Mar. 11 at 5:46 PM
$LGND 2/5/26 complete research piece about
$PTHS
nvestment Thesis
LGND uniquely positions itself as a strategic partner, providing not just royalty capital for products in development but serving as a technology
partner and biopharma incubator for innovative treatments that would have otherwise been lost in an ever-challenging development
environment. LGND has a vast portfolio of commercial-stage royalties including potential blockbuster products like Ohtuvayre and Filspari
and promising pipeline assets like QTORIN rapamycin (PVLA), BOT/BAL (AGEN), and VK2809 (VKTX). LGND has also recently successfully
spun-out Pelthos/PTHS to launch Zelsuvmi in molluscum contagiosum, an asset LGND acquired from bankruptcy and incubated to a
commercial-ready state. In totality, LGND holds one of the most diversified portfolios of royalty revenues across therapeutic indications for
de-risked exposure to the biopharma development landscape.
