Company: LGNZZ
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000886163-25-000051
Chunk: 7

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 7
---
12,228 — — 12,228 Share-based compensation— — 7,334 — — 7,334 Unrealized loss on available-for-sale securities, net of tax— — — (93)— (93)Net income— — — — 86,139 86,139 Balance at March 31, 202417,924 18 218,258 (910)589,155 806,521 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 

See accompanying notes to unaudited condensed consolidated financial statements.

7

LIGAND PHARMACEUTICALS INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited) 

(in thousands)

Six months ended June 30,20252024Cash flows from operating activities:Net (loss) income$(37,604)$34,228 Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:   Change in estimated fair value of contingent liabilities1,931 1,200    Depreciation of fixed assets and amortization of intangible assets17,292 17,618    Accretion of short-term investments(1,605)(587)   Amortization of debt discount and issuance fees261 180    Non-cash income from financial royalty assets(888)—    CECL adjustment to financial royalty assets(750)(4,260)   Impairment loss of financial royalty assets— 26,491    Loss (gain) on derivative instruments245 (1,696)   Losses from equity method investment in Primrose Bio— 10,382    Fair value adjustment to Primrose Bio securities investments— 25,759    Share-based compensation17,833 18,394