SAN DIEGO--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated(NASDAQ: LGND)today reported financial results for the three and six months endedJune 30, 2014, and provided an operating forecast and program updates.

Financial highlights for the second quarter of 2014 include (all comparisons are with the second quarter of 2013):

Total revenues increased 11% to$10.6 million, and royalty revenues increased 7% to$5.2 million

Non-GAAP net income from continuing operations was$0.24 per diluted share

Net income was$0.07 per diluted share

A description of the non-GAAP calculations and reconciliation to comparable GAAP financial measures is provided in the accompanying table titled “Non-GAAP Financial Measures.”

“Our second quarter financial results were above our expectations and our business continues to advance in many positive ways. Our financial momentum and the productivity from our research and licensing teams clearly define a company that is well positioned for future growth,” saidJohn Higgins, President and Chief Financial Officer of Ligand. “All aspects of Ligand are firing strong, and we are pleased to have an authorized share repurchase plan in place.”

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