Collaborations Boost Revenues At Ligand
US company Ligand Pharmaceuticals achieved revenues in the second quarter of 1996 of $8.5 million, up 57.4%. In the six-month period revenues advanced 73% to $17.3 million.
The firm said that the rises were due to revenue from Allergan Ligand Retinoid Therapeutics (Marketletter August 19), plus the full six-month effect of the collaborative agreements with SmithKline Beecham, which started in February 1995, and Sankyo, and an extended collaboration with American Home Products, as well as a milestone payment from Pfizer.
The net loss in the second quarter of 1996 was $10 million, down from $41.5 million a year earlier. The loss per share was 36 cents, compared with $1.87 in the 1995 second quarter. For the first half, the net loss fell from $47.3 million in 1995 to $17.1 million. The loss per share was 61 cents, down from $2.33 a year earlier.
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