Company: LGNZZ
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000886163-25-000036
Chunk: 3

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 3
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Item 1. Condensed Consolidated Financial Statements

LIGAND PHARMACEUTICALS INCORPORATED

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited) 

(in thousands, except par value)March 31, 2025December 31, 2024ASSETSCurrent assets:   Cash and cash equivalents$47,989 $72,307    Short-term investments160,912 183,858    Accounts receivable, net38,492 38,376    Inventory14,614 14,114    Income taxes receivable4,339 4,073    Other current assets13,285 18,831    Assets held for sale (Note 2)29,685 —       Total current assets309,316 331,559 Intangible assets, net258,391 266,648 Goodwill101,541 105,250 Long-term portion of financial royalty assets, net188,320 185,024 Noncurrent derivative assets18,029 10,583 Property and equipment, net3,623 15,133 Lease right-of-use assets6,869 9,673 Other investments10,908 10,908 Deferred income taxes, net546 72 Other assets7,892 6,924       Total assets$905,435 $941,774 LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:   Accounts payable $5,366 $5,233    Accrued liabilities23,537 27,906    Income taxes payable1,803 1,199    Deferred revenue101 1,278    Current contingent liabilities1,484 206    Current operating lease liabilities859 1,266    Current finance lease liabilities24 24    Liabilities related to assets held for sale (Note 2)25,509 —       Total current liabilities58,683 37,112 Long-term deferred revenue— 2,246 Long-term contingent liabilities4,026 3,475 Long-term operating lease liabilities3,565 5,815 Deferred income taxes, net29,379 32,524 Other long-term liabilities14,248 30,163       Total liabilities109,901 111,335 Commitments and contingenciesStockholders' equity:   Preferred stock, $0.