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LIGAND PHARMACEUTICALS INCORPORATED

(LGND)
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Ligand Pharmaceuticals Shares Rise 7% After FDA Approves Vaxneuvance

07/19/2021 | 01:50pm EDT

By Chris Wack

Ligand Pharmaceuticals Inc. shares were up 7% at $120.70 after the company said its partner, Merck, has received approval from the U.S. Food and Drug Administration for Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae in adults 18 years of age and older.

The company said Vaxneuvance is a 15-valent pneumococcal vaccine using its CRM197 vaccine carrier protein, which is produced using the patent-protected Pelican Expression Technology platform.

Under the terms of its licensing agreement with Merck, Ligand earned a $2 million milestone payment upon the FDA's approval of Vaxneuvance and is entitled to a low-single-digit royalty on net product sales.

Merck plans to submit a supplemental regulatory licensure application with the FDA later this year for the use of Vaxneuvance in children.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

07-19-21 1349ET

Stocks mentioned in the article
ChangeLast1st jan.
LIGAND PHARMACEUTICALS INCORPORATED -2.62% 139.18 Delayed Quote.39.95%
MERCK & CO., INC. 0.77% 73.61 Delayed Quote.-10.01%
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Financials (USD)
Sales 2021 270 M - -
Net income 2021 67,7 M - -
Net Debt 2021 - - -
P/E ratio 2021 34,4x
Yield 2021 -
Capitalization 2 321 M 2 321 M -
Capi. / Sales 2021 8,60x
Capi. / Sales 2022 12,5x
Nbr of Employees 155
Free-Float 95,2%
Chart LIGAND PHARMACEUTICALS INCORPORATED
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Ligand Pharmaceuticals Incorporated Technical Analysis Chart | LGND | US53220K5048 | MarketScreener
Technical analysis trends LIGAND PHARMACEUTICALS INCORPORATED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 7
Last Close Price 139,18 $
Average target price 207,86 $
Spread / Average Target 49,3%
EPS Revisions
Managers and Directors
John L. Higgins Chief Executive Officer & Director
Matthew William Foehr President & Chief Operating Officer
Matthew Edward Korenberg Chief Financial Officer & Executive VP-Finance
John W. Kozarich Chairman
Eric Vajda Vice President-Preclinical Research & Development
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