- As I update the Ligand research page due to increasing investor interest and upcoming catalysts (including Promacta HCV phase 3 data and Carfilzomib NDA filing), I am posting some webcast notes that did not make it onto the blog previously.
- Rob McKay (Business Development) joined from ISIS about a year ago
- 19.6m shares outstanding
- (Vfend tablets- Cydex got royalty- are now generic)
- One approved molecular may launch over the next year or so (I think referring to Nexterone from Prism)
- Promacta first approval was based on a single 6 week trial, should launch in Japan 1q2011
- GSK has not said when Promacta HCV data will be released. 3q2011 date based on clinicaltrials.gov website, LGND expects data by ye2011
- Promacta backup compound has 5-7 yr longer patent protection and higher royalties to LGND
- SARM program goal is to be better drug that testosterone- spare adverse effects on prostate, breast, uterus
- Phase1 SARM data will be released 2q2011, this is a key pivot point for partnering discussions
- Muscle health is a new target of interest for pharma research focus
- previous experience with SERM drugs- from partnerships with PFE and WYE, both molecules approved
- Cydex captisol drug master file with FDA (DMF) saves partners 3-4 yrs of formulation work and $10-20m in expenses
- Prism- launch planning is underway, could launch in 2011
- Cydex has partnerships with many companies that LGND also has partnered with
- Conbriza will be the 3rd legacy LGND product to garner royalty income in 2011
- In 4 yrs, decreased operating expenses from $85m to $16-18m
- Chart shows new potential Cydex licenses 2h2011, Cydex clopidogrel (Plavix) license 1q2011
- LGND acquired three companies during recession for total of $40m, their peak valuations were $1.7B combined (Pharmacopeia, Metabasis, Neurogen)
- Nexterone (from Cydex partnership with Prism) will launch within a year or so
- Promacta has now received full approval from FDA- now included data from 6 month study in ITP and chronic liver data and 2 yr safety data
- SARM phase 1 will complete and data released 2q2011
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