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Ligand reports 2Q revenues, announces share repurchase program

Ligand Pharmaceuticals Inc. (Nasdaq: LGND) has reported that total revenues for the second quarter of 2014 are expected to be approximately $10.6 million.

This exceeds guidance Ligand issued on May 7, 2014 for total revenues to be $9.0 million to $9.5 million. The incremental increase in revenue over previous guidance will result in additional earnings and cash-flow for the second quarter.

Separately, the company’s board of directors has authorized a share repurchase program of up to $10 million over the next 12 months. With this authorization, the company may repurchase common stock from time to time in open-market transactions.

A second quarter earnings call will be on Monday, Aug. 4 at 6 a.m.

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Ligand Pharmaceuticals Inc.

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10275 Science Center Drive
San Diego, CA 92121