Benzinga | Jul 29, 2021 04:45PM EDT

Ligand Sees FY21 Adj. EPS $5.80-$6.05 vs $6.12 Est., Sales $265M-$275M vs $280.44M Est.

Ligand is adjusting full-year 2021 guidance primarily to reflect lower expected Captisol revenue related to reduced demand for Captisol related to remdesivir which we discussed as a possibility in the first quarter 2021 earnings news release and the related earnings call. Ligand now expects full-year 2021 total revenues to be between $265 million and $275 million, and adjusted earnings per diluted share to be between $5.80 and $6.05. This compares with previous 2021 guidance for total revenues of $291 million and adjusted earnings per diluted share of $6.15.