Ligand Pharmaceuticals Incorporated, the renowned biotech company announced here today of the financial quarter of 2007. It has also come out with the additional info that is highly concerned with the innovative business model of the very Company.

Ligand is an early-stage biotech company with its central focus on the discovery and development of new drugs addressing critical unmet medical needs in the areas of thrombocytopenia, cancer, hepatitis C, hormone-related diseases, osteoporosis and inflammatory diseases. The company also endeavors for the development of drugs tend to be more effective and safer than existing therapies, being more opportune to administer and that are cost effective. The company also intends to become profitable through the generation of income from research, milestone, royalty and co-promotion revenues resulting from collaborations with pharmaceutical partners. Meanwhile even in the research and development field it has collaborated with GlaxoSmithKline, Wyeth, Pfizer Inc. and TAP Pharmaceutical Products, Inc. ("TAP"). The partnered products are under careful study for the treatment of large market indications such as thrombocytopenia, osteoporosis, menopausal symptoms and frailty.

It has been stated in this regard, that the Company as part of its business methodology sold its products of the commercial oncology in month of October in 2006, followed by the AVINZA(R) in the month of February in this year. In this regard while facing the pungent questions on behalf of the Press & Media stated that the that the amount of the total revenues originating from the abiding operations, for the three moths that ended on the March 31, 2007 were $0.2 million when it gets compared with total revenues of $2.9 million for the same period in 2006 indicating a sharp decline. On the contrary there has been an elevation at the same time in regard to the operating expenses from the continuing operations. The amount in the first quarter of 2007 were $29.8 million, when compared with the operating expenses of the first quarter of the 2006 amount of $17.2 million. All over again, the operating expenses in the first quarter of 2007 comprised of an one-time items of $10.2 million while being related to the Company's restructuring announced in January 2007.

While speaking to the Media, John L. Higgins, the President and Chief Executive Officer said, "Our progress since the beginning of 2007 has been extraordinary."  "We made significant organizational changes and financial decisions this quarter to enhance our performance and return value to shareholders. Ligand's new business model, including continuation of key partnerships, will enable us to leverage our research and development strengths, and focus on our programs that can provide the greatest return," he concluded.