Develops and markets new drugs that address critical unmet medical needs in the areas of cancer, mens and womens health, skin diseases, osteoporosis, and metabolic, cardiovascular and inflammatory diseases.
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I've been looking for a bigger pullback in Ligand given weak knees in the past but I'm getting tired of standing on the sidelines as the company continues to progress its pipeline. Mixed news on Fablyn since my last pitch - a Complete Response from the FDA but EMEA approval. I was expecting negative news from the FDA which is part of the reason I kept my green thumb off the stock in recent weeks. They should start booking Promacta royalty revenue within the next quarter or two. Wyeth continues to pursue FDA approval of bazedoxifene, LGD-4665 continues in a phase II trial with Glaxo, and the Pharmacopeia pick-up PS433450 recently had more positive phase II results in hypertension. Despite positive developments the share price remains well below year-ago levels. A strong cash position gives the company time to prove they can book revenues and continue to make deals with large pharma on late stage pipeline candidates.