July 30, 2021 -- Ligand Pharmaceuticals reported record numbers for the second quarter of 2021.
The company reported total revenues at a record $84.7 million, compared with $41.4 million for the same period in 2020. Contract revenue was $13.6 million, compared with $9.8 million for the same period in 2020. Company leaders said the increase is mainly due to the timing of partner milestone events and the acquisition of Pfenex in October 2020.
Net income for the second quarter was $30.7 million versus a net income of $22.1 million for the same period in 2020.
Company leaders said they anticipate multiple regulatory approvals of drugs based on the company's technologies that will drive royalty revenue in 2022 and beyond.
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