Ligand Pharmaceuticals

Congratulations to our long-time partner Viking Therapeutics, Inc. who announced positive 52-week histologic data from their Phase 2b voyage study of VK2809 in patients with biopsy-confirmed non-alcoholic steatohepatitis (NASH). The study successfully achieved its primary endpoint after 12 weeks of treatment, and affirmed VK2809's potent effect on liver fat, along with its favorable tolerability and safety profile. Yesterday's results also highlighted that VK2809 achieved its secondary endpoints evaluating histologic changes assessed by hepatic biopsy after 52 weeks of treatment with VK2809. NASH is a very large potential market. If Viking is successful in their development of VK2809, the program will address a multi-billion dollar market opportunity. Ligand earns a 3.5% -7.5% royalty on potential sales of VK2809 as well as significant clinical, regulatory, and commercial milestones. Read the announcement here: https://prn.to/3KqU8fQ

We are pleased to share that Ligand CEO Todd Davis and CFO Tavo Espinoza will be participating in one-on-one investor meetings at the Craig-Hallum Capital Group Institutional Investor Conference in Minneapolis next week and will be presenting at the Goldman Sachs Global Healthcare Conference in Miami on June 12. To learn more: https://bit.ly/3WW8yfC

On Tuesday we announced our first quarter 2024 financial results. On the earnings call, CEO Todd Davis, and members of the Ligand senior management team, highlighted our positive momentum during the first quarter, the significant progress of our commercial and development stage portfolio including our recent #royaltyfinancing agreement with Agenus and the launch of Pelthos Therapeutics, and the key growth drivers for the remainder of the year. View our earnings release here: https://bit.ly/4acV1D5

We are excited to announce our latest #royaltymonetization with Agenus. This partnership gives Ligand an interest in multiple oncology products diversified across different targets and indications. Our investment team spent a significant amount of time and effort conducting diligence on each of these unique and valuable assets and we are enthusiastic about the potential of Agenus’ partnered portfolio and the company’s broad and highly differentiated botensilimab and balstilimab (BOT/BAL) clinical development program. Under the terms of the agreement, Ligand is entitled to receive royalties and milestone payments on six Agenus-partnered oncology programs and royalties on future global net sales generated by BOT/BAL. This partnership will support Agenus’ planned confirmatory Phase 3 trial in its lead indication of patients with metastatic, relapsed/refractory colorectal cancer not microsatellite instability-high or deficient mismatch repair, who are without active liver metastases, which received Fast Track Designation from the FDA in April 2023. Read the announcement here: https://bit.ly/3wAqOQF

#FILSPARI is an important part of our #drugroyalty portfolio. Today FILSPARI became the first non-immunosuppressive therapy for the treatment of IgA nephropathy, a rare kidney disease and a leading cause of kidney failure, approved in Europe. Congratulations to Travere Therapeutics and CSL Vifor on this incredible milestone. CSL Vifor expects to launch FILSPARI in the first European markets in the second half of 2024 and Ligand is entitled to net royalties of 9% on future global net product sales. Read more: https://lnkd.in/gKcXT-2Q

On May 7 we will report Q1 2024 financial results after the close of the U.S. financial markets followed by a conference call at 4:30pm ET. Register: https://bit.ly/3WdLqJa

Congratulations to the Pelthos Therapeutics team on another step forward toward bringing #ZELSUVMI, a novel at-home treatment for molluscum contagiosum, to the patients who need it. We are honored to have senior biopharmaceutical executives Peter Greenleaf and Matthew Pauls join the Pelthos Board of Directors. Read the announcement ⬇

Today we announced the launch of Pelthos Therapeutics, a biopharmaceutical company focused on commercializing innovative, safe, and efficacious therapeutic products to help patients impacted by diseases with limited treatment options. Pelthos was formed to accelerate the commercialization of #ZELSUVMI, the first novel drug and at-home treatment for molluscum infections approved by the FDA. Ligand acquired the rights to ZELSUVMI in September 2023. In conjunction with the launch, we also announced the appointment of Scott Plesha as CEO. Scott has more than 30 years of experience in the pharmaceutical industry including two decades building and leading specialty pharmaceutical commercial organizations, most recently as President and Chief Commercial Officer of BioDelivery Sciences. We are excited to have such an accomplished executive lead the company into its next phase of growth. Read the announcement here: https://bit.ly/3J48r9v

Earlier this week Ligand partner Merck announced positive data from multiple Phase 3 studies evaluating V116, the company’s investigational, adult-specific 21-valent pneumococcal conjugate vaccine, at the Meeting of the International Society of Pneumonia and Pneumococcal Diseases. Across the clinical studies presented, V116 was shown to be immunogenic for all 21 serotypes covered by the vaccine in a variety of adult populations. Merck has been making tremendous strides with V116, and we are pleased to see their continued progress in bringing this investigational vaccine to market. The FDA granted V116 priority review with a PDUFA or target action date of June 17, 2024. If approved, V116 would be the first vaccine of its kind specifically designed for adults and Ligand would be entitled to a royalty on worldwide net sales. Read more from Merck here: https://ow.ly/uJQa50QZxAs

Today our long-term partner Travere Therapeutics announced the submission of a supplemental New Drug Application to the FDA to convert the existing U.S. accelerated approval of #FILSPARI (sparsentan) in IgA nephropathy to full approval. We are pleased to see the continued progress of this critical drug, the first and only non-immunosuppressive therapy approved for the treatment of this rare kidney disease. Ligand currently receives a 9% royalty on global sales of FILSPARI. Read the announcement ⬇