Remdesivir

JUPITER, Fla.--( BUSINESS WIRE )--Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) today announced that Chief Executive Officer Todd Davis and Chief Financial Officer Tavo Espinoza will present at the Stifel 2024 Healthcare Conference in New York on Tuesday, November 19, 2024, at 12:40 p.m. Eastern Time. Management is scheduled to host one-on-one meetings with investors and attendees during the conference. Investors interested in arranging one-on-one meetings should contact their Stifel representative. About Ligand Pharmaceuticals Ligand is a biopharmaceutical company enabling scientific advancement through supporting the clinical development of high-value medicines. Ligand does this by providing financing, licensing our technologies or both. Its business model seeks to generate value for stockholders by creating a diversified portfolio of biopharmaceutical product revenue streams that are supported by an efficient and low corporate cost structure. Ligand’s goal is to offer investors an opportunity to participate in the promise of the biotech industry in a profitable and diversified manner. Its business model focuses on funding programs in mid- to late-stage drug development in return for economic rights, purchasing royalty rights in development stage or commercial biopharmaceutical products and licensing its technology to help partners discover and develop medicines. Ligand partners with other pharmaceutical companies to leverage what they do best (late-stage development, regulatory management and commercialization) in order to generate its revenue. Ligand’s Captisol® platform technology is a chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. Ligand has established multiple alliances, licenses and other business relationships with the world’s leading biopharmaceutical companies including Amgen, Merck, Pfizer, Jazz, Takeda, Gilead Sciences, and Baxter International. For more information, please visit www.ligand.com . Follow Ligand on X @Ligand_LGND. We use our investor relations website and X as a means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. Investors should monitor our website and our X account, in addition to following our press releases, SEC filings, public conference calls and webcasts.

Gilead said its Covid-19 antiviral Veklury had $692 million in third-quarter sales, far more than the $270 million Wall Street analysts had projected. Gilead’s shares $GILD were up 3% in after-hours trading. The company said the unexpectedly high sales of Veklury were mainly due to increased Covid-19 hospitalizations, particularly in the US. Late last month, Pfizer raised its 2024 revenue guidance because of increased sales of its Covid-19 drug Paxlovid. As for its HIV drugs, Gilead said that Biktarvy generated $3.5 billion in sales in Q3, a 13% increase compared to the same period in 2023. Meanwhile, Descovy sales were $586 million in the recent quarter, which was 15% higher than last year’s. Overall, Gilead made $5.1 billion from HIV drug sales. Elsewhere, Gilead recorded another $1.75 billion impairment charge related to its antibody-drug conjugate Trodelvy, which it acquired when it bought Immunomedics for $21 billion in 2020. The company already reported a $2.4 billion charge because of the TROP2-directed ADC in April. The latest write-off is due to the drug failing its pivotal study in second and later-line non-small cell lung cancer, where Gilead said it was discontinuing development. In October, Gilead withdrew the accelerated approval for Trodelvy in bladder cancer. The company is moving forward with a pivotal test in first-line lung cancer patients, where its competitors AstraZeneca and Daiichi Sankyo are also studying their TROP2 ADC.