Company: LGNZZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000886163-25-000012
Chunk: 134

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 134
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 — 25,743 Unrealized net gain on available-for-sale securities, net of tax— — — 167 — 167 Final OmniAb Distribution— — 1,665 — — 1,665 Final tax impact of OmniAb Distribution— — 5,797 — — 5,797 Net income— — — — 52,154 52,154 Balance at December 31, 202317,556 18 198,696 (817)503,016 700,913 Issuance of common stock under employee stock compensation plans, net of shares withheld for payroll taxes1,190 2 60,452 — — 60,454 Issuance of common stock, net of commissions and fees360 — 37,140 — — 37,140 Share-based compensation— — 41,089 — — 41,089 Unrealized net gain on available-for-sale securities, net of tax— — — 45 — 45 Foreign currency translation adjustment, net of tax— — — (5,170)— (5,170)Net income— — — — (4,032)(4,032)Balance at December 31, 202419,106 $20 $337,377 $(5,942)$498,984 $830,439 

See accompanying notes to these consolidated financial statements.

63

LIGAND PHARMACEUTICALS INCORPORATED

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Year Ended December 31,202420232022Cash flows from operating activities:Net income (loss)$(4,032)$52,154 $(33,361)Adjustments to reconcile net income (loss) to net cash provided by operating activities:Gain on sale of Pelican— (2,121)— Change in estimated fair value of contingent liabilities683 (265)(748)Depreciation of fixed assets and amortization of intangible assets35,239 36,521 51,534 Gain from short-term investments(67,901)(46,365)(28,540)Amortization/accretion of premium (discount) on investments, net(1,331)(1,318)16 Amortization of debt discount and issuance fees