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Ligand Pharmaceuticals Reports Earnings that Beat Consensus

Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) reported second quarter EPS of $0.07 versus the estimated $0.06. EPS were up 164 percent year over year. Revenue came in at $9.58 million versus the estimated $9.30 million.

“We have had a very strong first half in 2013, and the coming quarters look promising as we anticipate further growth in royalty revenue, potential approvals for a new royalty-bearing drug and label expansions, NDA filings for partnered products and completing our first full year of operational profitability,” commented John Higgins, President and Chief Executive Officer of Ligand. “We are proud of the important preclinical, clinical, regulatory and business development accomplishments made by Ligand and our partners since the close of the first quarter. Our solid operational execution and financial performance is facilitating our transition to a growth company with strong earnings potential.”

[stock-tools exchange="NASDAQ" symbol="LGND" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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