Ligand Pharma Updates Annual Guidance As It Spins Out Pelican Subsidiary
Portfolio Pulse from Vandana Singh
Ligand Pharmaceuticals has entered into a merger agreement with Primrose Bio, making its subsidiary, Pelican Technology Holdings, a wholly owned subsidiary of Primrose Bio. Ligand retains commercial royalties related to Pelican Expression Technology and will own 49.9% of Primrose Bio. Ligand has also updated its annual guidance, increasing adjusted EPS guidance and modifying revenue guidance.
September 19, 2023 | 5:16 pm
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Ligand Pharmaceuticals' merger with Primrose Bio and updated annual guidance could impact its stock.
The merger with Primrose Bio and the updated annual guidance, which includes increased adjusted EPS guidance and modified revenue guidance, could have a positive impact on Ligand Pharmaceuticals' stock in the short term.
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