Ligand Pharma Raises 2018 Financial Guidance - Quick Facts

(RTTNews) - Ligand Pharmaceuticals Incorporated (LGND) raised its previous guidance for 2018 and now expects revenue to be approximately $240 million, including royalties of approximately $122 million, material sales of approximately $25 million and license fees and milestones of approximately $93 million, with the potential for up to an additional $5 million in license fees and milestones. Ligand projects adjusted earnings per diluted share would be approximately $6.52. The company's previous guidance was revenue of approximately $232 million, and adjusted earnings per diluted share of approximately $6.30.

Adjusted net income for the third quarter of 2018 was $31.7 million, or $1.32 per diluted share, compared with $15.3 million, or $0.69 per diluted share, for the same period in 2017. Total revenues were $45.7 million, compared with $33.4 million for the same period in 2017.