Company: LGNZZ
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000886163-25-000051
Chunk: 4

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 4
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 and contingenciesStockholders' equity:   Preferred stock, $0.001 par value; 5,000 shares authorized; zero issued and outstanding at June 30, 2025 and December 31, 2024— —    Common stock, $0.001 par value; 60,000 shares authorized; 19,411 and 19,106 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively20 20    Additional paid-in capital358,635 337,377    Accumulated other comprehensive income (loss)8,494 (5,942)   Retained earnings 461,380 498,984       Total stockholders' equity828,529 830,439       Total liabilities and stockholders' equity$948,604 $941,774 

See accompanying notes to unaudited condensed consolidated financial statements.

4

LIGAND PHARMACEUTICALS INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(in thousands, except per share amounts)Three months endedSix months ended June 30,June 30,2025202420252024Revenues and other income:       Revenue from intangible royalty assets$30,084 $22,603 $51,671 $40,960        Income from financial royalty assets6,313 559 12,215 1,297    Royalties36,397 23,162 63,886 42,257    Captisol8,287 7,500 21,747 16,712    Contract revenue and other income2,943 10,869 7,327 13,540 Total revenues and other income47,627 41,531 92,960 72,509 Operating costs and expenses:   Cost of Captisol2,907 2,906 7,756 5,788    Amortization of intangibles8,258 8,257 16,515 16,443    Research and development6,567 5,354 56,652 11,325    General and administrative20,175 17,623 38,976 28,574    Financial royalty assets impairment— 26,491 — 26,491    Fair value adjustments to partner program derivatives1,276