Company: LGNZZ
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000886163-25-000063
Chunk: 7

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 7
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521 Issuance of common stock under employee stock compensation plans, net of shares withheld for payroll taxes179 1 9,552 — — 9,553 Share-based compensation— — 11,060 — — 11,060 Unrealized loss on available-for-sale securities, net of tax— — — (25)— (25)Net loss— — — — (51,911)(51,911)Balance at June 30, 202418,103 19 238,870 (935)537,244 775,198 Issuance of common stock under employee stock compensation plans, net of shares withheld for payroll taxes323 — 21,270 — — 21,270 Issuance of common stock under ATM, net of commissions andfees 334 — 34,030 — — 34,030 Share-based compensation— — 15,171 — — 15,171 Unrealized gain on available-for-sale securities, net of tax— — — 121 — 121 Foreign currency translation adjustment, net of tax— — — 2,560 — 2,560 Net loss— — — — (7,172)(7,172)Balance at September 30, 202418,760 $19 $309,341 $1,746 $530,072 $841,178 

See accompanying notes to unaudited condensed consolidated financial statements.

8

LIGAND PHARMACEUTICALS INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited) 

(in thousands)

Nine months ended September 30,20252024Cash flows from operating activities:Net income$79,669 $27,056 Adjustments to reconcile net income to net cash provided by operating activities:   Change in estimated fair value of contingent liabilities1,475 993    Depreciation of fixed assets and amortization of intangible assets25,561 26,612    Accretion of short-term investments(2,943)(725)   Amortization of debt discount and issuance fees708 314    Non-cash income from financial royalty assets(1,248)(4,687)   CECL adjustment to financial royalty assets(724)(3