LIGAND PHARMACEUTICALS INC
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
LGND$314.16+0.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
| Three months ended · Nine months ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| 2025 | 2024 | 2025 | 2024 | |
| Revenues and other income: | ||||
| Revenue from intangible royalty assets | $40,161 | $26,552 | $91,832 | $67,512 |
| Income from financial royalty assets | 6,425 | 5,157 | 18,640 | 6,454 |
| Royalties | 46,586 | 31,709 | 110,472 | 73,966 |
| Captisol | 10,672 | 6,255 | 32,419 | 22,967 |
| Contract revenue and other income | 58,203 | 13,848 | 65,530 | 27,388 |
| Total revenues and other income | 115,461 | 51,812 | 208,421 | 124,321 |
| Operating costs and expenses: | ||||
| Cost of Captisol | 3,801 | 2,449 | 11,557 | 8,237 |
| Amortization of intangibles | 8,097 | 8,258 | 24,612 | 24,701 |
| Research and development | 21,019 | 5,675 | 77,671 | 17,000 |
| General and administrative | 28,446 | 24,475 | 67,422 | 53,049 |
| Financial royalty assets impairment | — | — | — | 26,491 |
| Fair value adjustments to partner program derivatives | (833) | 7,812 | — | 7,812 |
| Total operating costs and expenses | 60,530 | 48,669 | 181,262 | 137,290 |
| Operating income (loss) | 54,931 | 3,143 | 27,159 | (12,969) |
| Non-operating income and expenses: | ||||
| Gain (loss) from short-term investments | 7,798 | 2,407 | (3,630) | 98,923 |
| Gain (loss) from change in fair value of equity-method investments and other investments | 75,887 | (3,029) | 75,887 | (34,601) |
| Interest income | 3,874 | 1,347 | 7,266 | 6,124 |
| Interest expense | (910) | (741) | (2,930) | (2,154) |
| Other non-operating expense, net | (443) | (9,466) | (1,572) | (13,605) |
| Total non-operating income (expenses), net | 86,206 | (9,482) | 75,021 | 54,687 |
| Income (loss) before income taxes | 141,137 | (6,339) | 102,180 | 41,718 |
| Income tax expense | (23,864) | (833) | (22,511) | (14,662) |
| Net income (loss) | $117,273 | $(7,172) | $79,669 | $27,056 |
| Basic net income (loss) per share | $5.99 | $(0.39) | $4.11 | $1.50 |
| Shares used in basic per share calculation | 19,578 | 18,419 | 19,367 | 18,061 |
| Diluted net income (loss) per share | $5.68 | $(0.39) | $3.95 | $1.46 |
| Shares used in diluted per share calculation | 20,629 | 18,419 | 20,170 | 18,574 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.