SAN DIEGO (AP) _ Ligand Pharmaceuticals Inc. (LGND) on Thursday reported a fourth-quarter loss of $7.4 million, after reporting a profit in the same period a year earlier.
The San Diego-based company said it had a loss of 43 cents per share. Earnings, adjusted for one-time gains and costs, were 71 cents per share.
The drugmaker posted revenue of $27 million in the period.
For the year, the company reported profit of $629.3 million, or $31.85 per share. Revenue was reported as $120.3 million.
Ligand expects full-year earnings to be $2.52 per share, with revenue expected to be $121 million.
Ligand shares have dropped 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $92.48, a drop of 21% in the last 12 months.