Ligand Pharmaceuticals (LGND +4.3%) moves up after saying it's received an equity milestone...

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

Ligand Pharmaceuticals (LGND +4.3%) moves up after saying it's received an equity milestone payment of 620K shares of common stock in newly public partner Retrophin, as partial payment for the license agreement of Retrophin's lead clinical candidate RE-021, a treatment for focal segmental glomerulosclerosis, which is a rare disease that attacks the kidney's filtering system. The shares issued represent about 7% of Retrophin's outstanding float.