February 11, 2020 / 9:45 PM / 9 days ago

BRIEF-Ligand Agrees To Acquire Core Assets, Partnered Programs And Ion Channel Technologies From Icagen

Feb 11 (Reuters) - Ligand Pharmaceuticals Inc:

* LIGAND AGREES TO ACQUIRE CORE ASSETS, PARTNERED PROGRAMS AND ION CHANNEL TECHNOLOGIES FROM ICAGEN

* DEAL FOR $15 MILLION IN CASH

* TRANSACTION EXPECTED TO BE IMMEDIATELY ACCRETIVE TO REVENUES AND ADJUSTED EPS

* LIGAND PHARMACEUTICALS - ICAGEN WILL ALSO BE ENTITLED TO RECEIVE UP TO AN ADDITIONAL $25 MILLION OF CASH PAYMENTS BASED ON CERTAIN REVENUE ACHIEVEMENTS

* INCLUDING ACQUISITION, LIGAND NOW EXPECTS 2020 TOTAL REVENUES TO BE $128 MILLION

* NEW GUIDANCE ASSUMES APPROXIMATELY $7 MILLION OF REVENUE FROM ICAGEN BUSINESS IN 2020

* IN 2020, ADJUSTED EARNINGS PER SHARE IS NOW PROJECTED TO BE $3.45

* FY2020 EARNINGS PER SHARE VIEW $3.44, REVENUE VIEW $121.4 MILLION — REFINITIV IBES DATA Source text for Eikon: Further company coverage:

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