Ligand lifts guidance on higher-than-expected Captisol sales

|About: Ligand Pharmaceuticals Inco... (LGND)|By:, SA News Editor

Ligand Pharmaceuticals (LGND) rallies 6% premarket.

The company is out raising its top- and bottom-line guidance for both Q4 and FY13.

Q4 and FY13 revenues now seen at $14-14.5M (versus previous guidance of $11-12M) and $48-48.5M (versus previous guidance of $45-46M), respectively.

Q4 and FY13 non-GAAP EPS are now seen at $0.31-0.32 (versus previous guidance of $0.22-0.24) and $0.86-0.87 (versus previous guidance of $0.77-0.79), respectively.

LGND cites "higher-than-expected sales of Captisol material." (PR)