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Ligand Pharmaceuticals Incorporated (NASDAQ:LGND): Closing price $23.10

Ligand Pharmaceuticals has reached a world licensing and supply deal with Spectrum, through which to develop Ligand’s Captisol-enabled melphalan for use as part of multiple myeloma transplant programs, representing a deal potentially valued in excess of $53 million. Under the arrangement, Ligand will receive a $3 million licensing fee, potential milestone payments of over $50 million and royalties on sales from any products that reach the market. Shares closed up 5.67 percent on Thursday at $23.10, and have been traded in a 52-week range of $11.21 to $23.16.

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