior Vice President of Investments and Business Development; Chief Financial Officer, Tavo Espinoza; and Vice President of Strategic Planning and Investment Analytics, Lauren Hay. This call is being recorded and the audio portion will be archived in the investor section of our website. On today's call, we will make forward-looking statements regarding our financial results and other matters related to the company's business.

Please refer to the Safe Harbor statement related to these forward-looking statements, which are subject to risks and uncertainties. We remind you that actual events or results may differ materially from those projected or discussed and that all forward-looking statements are based upon current available information. Ligand assumes no obligation to update these statements. To better understand the risks and uncertainties that could cause actual results to differ, we refer you to the documents that Ligand files with the Securities and Exchange Commission or SEC that can be found on Ligand's website at ligand.com or on the SEC's website at SEC.gov. With that, I will now turn the call over to Todd.

Todd Davis

Thank you, Melanie. Good morning everyone, and thank you for joining our call. I am delighted to report an outstanding quarter and full-year results for Ligand. 2024 was a strong year of execution and performance for Ligand. We grew our top line, expanded our portfolio of commercial stage royalty assets, and added to our pipeline of development stage royalty opportunities. Over the past two years we've been able to transform Ligand into a profitable economically diversified, and infrastructure light organization. We remained focused on identifying and investing in highly differentiated royalty assets and operating our royalty generating platform technologies that we believe will generate significant long-term shareholder value. Our portfolio of major commercial programs delivers predictable and growing royalty revenue and is the foundation of our strong financial performance this year....

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