Company: LGNZZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000886163-25-000012
Chunk: 8

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 8
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5

for patients suffering from conditions with limited treatment options. ZELSUVMI, its first product, is the first and only FDA-approved prescription medicine for the treatment of the highly transmissible molluscum contagiosum (molluscum) viral skin infection in adults and pediatric patients one year of age and older. It is the first and only FDA approved topical prescription medication for this infection that can be applied by patients, parents and caregivers at home, outside of a physician's office, or other medical setting. 

ZELSUVMI received a Novel Drug designation from the U.S. FDA in January 2024 to treat molluscum viral skin infection. ZELSUVMI was developed using Pelthos' proprietary nitric oxide-based NITRICIL technology platform. As we incubate this newly acquired business, the Pelthos team is actively preparing for a potential strategic transaction and subsequent commercial launch by mid-2025 of the assets acquired in the Novan acquisition (including ZELSUVMI and other assets that may be developed using the NITRICIL technology platform).  Consistent with our business model, we are engaging with potential commercial partners and outside investors to maximize the value of these assets for Ligand stockholders through a licensing or other strategic transaction involving Pelthos. See “Item 8. Financial Statements and Supplementary Data—Notes to Consolidated Financial Statements—Note (3), Acquisitions.”

Commercial and Clinical Stage Partnered Portfolio

We have a large royalty portfolio including 12 major commercial-stage revenue-generating royalty assets and over 75 additional active programs with future revenue-generating potential, including over 85 that are programs that are fully-funded by our partners. 

The following table provides an overview of royalty receipts on our commercial-stage revenue-generating royalty assets:

ProductPartnerTherapeutic AreaRoyalty Rate2024 Royalty Receipts (in millions)Estimated 2024 Product Revenue (in millions)KyprolisAmgen/Ono/BeigeneOncology1.5% - 3.0%$38.4$1,627.4QarzibaRecordatiOncologyTiered mid-teen$14.6— 1RylazeJazzOncologyLow single digit$13.7$409.4FilspariTravereNephropathy9%$12.2$135.6EvomelaAcrotech/CASIOncology20%$8.7$44.8Teriparatide