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Ligand (LGND) Signs Licensing Deals with Ono and Novartis
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Ligand Pharmaceuticals Incorporated (LGND - Free Report) announced that it has entered into a worldwide license agreement with Ono Pharmaceutical Co., Ltd., under which Ono will use its OmniAb platform for the discovery of fully human mono- and bispecific antibodies.
Note that OmniAb includes three transgenic animal platforms – OmniRat, OmniMouse and OmniFlic – for producing mono- and bispecific human therapeutic antibodies.
This deal will see Ligand receiving annual platform access payments, development milestones and royalties for each product developed under the collaboration using an OmniAb antibody. Meanwhile, Ono will be responsible for all costs related to the programs.
Ligand’s three month share price movement shows that the stock has marginally outperformed the Zacks classified Medical - Biomedical and Genetics industry. Specifically, Ligand has plunged 11.1% during this period, while the industry lost 11.5%.
We remind investors that OmniAb, an antibody-generating platform, became part of Ligand’s technology portfolio following its Jan 2016 acquisition of OMT, Inc.
In a separate press release, Ligand announced that it has entered into a global license and supply agreements with Novartis AG (NVS - Free Report) for the development and commercialization of a Captisol-enabled oral liquid formulation of Mekinist (trametinib). It is currently approved, as a single agent or in combination with Tafinlar (dabrafenib), for the treatment of patients with unresectable or metastatic melanoma with BRAF V600 mutation.
Pursuant to the agreement, Ligand will be eligible to receive a license fee, royalties on future net sales, and Captisol material sales. Novartis, on the other hand, will be responsible for all costs related to the program.
We are positive on the latest agreements. Ligand’s Captisol formulation as well as its OmniAb technology has resulted in partnerships with several leading health care companies including Amgen Inc. (AMGN - Free Report) . Such deals provide the company with funds in the form of milestones, royalty and other payments, thereby boosting its top line.
Ligand currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the health care sector is Cambrex Corporation , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cambrex’s earnings estimates increased from $2.46 to $2.55 for 2016 and from $2.91 to $3.06 for 2017 over the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters with an average beat of 19.78%. Its share price has increased 11.8% year to date.
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Ligand (LGND) Signs Licensing Deals with Ono and Novartis
Ligand Pharmaceuticals Incorporated (LGND - Free Report) announced that it has entered into a worldwide license agreement with Ono Pharmaceutical Co., Ltd., under which Ono will use its OmniAb platform for the discovery of fully human mono- and bispecific antibodies.
Note that OmniAb includes three transgenic animal platforms – OmniRat, OmniMouse and OmniFlic – for producing mono- and bispecific human therapeutic antibodies.
This deal will see Ligand receiving annual platform access payments, development milestones and royalties for each product developed under the collaboration using an OmniAb antibody. Meanwhile, Ono will be responsible for all costs related to the programs.
Ligand’s three month share price movement shows that the stock has marginally outperformed the Zacks classified Medical - Biomedical and Genetics industry. Specifically, Ligand has plunged 11.1% during this period, while the industry lost 11.5%.
We remind investors that OmniAb, an antibody-generating platform, became part of Ligand’s technology portfolio following its Jan 2016 acquisition of OMT, Inc.
In a separate press release, Ligand announced that it has entered into a global license and supply agreements with Novartis AG (NVS - Free Report) for the development and commercialization of a Captisol-enabled oral liquid formulation of Mekinist (trametinib). It is currently approved, as a single agent or in combination with Tafinlar (dabrafenib), for the treatment of patients with unresectable or metastatic melanoma with BRAF V600 mutation.
Pursuant to the agreement, Ligand will be eligible to receive a license fee, royalties on future net sales, and Captisol material sales. Novartis, on the other hand, will be responsible for all costs related to the program.
We are positive on the latest agreements. Ligand’s Captisol formulation as well as its OmniAb technology has resulted in partnerships with several leading health care companies including Amgen Inc. (AMGN - Free Report) . Such deals provide the company with funds in the form of milestones, royalty and other payments, thereby boosting its top line.
LIGAND PHARMA-B Price
LIGAND PHARMA-B Price | LIGAND PHARMA-B Quote
Zacks Rank & a Key Pick
Ligand currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the health care sector is Cambrex Corporation , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cambrex’s earnings estimates increased from $2.46 to $2.55 for 2016 and from $2.91 to $3.06 for 2017 over the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters with an average beat of 19.78%. Its share price has increased 11.8% year to date.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>