Company: LGNZZ
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000886163-25-000051
Chunk: 8

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 8
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    Deferred income taxes, net(9,169)(1,120)   Loss (gain) from short-term investments11,428 (96,516)   Lease amortization expense983 982    Other1,736 358 Changes in operating assets and liabilities:   Accounts receivable(3,341)(5,587)   Inventory(1,375)5,121    Accounts payable and accrued liabilities (2,556)390    Income tax receivable and payable2,758 8,486    Deferred revenue(578)(940)   Other assets and liabilities (6,247)(6,837)Net cash (used in) provided by operating activities(9,646)32,046 Cash flows from investing activities:   Acquisition of financial royalty assets(1,821)(4,174)   Proceeds from financial royalty assets5,179 4,207    Purchases of property and equipment(428)(513)   Purchases of short-term investments(122,717)(102,075)   Proceeds from sale of short-term investments38,414 98,908    Proceeds from maturity of short-term investments83,220 23,611    Cash paid for investment in Primrose Bio— (998)   Cash paid for Palvella notes receivable— (2,500)   Cash paid for the Agenus transaction— (75,000)   Purchase of Castle Creek derivatives(7,620)— Net cash used in investing activities(5,773)(58,534)

8

Cash flows from financing activities:   Payments under finance lease obligations(14)(9)   Net proceeds from stock option exercises and ESPP12,461 24,856    Taxes paid related to net share settlement of equity awards(9,036)(3,076)   Cash paid for debt issuance costs(73)(98)   Proceeds from Pelthos investors6,910 — Net cash provided by financing activities10,248 21,673 Effect of exchange rate changes on cash and cash equivalents3,350 — Net decrease in cash and cash equivalents, including cash and cash equivalents classified within assets held for sale(1,821)(4,815)Less: net increase in cash and cash equivalents classified within assets held for sale(2,817)— Net decrease in cash and cash equivalents(