Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Q2 2020 Earnings Conference Call - Final Transcript

Aug 03, 2020 • 08:30 am ET


Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Ligand Pharmaceuticals Q2 2020 Earnings Conference Call.

[Operator Instructions] I would now like to hand the conference over to Patrick O'Brien, SVP of Investor Relations. Sir, the floor is yours.

Patrick O'Brien

Thank you, Carmen, and welcome to Ligand's Second Quarter of 2020 Financial Results and Business Update Conference Call. Consistent with recommendations for social distancing, all of our speakers for today's call are in separate locations.

Speaking today for Ligand will be John Higgins, CEO; Matt Foehr, COO; and Matt Korenberg, CFO. We will be using slides to guide our discussion today. We also will use non-GAAP financial measures and some of our statements will be forward looking.

Additional information concerning risk factors and other matters concerning Ligand can be found in our Ligand's earnings press release, slides and our periodic filings with the SEC. Ligand undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this conference call.

I would now like to turn the call over to John Higgins.

John Higgins

Patrick, thank you, and good morning everyone. Welcome, thank you for joining our second quarter earnings call. I'm going to start with Slide 4. Some of you who may be dialing in, new to the Ligand story, just a quick overview, our company delivers innovation to the pharmaceutical and biotech industry to drive value for shareholders.

Our business is focused on technologies, technologies that help discover drugs and make drugs possible. We've got a broad portfolio, over 200 partnered programs; partnered with over 120 companies in the industry; and ultimately, we're looking at driving financial growth, running an efficient business, funding quality projects, pursuing quality partnerships and driving growth.

The focus, the way we drive our success is, first, on customer service. Our partners lead the way. They choose the targets, they go after markets and medical programs that they believe are important and we serve them. We've got an amazing team.

We're devoted to operational excellence. We have an amazing roster of partners and we want to match them in our quality and reputation. And ultimately, our focus is on deploying capital, identifying projects and companies to invest in to help build our business.

Finally, we can't do this without our team. We've got a strong company culture, we have a diverse highly experienced board of Directors very active with management, and we are focused on corporate governance, looking at environmental, social, and governance factors that will help make our Company better and help make our communities better as well.

Before I go further, I do want to say thanks to our team. We're operating in a very difficult business environment, obviously, with the pandemic, but this team is doing an outstanding work and I just want to acknowledge our scientists, our business leaders, and our team members.

Our success is a team effort and Ligand is thriving right now and it's because of the statutory [Phonetic] work we made