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Ligand Pharmaceuticals Incorporated (LGND)

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113.51-5.45 (-4.58%)
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  • l
    longvrts
    I'm puzzled: record earnings as LGND 2Q'21 beats by 20% on revenue and by 33% on EPS; everybody knows LGND will beat by 20-30% their updated '21 guidance. So why only down 4.5% today and 10% in the last week? Would've expected more like a 15% beat down today considering:

    1. The intrinsic value of OmniAb + Captisol + Pelican + Icagen is worth more than $2 Billion as of TODAY, which happens to be more than today's LGND market cap.

    2. Is there no value to CE-Iohexol, 17 mAb's in clinical trials, Pevonedistat, Sparsentan, Teclistamab, etc, etc...?

    3. Did MRK and JAZZ go through the FDA approval process just as a practice run for their regulatory personnel? They have absolutely no intention to market these FDA approved products? V114 will not be competing in a $6 Billion market and Rylaze will not do $300 Million per year in a market all of its own?

    4. Is Takeda running 33 clinical trial with Pevonedistat just as an exercise for their clinical trial personnel? They absolutely have no intention to apply for FDA approval and market Pevo? And grow it into a blockbuster drug?

    5. Do CStone Pharma, Harbour Biomed, Arcus Bio, EQRx, Gloria Pharma, Pfizer have no intention to market Sugemalimab, Zimberelimab, Batoclimab...? They're just doing this as a practice run for their web site designers?

    6. Ditto for Aldeyra, Novan, Marinus, Sermonix and Aptevo? They're doing drug development to provide some training to their summer high school interns?

    Hopefully by the end of next week investors will have done the proper evaluation and taken down LGND to the $40/sh that Citron was touting, and which is, after all, the real value of LGND....
  • J
    JBC
    I have contacted LGND investor relations by phone and email to inquire about the special shareholder meeting in late May and whether or not option grants to employees will have the strike price set by the calendar month end of July. My question is whether management acting in a fiduciary manner and without conflict should have scheduled earnings release before end of July if that is the case.
    Bullish
  • P
    Peter
    Pretty good - and it looks like the debt is down another $50 million. Still, I expect the shorts will like one part:

    "Ligand is adjusting full-year 2021 guidance primarily to reflect lower expected Captisol revenue related to reduced demand for Captisol related to remdesivir which we discussed as a possibility in the first quarter 2021 earnings news release and the related earnings call. Ligand now expects full-year 2021 total revenues to be between $265 million and $275 million, and adjusted earnings per diluted share to be between $5.80 and $6.05. This compares with previous 2021 guidance for total revenues of $291 million and adjusted earnings per diluted share of $6.15."
  • H
    Hubert
    which represented a non-cash valuation adjustment recorded during the quarter to reduce the Pfenex CVR liability due to an expected lower probability of achieving the required milestone under the Pfenex CVR Agreement.

    What does that mean ?
  • l
    longvrts
    Rylaze added to NCCN Guidelines for both pediatric and adult AL leukemia:

    "National Comprehensive Cancer Network® Adds Newly Approved Rylaze™ (asparaginase erwinia chrysanthemi (recombinant)-rywn) to Clinical Practice Guidelines in Oncology for Acute Lymphoblastic Leukemia
    July 22, 2021
    Download PDF
    DUBLIN, July 22, 2021 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced that the National Comprehensive Cancer Network® (NCCN) added Rylaze™ (asparaginase erwinia chrysanthemi (recombinant)-rywn) to the Clinical Practice Guidelines in Oncology (NCCN Guidelines®) for Acute Lymphoblastic Leukemia (ALL), for both pediatric and adult patients.

    The NCCN Guidelines for ALL and the NCCN Guidelines for Pediatric ALL now include asparaginase erwinia chrysanthemi (recombinant)-rywn as a treatment option for patients with hypersensitivity to E. coli asparaginase products as a component of the multi-agent chemotherapeutic regimen to complete the full treatment course.

    "Asparaginase is a core component of chemotherapeutic regimens in ALL and lymphoblastic lymphoma; however, treatments derived from E. coli are associated with the potential for hypersensitivity reactions, which can affect a substantial number of these patients," said Rob Iannone, M.D., M.S.C.E., executive vice president, research and development and chief medical officer at Jazz Pharmaceuticals. "Before the FDA approval of Rylaze, there was a significant need for an effective and reliable supply of asparaginase medicine that would allow patients the opportunity to start and complete their prescribed treatment program with confidence. We are pleased by the NCCN's decision to quickly incorporate Rylaze into the Clinical Practice Guidelines for ALL."

    Rylaze was approved by the U.S. Food and Drug Administration (FDA) on June 30, 2021 for use as a component of a multi-agent chemotherapeutic regimen given by intramuscular injection for the treatment of ALL and lymphoblastic lymphoma (LBL) in adult and pediatric patients 1 month or older who have developed hypersensitivity to E. coli-derived asparaginase.1 The approval followed review of a Biologics Licensing Application under the FDA's Real-Time Oncology Review program, and it was based on clinical data from a pivotal Phase 2/3 trial conducted in collaboration with the Children's Oncology Group.

    The NCCN Guidelines play a pivotal role in decision-making processes for individuals involved in cancer care all over the world, including physicians, nurses, pharmacists, payers, and patients and their families. The guidelines present expert recommendations for cancer screening, diagnosis and treatment, as well as cancer care options that may increase the chances of favorable outcomes for patients.

    The NCCN is a not-for-profit alliance of 30 leading U.S. cancer centers devoted to patient care, research and education that aims to facilitate quality, effective, efficient and accessible care so that patients can live better lives.

    About Rylaze™ (asparaginase erwinia chrysanthemi (recombinant)-rywn)
    Rylaze, also known as JZP458, is approved in the U.S. for use as a component of a multi-agent chemotherapeutic regimen for the treatment of acute lymphoblastic leukemia (ALL) and lymphoblastic lymphoma (LBL) in adult and pediatric patients 1 month or older who have developed hypersensitivity to E. coli-derived asparaginase. Rylaze has orphan drug designation for the treatment of ALL/LBL in the United States. Rylaze is a recombinant erwinia asparaginase that uses a novel Pseudomonas fluorescens expression platform. JZP458 was granted Fast Track designation by the U.S. Food and Drug Administration (FDA) in October 2019 for the treatment of this patient population. Rylaze was approved as part of the Real-Time Oncology Review program, an initiative of the FDA's Oncology Center of Excellence designed for efficient delivery of safe and effective cancer treatments to patients.

    The full U.S. Prescribing Information for Rylaze is available at:
  • A
    Anonymous
    Like clockwork LGND will end up going down over 10 dollars between yesterday and today after earnings are released. It's been like that the last 3 quarters. So manipulate.
    Management should just put LGND up for sale"
  • J
    JBC
    Captisol-enabled drug delivery licensing will remain a core growth driver of LGND revenue and return to to a pre-pandemic growth rate as Remdesivir winds down. But management didn’t rule out that there could be a substantial “tail” of Remi revenue going forward. Again, they are being conservative. Besides, the Omni-AB platform is about to kick-in in spade$.
    Bullish
  • T
    Thom
    It's like playing blackjack where the dealer takes your money regardless of what your hand is.
  • l
    longvrts
    7/27 LGND OmniAb partner Teneobio bought out by AMGN in $2.5 Billion deal
    (tried to copy and paste report but Yahoo took it down for some reason)
  • d
    domenico
    GILEAD said in the earning report that sales of REM will increase in the second half of the year .Why we say that Captisol sales will decrease ??????
  • J
    JBC
    Results awesome. Lowered 2021 full year revenue guidance approximately 10% and earnings up to 6%, but diminished focus on Remdesivir Captisol sales, a positive. And they finally paid down some debt with that cash pile.
    Bullish
  • J
    JBC
    The current shirt interest ratio for LGND is 12.17% based on an average daily trading volume of about 130 K.
    Any theories and why the average daily trading volume has fallen so much since the beginning of the year when it was closer to 500 K? My guess is it’s related to the margin-ability of LGND and / or a major market maker was sanctioned by the SEC.
    Bullish
  • T
    Thom
    if Yahoo is to be believed, a 0 share sale sent the stock down more than 3 points That's a new record, even for LGND...
  • A
    Anonymous
    This is ridiculous, so even though I am already waaayy overweight LGND, I bought more today. On the
    transaction priced at 115.00, some of the transaction lots were single shares which to me suggests continued
    manipulation by someone interested in the price going down. Future is extremely bright. Holding for the long-term (at least 2-3 years),
    when I anticipate the price will be north of $400. Best of luck to all longs.
    Ed
  • D
    Drunken Yeti
    Blew the numbers away. $84.7 Mil in revenue. $1.79 earnings. That's a winner, winner chicken dinner.
  • d
    domenico
    Why management did lower guidance ?There was no need to do so .REM ,according to GILEAD will continue to sell good .few new royalty will come on stream ,things look good and for some nefarious reason ,i believe ,they lowered guidance !!!!! Management ,you responsibility is to us .Wake up and enjoy the stock going up instead of down .
  • A
    Anonymous
    after last 3 earnings calls saw stock drop double didgets
    hope they raise guidance. Need to announce new partnerships
  • A
    Anonymous
    how about AMGN buy out LGND
  • l
    longvrts
    7/16 MRK/LGND news: v114 (VAXNEUVANCE):

    "Merck Announces U.S. FDA Approval of VAXNEUVANCE™ (Pneumococcal 15-valent Conjugate Vaccine) for the Prevention of Invasive Pneumococcal Disease in Adults 18 Years and Older Caused by 15 Serotypes
    Clinical Data Supporting Approval Demonstrated Non-Inferior Immune Responses for the Serotypes Shared with PCV13 (1, 3, 4, 5, 6A, 6B, 7F, 9V, 14, 18C, 19A, 19F and 23F)

    VAXNEUVANCE Elicited Superior Immune Responses for Serotypes 3, 22F and 33F Compared to PCV13, Which Are Major Causes of Disease

    July 16, 2021 05:15 PM Eastern Daylight Time
    KENILWORTH, N.J.--(BUSINESS WIRE)--(NYSE: MRK), known as MSD outside the United States and Canada, today announced the U.S. Food and Drug Administration (FDA) approved VAXNEUVANCE™ (Pneumococcal 15-valent Conjugate Vaccine) (pronounced VAKS-noo-vans) for active immunization for the prevention of invasive disease caused by Streptococcus pneumoniae serotypes 1, 3, 4, 5, 6A, 6B, 7F, 9V, 14, 18C, 19A, 19F, 22F, 23F and 33F in adults 18 years of age and older. The approval follows the FDA’s Priority Review of Merck’s application. VAXNEUVANCE is contraindicated for individuals with a history of severe allergic reaction (e.g., anaphylaxis) to any component of VAXNEUVANCE or to diphtheria toxoid; see additional Select Safety Information below.

    The U.S. Centers for Disease Control and Prevention’s (CDC) Advisory Committee on Immunization Practices (ACIP) is expected to meet in October to discuss and make recommendations on the use of VAXNEUVANCE in adults.

    VAXNEUVANCE was approved based on data from seven randomized, double-blind clinical studies assessing safety, tolerability, and immunogenicity in adults (see “Clinical Data Supporting FDA Approval” below for additional details). Clinical data showed that immune responses elicited by VAXNEUVANCE were non-inferior to the currently available 13-valent pneumococcal conjugate vaccine (PCV13) for the 13 shared serotypes, as assessed by opsonophagocytic activity (OPA) Geometric Mean Titers (GMTs).

    Additionally, immune responses for VAXNEUVANCE were superior to PCV13 for shared serotype 3 and for the two serotypes unique to VAXNEUVANCE, 22F and 33F. In the pivotal Phase 3 PNEU-AGE (V114-019) study, superiority for VAXNEUVANCE relative to PCV13 was based on statistically significantly greater OPA GMT ratios for serotypes 22F [GMT Ratio 32.52 (95% Confidence Interval (CI) 25.87, 40.88)] and 33F [GMT Ratio 7.19 (95% CI 6.13, 8.43)], as well as for the key secondary objective assessing serotype 3 [GMT Ratio 1.62 (95% CI 1.40, 1.87)]. Randomized controlled trials assessing the clinical efficacy of VAXNEUVANCE compared to PCV13 have not been conducted.

    “Some adults, including older adults or those with certain chronic medical conditions or immunocompromising conditions, are at increased risk for pneumococcal disease and its serious, sometimes life-threatening complications,” said Dr. Jose Cardona, Indago Research and Health Center, coordinating investigator for the PNEU-AGE trial. “The FDA’s approval of VAXNEUVANCE is based on robust Phase 2 and 3 studies assessing immune responses in a broad range of adult populations and provides an important new option in protection from invasive pneumococcal disease.”
  • A
    Anonymous
    I have a question about the market potential for the Merck V114 vaccine. I assumed mega-blockbuster sales since it is an improvement over Pfizer's Prevnar-13. However the FDA recently approved a new Prevnar-20, which covers 5 more strains than the Merck product. Will the Ligand Pelican Expression technology be able to give Merck a significant cost advantage to better compete with the Pfizer version??