Ligand raises low end of guidance range

Revenue at Ligand Pharmaceuticals (LGND) more than doubles Y/Y in Q3. The increase is attributable to a 78% increase in royalty revenues (Promacta and Kyprolis) and the timing of Captisol purchases.

FY13 outlook: Adjusted EPS of $0.49-0.51 on revenue of $45-46M versus previous guidance of $0.47-0.51/share on sales of $43-46M. (PR)

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