- Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) announced plans to split into two separate publicly traded companies.
- One company will feature the OmniAb business, and the other housing Ligand’s existing royalties and technologies, including its Pelican protein expression platform and Captisol solubility tech.
- “After significant planning and analysis, we have concluded we are operating two distinct, high-growth companies within Ligand,” CEO John Higgins said in a statement. “Along with outside advisors, we have determined the time is right to pursue a strategic plan to create two independent companies and accelerate investment into the OmniAb platform and technologies to drive value further.
- Ligand posted Q3 sales of $64.83 million, +55% Y/Y/, beating the consensus of $55.65 million. EPS of $1.58 came in above the consensus of $1.04.
- Ligand had cash, cash equivalents, and short-term investments of $323.2 million.
- Ligand is reaffirming 2021 financial guidance and expects sales of $265 million – $275 million and adjusted EPS of $5.80 – $6.05.
- Price Action: LGND shares are up 9.38% at $166.12 during the market session on the last check Wednesday.
LFTD Partners Lowers Its Secured Debt, Here Are The Details
LFTD Partners Inc. (OTCQB: LIFD) has prepaid an additional $916,666 of the principal of its $1,833,334 note payable relating to the purchase of its subsidiary Lifted Made, Kenosha, WI, using free cash flow generated by Lifted Made's operations.
