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Ligand Earns $6 Mln As HanAll Out-Licenses Antibody Projects

Ligand Pharmaceuticals Inc. (LGND) Wednesday said it earned $6 million through the out-licensing of an antibody projects through its partner HanAll Biopharma. The antibody project has utilised Ligand's OmniAb antibody discovery platform.

Under the license agreements with HanAll, Ligand is eligible to receive milestones and royalties on the successful development of antibodies and to share sub-license revenue on out-licensed antibodies.

Ligand said one of its novel antibodies moved into human trials in 2017 and in subsequently secured two license agreements for the antibody.

Ligand now anticipates total revenue for full year 2017 to be approximately $140 million with adjusted earnings per share to be between $3.13 and $3.16. Previous guidance was for revenue to be between $134 and $136 million and for adjusted earnings per share to be between $2.95 and $3.00.

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