Company: LGNZZ
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000886163-25-000036
Chunk: 29

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 29
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 $(497)$105,664 $105,329 $(484)$104,845 Agenus (Bot/Bal)40,815 (408)40,407 40,815 (408)40,407 Tolerance Therapeutics (Tzield®)25,521 (99)25,422 25,613 (101)25,512 Ensifentrine inventors17,790 (168)17,622 15,969 (157)15,812 Elutia (CorMatrix)9,870 (1,895)7,975 9,418 (2,268)7,150 InvIOs1,286 (64)1,222 1,238 (62)1,176 Selexis175 (77)98 205 (58)147 Total financial royalty assets, net$201,618 $(3,208)$198,410 $198,587 $(3,538)$195,049 (1) The amounts of allowance include cumulated allowance for changes in expected cash flows and cumulated allowance for current expected credit losses.(2) The amounts include current portion of financial royalty assets which represents an estimation for current quarter royalty receipts that are collected during the subsequent quarter. The current portion of financial royalty assets amounted to $10.1 million and $10.0 million were presented in other current assets on our condensed consolidated balance sheet as of March 31, 2025 and December 31, 2024, respectively.Financial royalty assets represent a portfolio of future milestone and royalty payment rights acquired in the Apeiron Acquisition in July 2024, from Agenus in May 2024, Selexis, S.A. (“Selexis”) in April 2013 and May 2015, CorMatrix Cardiovascular, Inc. (“CorMatrix”) in May 2016, which was later acquired by Aziyo (Aziyo changed its corporate name to Elutia Inc. (“Elutia”) in September 2023) in 2017, Ovid Therapeutics Inc. (“Ovid”) in October 2023, Tolerance Therapeutics, Inc. (“Tolerance Therapeutics”) in November 2023, and from certain ensifentrine inventors in March and August 2024.There was no impairment loss for the three months ended March 31, 2025 and 202