LGND Ligand Pharmaceuticals Incorporated
Legal ·
Ligand sued Viking on May 19, 2026 after purporting to end the TR-Beta license. Viking cross-sued Ligand and Metabasis. A hearing on Ligand's demurrer is set for February 26, 2027.
Ligand closed $700.0 million of 0.00% convertible senior notes due 2031 after the initial purchasers exercised their option in full. Net proceeds were approximately $678.2 million, with about $72.9 million going to note hedges and approximately $60 million to a share repurchase. The initial conversion price is approximately $334.27 per share.
Ligand plans a private offering of $550.0 million of notes due 2031 to fund note hedges, a repurchase of up to $75 million of stock and general purposes, including a pending deal for Xoma Royalty Corporation.
Ligand will pay about $739 million in equity value for XOMA Royalty, plus a contingent value right tied to litigation. The deal needs a XOMA Royalty stockholder vote and is expected to close in the third quarter of 2026.
Ligand Pharmaceuticals Incorporated is a biopharmaceutical royalty company that invests in and structures royalty interests in mid- to late-stage development and commercial biopharmaceutical products. Its revenue comes primarily from royalties on products its partners commercialize, supplemented by Captisol material sales and contract revenue from license fees and milestone payments. The company has 12 major commercial stage royalty assets and more than 90 additional commercial and development-stage programs. Its four strategies are royalty purchases, acquisitions of companies or assets with embedded royalty rights, project finance and other development-stage financing, and IP technology platform investments. Its platform technologies are Captisol and NITRICIL. Ligand describes past acquisitions that produced royalties, including Pharmacopeia, which yielded Travere's FILSPARI, Vernalis, which yielded Merck's Ohtuvayre, Pfenex, which yielded five of its major commercial royalty programs, and Novan, which yielded Zelsuvmi and the NITRICIL platform. Many of its investments take place under confidentiality agreements.
| Product or program | What it is | Stage |
|---|---|---|
| Captisol | Royalty-generating platform technology with material sales | |
| NITRICIL | Royalty-generating infrastructure-light platform technology | |
| Commercial royalty portfolio | 12 major commercial stage royalty assets | commercial stage |
| Line | FY2025 | FY2024 |
|---|---|---|
| Research and development | $81.2 million | $21.4 million |
| Net income (loss) | $124.5 million | -$4.0 million |
| Cash from operations | $49.4 million | $97.0 million |
| Cash and equivalents | $174.9 million | $72.3 million |
| Short-term investments | $558.6 million | $183.9 million |
Our latest story on this, dated Jun 25, 2026: "Ligand Pharmaceuticals completes $700.0 million 0.00% convertible senior notes offering". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Jun 25, 2026: "Ligand Pharmaceuticals completes $700.0 million 0.00% convertible senior notes offering". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Apr 27, 2026: "Ligand Pharmaceuticals signs merger agreement to acquire XOMA Royalty for $39.00 per share in cash". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Oct 29, 2026: "Viking and Ligand dispute VK2809 license termination in San Diego court". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Jun 25, 2026: "Ligand Pharmaceuticals completes $700.0 million 0.00% convertible senior notes offering". The story links the filing or release it is based on. Read the story.
Ligand Pharmaceuticals Incorporated trades under the ticker LGND on NASDAQ.
Ligand Pharmaceuticals Incorporated is listed on NASDAQ. Our directory also records these other listings: GETTEX:LGDN; LS:A1C9RN; LSX:A1C9RN.
The SEC Central Index Key (CIK) for Ligand Pharmaceuticals Incorporated is 886163. Its filings are on SEC EDGAR.
19,935,609 shares as of 2026-08-04, per the cover page of its 10-Q filed 2026-08-07.
Our directory records Ligand Pharmaceuticals Incorporated under United States.
Our directory classifies Ligand Pharmaceuticals Incorporated as: Pharmaceuticals: Major. This is a directory classification, not a description of the pipeline.
The ISIN recorded for Ligand Pharmaceuticals Incorporated is US53220K5048.
aibio.space lists Ligand Pharmaceuticals Incorporated among 2,820 public biotech companies and publishes its news here as stories appear.
SEC records list its state or country of incorporation as DE.
Ligand Pharmaceuticals Incorporated is a biopharmaceutical royalty company that invests in and structures royalty interests in mid- to late-stage development and commercial biopharmaceutical products. Its revenue comes primarily from royalties on products its partners commercialize, supplemented by Captisol material sales and contract revenue from license fees and milestone payments.
Reported a financing. SEC Form 8-K (Items 1.01,8.01,9.01). Source
Reported the end of a material agreement. SEC Form 8-K (Items 1.02). Source
Reported a merger or acquisition agreement. SEC Form 8-K (Items 1.01,8.01). Source
Set up an at-the-market program to sell shares over time. SEC Form S-3ASR. Source
Reported a financing. SEC Form 8-K (Items 7.01). Source
Reported a financing. SEC Form 8-K (Items 1.01,8.01,9.01). Source
Reported a merger or acquisition agreement. SEC Form 8-K (Items 7.01,9.01). Source
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