Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Q4 2023 Earnings Call Transcript

Lawrence Solow : And then just lastly, could you just remind us how many shares of VKTX you guys have currently?

Todd Davis : We still hold about 1.7 million shares of Viking Therapeutics.

Operator: [Operator Instructions] Our next question comes from the line of Balaji Prasad of Barclays.

Unidentified Analyst: This is [Shan] on for Balaji. Just a quick one on Rylaze. Could you add a little bit more color on your comments with regard to the supply constraints? And could you also share your view on the short-term and long-term revenue ramp-up of these assets and the implications for Ligand’s portfolio?

Mattew Korenberg: As folks know, Rylaze is marketed by Jazz, our marketing partner. The supply constraints we were referring to in my prepared comments were really related to the predecessor product. Jazz and Pelican or Phoenix, our prior technology platform collaborated to develop Rylaze to solve those manufacturing problems historically. And so those are all resolved now, and the new product is fully available as much as needed from a manufacturing standpoint. In terms of projections for the product or comments on the product’s potential, we only can report what our partners report and Jazz did not provide guidance for Rylaze. I’d point folks to the publicly reported consensus estimates for the product. But last year, the product did about $400 million, a little bit less, I think, for the year and we hope to see growth given that Jazz highlighted that as one of its three key growth drivers.

Operator: There are no further questions at this time. Thank you, ladies and gentlemen. We will conclude today’s conference call. We thank you for participating. You may now disconnect.