RTTNews | Feb 3, 2021 07:48AM EST

07:47 Wednesday, February 3, 2021 (RTTNews.com) - While reporting financial results for the fourth quarter on Wednesday, biopharmaceutical company Ligand Pharmaceuticals Inc. (LGND) raised its adjusted earnings and revenue guidance for the full-year 2021.

For fiscal 2021, Ligand initiated guidance for adjusted earnings of about $6.15 per share on total revenues of about $291 million.

Previously, the company expected adjusted earnings of about $6.00 per share on total revenues of about $285 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.09 per share on revenues of $289 million for the year. Analysts' estimates typically exclude special items.

The company said this updated guidance reflects Tuesday's announcement by Travere Therapeutics of positive pivotal Phase 3 data and potential NDA filing in 2021 for sparsentan, with a milestone payment due to Ligand upon NDA submission.

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