Company: LGNZZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000886163-25-000012
Chunk: 188

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 188
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07$30,477 Granted537,432 $72.69 Exercised(489,076)$45.83 Forfeited(399,371)$66.61 Balance at December 31, 20232,640,458 $65.70 5.63$8,784 Exercisable at December 31, 20231,784,209 $64.90 4.26$7,300 Options vested and expected to vest as of December 31, 20232,640,458 $65.70 5.63$8,784 Granted783,064 $86.91 Exercised(1,080,135)$60.64 Forfeited(117,114)$74.58 Balance at December 31, 20242,226,273 $75.14 6.58$71,538 Exercisable at December 31, 20241,229,294 $72.15 5.02$43,120 Options vested and expected to vest as of December 31, 20242,226,273 $75.14 6.58$71,538 (1) Options granted primarily relate to the modifications in connection with the OmniAb Separation which resulted in new stock option grants at the modification date fair value. The weighted-average grant-date fair value of all stock options granted during 2024, 2023 and 2022 was $37.81, $36.65, and $28.90 per share, respectively. The total intrinsic value of all options exercised during 2024, 2023 and 2022 was approximately $38.6 million, $12.0 million, and $4.6 million, respectively. Cash received from options exercised, net of fees paid, in 2024, 2023 and 2022 was $65.2 million, $22.2 million and $2.6 million, respectively. 

94

Following is a further breakdown of the options outstanding as of December 31, 2024:Range of exercise pricesOptionsoutstandingWeightedaverageremaining lifein yearsWeighted averageexercise priceOptionsexercisableWeighted averageexercise price$32.78-$52.84281,644 5.78$49.42 195,152 $48.02 $54.81-$63.62228