Company: LGNZZ
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000886163-25-000036
Chunk: 6

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 6
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Retained earnings Total stockholders' equitySharesAmountBalance at December 31, 202317,556 $18 $198,696 $(817)$503,016 $700,913 Issuance of common stock under employee stock compensation plans, net of shares withheld for payroll taxes368 — 12,228 — — 12,228 Share-based compensation— — 7,334 — — 7,334 Unrealized net 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 

See accompanying notes to unaudited condensed consolidated financial statements.

7

LIGAND PHARMACEUTICALS INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited) 

(in thousands)Three months ended March 31,20252024Cash flows from operating activities:Net (loss) income$(42,451)$86,139 Adjustments to reconcile net (loss) income to net cash provided by operating activities:   Change in estimated fair value of contingent liabilities1,879 (33)   Depreciation of fixed assets and amortization of intangible assets8,770 8,765    Amortization/accretion of premium (discount) on investments, net(839)(157)   Amortization of debt discount and issuance fees136 84    Non-cash income from financial royalty assets(461)—    CECL adjustment to financial royalty assets(330)(2,841)   Loss (gain) on derivative instruments174 (196)   Losses from equity method investment in Primrose Bio— 2,352    Share-based compensation7,836 7,334    Deferred income taxes, net(8,844)19,546    Gain from short-term investments12,367 (110,772)   Lease amortization expense571 478    Other915 (210)Changes in operating assets and liabilities, net of acquisitions:   Accounts receivable(576)3,462    Inventory(500)2,632    Accounts payable and accrued liabilities (2,149)(1,