Company: LGNZZ
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000886163-25-000063
Chunk: 3

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 3
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, $0.001 par value; 5,000 shares authorized; zero issued and outstanding at September 30, 2025 and December 31, 2024— —    Common stock, $0.001 par value; 60,000 shares authorized; 19,656 and 19,106 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively20 20    Additional paid-in capital362,614 337,377    Accumulated other comprehensive income (loss)9,322 (5,942)   Retained earnings 578,215 498,984       Total stockholders’ equity950,171 830,439       Total liabilities and stockholders’ equity$1,476,772 $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 endedNine months ended September 30,September 30,2025202420252024Revenues and other income:       Revenue from intangible royalty assets$40,161 $26,552 $91,832 $67,512        Income from financial royalty assets6,425 5,157 18,640 6,454    Royalties46,586 31,709 110,472 73,966    Captisol10,672 6,255 32,419 22,967    Contract revenue and other income58,203 13,848 65,530 27,388 Total revenues and other income115,461 51,812 208,421 124,321 Operating costs and expenses:   Cost of Captisol3,801 2,449 11,557 8,237    Amortization of intangibles8,097 8,258 24,612 24,701    Research and development21,019 5,675 77,671 17,000    General and administrative28,446 24,475 67,422 53,049    Financial royalty assets impairment— — — 26,491    Fair value adjustments to partner program derivatives(833)7,812 — 7,812