LONDON - Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has shared promising new data regarding an intravenous (IV) formulation of topiramate, a medication traditionally used in oral form for managing seizures and migraines.
The research, conducted in partnership with the University of Minnesota (UMN) and CURx Pharmaceuticals, suggests that IV topiramate could effectively replace oral doses on a one-to-one basis, particularly in emergency situations where oral administration is not possible.
The findings were presented at the 9th London-Innsbruck Colloquium on Status Epilepticus and Acute Seizures Conference, showcasing data from a study involving 25 healthy participants. This study is part of ongoing research to assess the safety and efficacy of IV topiramate as a substitute for its oral counterpart.
According to James Cloyd, Pharm.D., from the UMN College of Pharmacy, the data enables clinicians to properly dose IV topiramate under various clinical conditions, enhancing patient care when immediate treatment is required.
Bernard King, M.D., Chief Medical Officer of CURx Pharmaceuticals, highlighted the potential for IV topiramate to simplify replacement therapy, confirming its ability to replicate plasma concentrations achieved with oral administration.
IV topiramate is being developed for use in hospitalized epilepsy patients and for emergency care settings. The formulation has received Orphan Drug Designation from the U.S. Food and Drug Administration, which could expedite its development and review process. Ligand has licensed the rights to IV topiramate and is entitled to milestone payments and royalties on global sales.
Captisol, a chemically modified cyclodextrin, is the enabling technology behind the IV formulation of topiramate. Captisol has facilitated the development of several FDA-approved products and is involved in over 40 partnered programs.
This announcement is based on a press release statement and provides a glimpse into the ongoing efforts to improve treatment options for epilepsy patients, especially in situations where oral medication administration is not feasible. The research reflects a collaborative effort between academia and industry to address unmet medical needs in the field of neurology.
InvestingPro Insights
As Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) forges ahead with its innovative intravenous (IV) formulation of topiramate, the financial health and market sentiment surrounding the company offer additional insights. Ligand's strategic financial position is underscored by its ability to hold more cash than debt, providing a solid foundation for its ongoing research and development endeavors. This is a critical factor for investors, as it reduces financial risk and underscores the company's capacity to fund its operations and investment activities independently. Moreover, the company's trading at a low P/E ratio relative to near-term earnings growth suggests that it might be undervalued, presenting a potentially attractive entry point for investors who are bullish on the company's prospects.
Looking at the real-time metrics from InvestingPro, Ligand's market capitalization stands at $1.38 billion, reflecting the company's size and market value. The P/E ratio, which is a measure of the company's current share price relative to its per-share earnings, is at 25.86, which may appeal to value investors looking for growth potential. Additionally, the company's strong gross profit margin of 73.31% over the last twelve months as of Q1 2023 indicates a high level of efficiency in its operations, which could translate into better financial performance and returns for shareholders in the long run.
Investors interested in a deeper dive into Ligand's financials and market potential can find a wealth of additional "InvestingPro Tips" on the company at https://www.investing.com/pro/LGND. With tips such as analysts predicting profitability this year and a large price uptick over the last six months, these insights could be invaluable. For those looking to access these insights, remember to use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes a total of 9 additional "InvestingPro Tips" for Ligand Pharmaceuticals.
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