Ligand Pharmaceuticals stock slides as FDA pushes back Travere’s Filspari decision to April 13

Shares of Ligand Pharmaceuticals Incorporated dropped 10.6% to $184.80 in Tuesday afternoon trading. The decline followed an announcement from royalty partner Travere Therapeutics that U.S. regulators extended the review period for its Filspari application, pushing the decision date to April 13. Travere said the FDA classified its latest submission as a “major amendment” but didn’t request additional safety or manufacturing data. LGND shares opened at $196.96 and fluctuated between $175.89 and $206.78.