JUPITER, Fla. (AP) — JUPITER, Fla. (AP) — Ligand Pharmaceuticals Inc. (LGND) on Thursday reported a loss of $13.3 million in its first quarter.
On a per-share basis, the Jupiter, Florida-based company said it had a loss of 67 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to $1.63 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share.
The drugmaker posted revenue of $51.7 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $59.9 million.
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