The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Matt Hewitt - Craig-Hallum Capital Group - Analyst
: Yes, can you hear me?
Question: Matt Hewitt - Craig-Hallum Capital Group - Analyst
: Okay. Well, congratulations on an active quarter. Maybe first up, starting with the Pelthos opportunity, an update on how those partnership
discussions are going. And once that asset is kind of spun off, do you anticipate recovering these upfront cost that you've been putting into the
business here since you acquired the asset?
Question: Matt Hewitt - Craig-Hallum Capital Group - Analyst
: Excellent. And then maybe one for me and one more, and then I'll hop back in the queue. But regarding Qarziba, how should we be thinking about
the growth of that asset? We don't have -- I don't have a good sense for how fast those revenues are growing and what that would mean for your
royalty stream? Thank you.
Question: Douglas Miehm - RBC Capital Markets - Analyst
: Yeah, good afternoon. A couple of questions. First one, maybe if you could talk about H2 '24 and the outlook and maybe sizing of potential deals
that you're contemplating. I believe you like to spend $200 million -- maybe $250 million a year for these investments. And I'm just wondering, if
we're thinking about things in the range of [25] to [75] through to the end of 2024?
Question: Douglas Miehm - RBC Capital Markets - Analyst
: That's great. Thank you. And then as you look at the new product Ohtuvayre, and its potential launch, well, I guess shortly, we know pricing now.
They've already set up meetings. Obviously, going to be an exciting product for the company. I'm curious that that royalty, the $13.8 million on
milestone should come in Q3. Would that be fair?
Question: Douglas Miehm - RBC Capital Markets - Analyst
: Yeah. Okay. That makes sense. And then just let me wrap up with, you have increased the line, although it doesn't look like you need to use it. But
under what circumstances would you expect to draw on the line that is available to you? And I'll wrap it up there. Thank you.
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AUGUST 06, 2024 / 8:30PM, LGND.OQ - Q2 2024 Ligand Pharmaceuticals Inc Earnings Call
Question: Douglas Miehm - RBC Capital Markets - Analyst
: Thank you.
Question: Douglas Miehm - RBC Capital Markets - Analyst
: Thanks.
Question: Lawrence Solow - CJS Securities - Analyst
: Good afternoon. I echo the congrats on an active and good quarter. I guess, first question, just to clarify. So the guidance change, which you did a
few weeks back, essentially $10 million of the royalties that's from the Apeiron acquisition, and then there's timing. And I mean not timing. There's
the milestone payments for the remainder? Basic essentially, is that --
Question: Lawrence Solow - CJS Securities - Analyst
: Okay. Great. And then, I'm just curious just on sourcing. So it looks like you acquired this asset for basically about 5 times royalty. And it sounds like
it's not there's some -- it's growing and doesn't include the US, which could potentially accelerate growth. Just curious on, how this asset came
about, sourcing of it, and whatnot. It's without divulging any secret sauce, but just curious if there's anything you could share?
Question: Lawrence Solow - CJS Securities - Analyst
: Got it. Great. If I could just switch gears and squeeze one more in. Just on the Capvaxive, just another follow-up question on that. Again, not looking
at the slot as an exact sign, but it looks like based on what Vaxneuvance is today and my limited knowledge on this market, is this the pneumococcal
vaccine, the market in general, right? I guess it's adult and has a pediatric side.
Is the adult market today as big or even bigger than the pediatric? I guess is question A. And then B, is this ACIP recommendation a change from
what historical or standard of care is today? That's it. Thanks.
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AUGUST 06, 2024 / 8:30PM, LGND.OQ - Q2 2024 Ligand Pharmaceuticals Inc Earnings Call
Question: Lawrence Solow - CJS Securities - Analyst
: Okay, great. Thank you.
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