Company: LGNZZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000886163-25-000012
Chunk: 42

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1A
Chunk 42
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 trade secrets and other proprietary information.

Risks related to government regulation and legal proceedings, including:

•Market acceptance and sales of any approved product will depend significantly on the availability and adequacy of coverage and reimbursement from third-party payors and may be affected by existing and future healthcare reform measures;

•Regulatory approval of our product candidates can be time-consuming and unpredictable and is not guaranteed; and

•Risks related to our and our collaboration partners’ compliance with healthcare, environmental and other applicable laws and regulations. 

Risks related to our strategic transactions, including: 

•Difficulties from strategic acquisitions and other M&A transactions could adversely affect our stock price, operating results and results of operations; and

•Risks we may face if we do not consummate a strategic transaction involving our Pelthos business and continue to operate Pelthos on a go-forward basis.

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Other risks and uncertainties affecting our business, including: 

•Our operating results may fluctuate significantly, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations or any guidance we may provide; 

•Changes or modifications in financial accounting standards or tax laws may harm our results of operations; 

•Risks related to our accounting methodologies and tax status; and 

•Other general risks and uncertainties affecting our business. 

Risks Related to Our Business Operations and Reliance on Third Parties:

Future revenue based on Kyprolis, Qarziba, Filspari, Evomela, Teriparatide and Rylaze, as well as royalties from our other partnered products, may be lower than expected.

A significant portion of our royalty revenue is based on sales of Kyprolis by Amgen, sales of Qarziba by Recordati, sales of Filspari by Travere, sales of Evomela by Acrotech Biopharma, sales of Teriparatide by Alvogen/Adalvo and sales of Rylaze by Jazz. Royalties, including payments from the foregoing partners, are expected to be a substantial portion of our ongoing revenues for the foreseeable future. Any setback that may occur with respect to any of our partners' products, and in particular Kyprolis, could significantly impair our operating results and/or reduce our revenue and the market price of our stock. Setbacks for the products could include problems with shipping, distribution, manufacturing, product safety, marketing, government regulation or reimbursement, licenses and approvals, intellectual property rights, including failure by any of the foregoing partners