Ligand Shares Hold Up in Biotech Rout While XOMA Deal Heads for Investor Vote
Ligand Pharmaceuticals shares rose 1.4% to $233.11 by early afternoon Tuesday, bucking a sharp drop in biotech ETFs. Investors traded on anticipation of management meetings and the pending $739 million XOMA Royalty acquisition. XOMA shares slipped 0.3%. The Ligand-XOMA deal still requires shareholder approval and could face delays.