Company: LGNZZ
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000886163-25-000036
Chunk: 4

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 4
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001 par value; 5,000 shares authorized; zero issued and outstanding at March 31, 2025 and December 31, 2024— —    Common stock, $0.001 par value; 60,000 shares authorized; 19,276 and 19,106 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively20 20    Additional paid-in capital340,544 337,377    Accumulated other comprehensive loss(1,563)(5,942)   Retained earnings 456,533 498,984       Total stockholders' equity795,534 830,439       Total liabilities and stockholders' equity$905,435 $941,774 

See accompanying notes to unaudited condensed consolidated financial statements.

4

LIGAND PHARMACEUTICALS INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(in thousands, except per share amounts)Three months endedMarch 31,20252024Revenues and other income:       Revenue from intangible royalty assets$21,587 $18,357        Income from financial royalty assets5,902 738    Royalties27,489 19,095    Captisol13,460 9,212    Contract revenue and other income4,384 2,671 Total revenues and other income45,333 30,978 Operating costs and expenses:   Cost of Captisol4,849 2,882    Amortization of intangibles8,257 8,186    Research and development50,085 5,971    General and administrative18,801 10,951    Fair value adjustments to partner program derivatives(443)— Total operating costs and expenses81,549 27,990 Operating income (loss)(36,216)2,988 Non-operating income and expenses:   Gain (loss) from short-term investments(12,367)110,772    Interest income1,771 2,020    Interest expense(867)(141)   Other non-operating expense, net(2,501)(2,192)Total non-operating (expenses) income, net(13,964)110,459 (Loss) income before income taxes(50,180)113,447 Income tax benefit