PDL BioPharma Provides Q4 Revenue Guidance

(RTTNews) - Biotechnology company PDL BioPharma Inc (PDLI) said Wednesday it expects fourth-quarter revenues of about $158 million, an increase of about 41 percent from a year ago.

Analysts polled by Thomson Reuters currently expect the company to report revenues of $159.7 million for the fourth quarter.

PDL said the revenue guidance includes royalty payments from PDL's licensees to the Queen et al. patents, the estimated change in fair value of the acquired royalty rights, and estimated interest revenue from notes receivable debt financings to late stage healthcare companies.

The company expect royalties from the Queen et al. licenses for the fourth quarter to be about $132 million, a 34 percent increase from last year.

PDL estimates that royalty payments from acquired rights and a change in fair value of the royalty rights asset will be about $13 million for the fourth quarter.