Ligand Pharma Inc Roche Contingent Value Rights (LGNDZ)

[surf1944]

8:36AM Ligand Pharma beats by $0.06, beats on revs; guides Q4 EPS below consensus, revs below consensus (LGND) 57.95 : Reports Q3 (Sep) non-GAAP earnings of $0.12 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.06; revenues rose 104.0% year/year to $13.0 mln vs the $10.8 mln consensus. Co issues downside guidance for Q4, sees non-GAAP EPS of $0.15-0.17 vs. $0.21 Capital IQ Consensus Estimate; sees Q4 revs of $11-12 mln vs. $14.2 mln Capital IQ Consensus Estimate. Royalty revenue rose 78% YoY to $5.7 mln, primarily due to higher royalties from Promacta and new royalties from Kyprolis.