Revenues Almost Double At Ligand

In 1995, Ligand Pharmaceuticals almost doubled its revenues to $24.5 million, compared with $13.3 million a year earlier. This was attributed in the main to the addition of four new corporate collaborations in the second half of 1994 and the early half of 1995, and growth in revenues from subsidiary Allergan Ligand Retinoid Therapeutic.

The net loss for the year before a one-time charge was $27.1 million, or $1.57 per share. Including the one-time charges of $37.1 million, the net loss was $64.2 million, or $2.70 per share. One-time charges include $19.6 million for the write-off of in-process technology in conjunction with the acquisition of Glycomed and $17.5 million for Ligand's contribution to ALRT.

The firm said that the increase in revenues reflects a full year of activity in collaborations, begun in 1994 with Abbott Laboratories in inflammation and American Home Products in women's health, and new collaborations in 1995 with Sankyo of Japan in inflammation and with SmithKline Beecham relating to signal transducers and activators of transcription for small-molecule drugs to control hematopoiesis.