LIGAND PHARMACEUTICALS INC

For the period ended Mar 31, 2026. Filed May 8, 2026.

About 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.

Mar 31, 2026 · Filed May 8, 2026

LGND$314.16+0.0%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations

(in thousands, except per share amounts)

	Three months ended
	March 31,
	2026	2025
Revenues and income:
Revenue from intangible royalty assets	$32,931	$21,587
Income from financial royalty assets	10,027	5,902
Royalties	42,958	27,489
Captisol	8,654	13,460
Contract revenue and income	110	4,384
Total revenues and income	51,722	45,333
Operating costs and expenses:
Cost of Captisol	3,273	4,849
Amortization of intangibles	8,097	8,257
Research and development	2,148	50,085
General and administrative	20,836	18,801
Fair value adjustments to partner program derivatives	—	(443)
Total operating costs and expenses	34,354	81,549
Operating income (loss)	17,368	(36,216)
Non-operating income and expenses:
Gain (loss) from short-term investments	3,869	(12,367)
Loss from change in fair value of equity-method investments and other investments	(49,229)	—
Interest income	6,655	1,771
Interest expense	(1,747)	(867)
Other non-operating expense, net	(1,175)	(2,501)
Total non-operating expenses, net	(41,627)	(13,964)
Loss before income taxes	(24,259)	(50,180)
Income tax benefit	10,914	7,729
Net loss	$(13,345)	$(42,451)
Basic net loss per share	$(0.67)	$(2.21)
Shares used in basic per share calculation	19,883	19,191
Diluted net loss per share	$(0.67)	$(2.21)
Shares used in diluted per share calculation	19,883	19,191

ContentsView on SEC.gov

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