Company: LGNZZ
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000886163-25-000063
Chunk: 8

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 8
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,463)   Impairment loss of financial royalty assets— 26,491    Gain on Pelthos Transaction(53,072)—    Loss on derivative instruments134 14,655    Loss from equity method investment in Primrose Bio— 5,763    (Gain) loss from change in fair value of equity-method investments and other investments(75,887)34,601    Share-based compensation32,579 33,565    Deferred income taxes, net12,113 (3,108)   Loss (gain) from short-term investments3,630 (98,923)   Lease amortization expense1,462 1,555    Other1,941 123 Changes in operating assets and liabilities, net of acquisition:   Accounts receivable(19,650)(794)   Inventory2,214 7,053    Accounts payable and accrued liabilities (1,463)2,617    Income tax receivable and payable3,622 (607)   Deferred revenue(578)(1,172)   Other assets and liabilities (6,099)657 Net cash provided by operating activities3,444 68,576 Cash flows from investing activities:   Acquisition of financial royalty assets(10,212)(17,819)   Acquisition of royalty receivables(813)—    Proceeds from financial royalty assets8,766 4,892    Purchases of derivatives(8,679)—    Purchases of property and equipment(443)(1,109)   Purchases of short-term investments(514,856)(133,629)   Proceeds from sale of short-term investments38,599 189,563    Proceeds from maturity of short-term investments136,505 27,751    Cash outflow on Pelthos Transaction(8,085)—    Cash paid for investment in Primrose Bio— (998)   Cash paid for Palvella notes receivable— (2,500)   Cash paid for the Agenus Transaction— (75,000)

9

   Cash paid for Apeiron Acquisition, net of cash received— (91,996)   Cash paid for InvIOs investment— (4,196)Net cash used in investing activities(359,218)(105,041)Cash flows from financing activities:   Gross proceeds