by Travis Johnson, Stock Gumshoe | July 23, 2014 7:48 am
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very well analysis. appreciated.
Thanks Travis
Thank you Travis!
Per Amgen’s second quarter report out today, Kyprolis sales grew in the second quarter but not spectacularly — $68 million a quarter ago to $78 million this quarter. Still growing, but the big projections for Kyprolis require them getting out of just being a third line treatment, which will depend on upcoming clinical trial results. I don’t know what Ligand analysts were expecting from the quarter for Kyprolis, but I’m pleased that it’s still growing.
Pfizer reported today too, they didn’t mention Duavee (just started selling this year) by name in their presentation or press release as far as I could tell on a quick skim. So that’s probably not doing spectacularly well, you’d think a big surprise would merit mention — other than that, it’s anyone’s guess until we hear some royalty numbers from Ligand on that one.
So for all we know now, revenues should still be climbing at Ligand. Whether they climb fast enough or for long enough to justify the current $50 share price or the $75 share price of a few months ago is still an open question, but revenue growth without expense growth is good and I’ll be paying close attention to their August 4 quarterly release.