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Ligand Spins Out and Merges Pelican Subsidiary with Primordial Genetics to Form Primrose Bio

Ligand retains all Pelican commercial royalties and will own 49.9% of Primrose Bio, Inc. as a stand-alone private company with leading technologies in synthetic biologyLigand contributes $15 million in exchange for economic interest in select Primrose programsLigand improves cash expense outlook and raises EPS guida.

Ligand Pharma Updates Annual Guidance As It Spins Out Pelican Subsidiary - Ligand Pharmaceuticals (NASDAQ:LGND)

Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) entered into a merger agreement under which its subsidiary, Pelican Technology Holdings Inc, has become a wholly owned subsidiary of Primrose Bio Inc. 

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