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January 9, 2013
09:02 EDTLGNDLigand Pharmaceuticals receives equity milestone payment from Retrophin
Ligand Pharmaceuticals has received a milestone payment of 620,000 shares of common stock in newly public partner Retrophin. The milestone arose under the previously executed license agreement for the development and commercialization of Retrophin’s lead clinical candidate RE-021, formerly known as DARA and was triggered by the completion of Retrophin’s merger with Desert Gateway and its transition to a publicly traded company. Ligand will record milestone revenue equal to the estimated fair value of the shares received, which will be determined by an independent valuation firm. The shares issued to Ligand represent approximately 7% of Retrophin’s outstanding capital stock and may be subject to certain trading restrictions. Ligand believes that Retrophin expects to begin enrollment in a Phase 2 clinical trial known as “FONT-3” during the first half of 2013.
News For LGND From The Last 14 Days
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October 27, 2014
08:03 EDTLGNDLigand sees Q4 EPS 57c-62c, consensus $67c
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08:02 EDTLGNDLigand still sees FY14 EPS $1.50-$1.55, consensus $1.54
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08:01 EDTLGNDLigand reports Q3 EPS 36c, consensus 31c
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October 23, 2014
09:23 EDTLGNDLigand price target raised to $121.50 from $92 at Roth Capital
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