Ligand Pharma up after at-home viral skin infection treatment gets US approval

Ligand Pharmaceuticals Incorporated

08/01/2024 13:58

** Shares of drugmaker Ligand Pharmaceuticals  LGND.O  rise
6% to $75.2 premarket
    ** LGND said on Friday U.S. health regulator approved its
topical treatment for a viral skin infection, making it the
first at-home medication for the condition in the country
    ** The gel, Zelsuvmi, is expected to be available in the
U.S. in the second half of 2024
    ** Zelsuvmi will treat a type of highly contagious skin
infection called molluscum contagiosum that is caused by a
poxvirus
    ** Drug will compete with Verrica Pharmaceuticals'  VRCA.O 
Ycanth, which last year became the first U.S.-approved treatment
for the infection but requires medical supervision during
application
    ** Up to Friday's close, stock has risen 5.7% in the last 12
months

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))