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Stock impact report

Pelthos acquires US rights to Xepi cream from Biofrontera and Ferrer [Yahoo! Finance]

Ligand Pharmaceuticals Incorporated (LGND) 
Last ligand pharmaceuticals incorporated earnings: 2/6 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.ligand.com
Company Research Source: Yahoo! Finance
The topical cream is indicated to treat impetigo, a bacterial skin infection caused by Staphylococcus aureus or Streptococcus pyogenes in both adults and paediatric patients as young as two months. In conjunction with this acquisition, Pelthos also completed a private financing round through convertible notes, bringing in $18m from current investors, including Ligand Pharmaceuticals and a consortium spearheaded by Murchinson. Terms of the latest deal require Pelthos to pay $3m to Biofrontera and $1.2m to Ferrer upfront. Further payments will depend on commercial supply levels of the cream and future sales. The agreement also includes royalty obligations by Pelthos on US net sales to both Ferrer and the investor group. Initially developed by Ferrer in collaboration with Medimetriks Pharmaceuticals, Xepi received approval from the Food and Drug Administration (FDA) in 2017, becoming the first new treatment for impetigo in more than a decade. Although Biofrontera has held righ Show less Read more
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