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Ligand inks deal with Omthera Pharma

San Diego-based Ligand Pharmaceuticals (Nasdaq: LGND) has signed a licensing agreement and research collaboration with Omthera Pharmaceuticals, a wholly-owned subsidiary of AstraZeneca (NYSE: AZN), for the development of products to treat dyslipidemia, a high concentration of cholestorol, fat or other lipids in the blood.

Under the terms of the agreement, Ligand will be eligible to receive payments of up to $44.5 million upon the achievement of specific milestones, as well as tiered royalties ranging from mid to high single digits of net sales.

The research agreement will aim at developing products using Ligand's LTP Technology to improve lipid-lowering activity of certain omega-3 fatty acids.

Omthera is solely responsible for all research and clinical development costs as well as commercialization of any products derived from the agreement.

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Ligand Pharmaceuticals

Company Website

11119 N. Torrey Pines Rd. Ste., 200
La Jolla, CA 92037

Company Trade Data

Stock Symbol Close
Change
Chg %Chg
Volume
52-Week
High Low
LGND
93.08
  -2.14  
- 2.25%
292,058,000
112.4
45.61

Insider Trade Data

Date Insider Shares Type Value
08/17/2015 Knott, David M 4,000 Sell $383,937
08/17/2015 Knott, David M 4,000 Sell $383,937
08/13/2015 Knott, David M 50,000 Sell $4,813,782
08/07/2015 Knott, David M 200 Sell $19,803
08/06/2015 Davis, Todd C 19,670 Exchange $232,288

Ligand Pharmaceuticals Executive(s):

John Higgins

  • Chief Executive Officer, President

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NAICS - 541711 - Research and Development in Biotechnology