Company: LGNZZ
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000886163-25-000051
Chunk: 104

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 104
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YTD 2024 Estimated Partner Product SalesEffective Royalty RateYTD 2024 Royalty RevenueKyprolis$751.8 1.8 %$13.5 $802.4 1.9 %$15.6 Evomela17.0 20.0 %3.4 20.5 20.0 %4.1 Teriparatide injection(1)12.1 28.9 %3.5 15.6 26.3 %4.1 Rylaze 197.5 3.0 %6.0 210.5 2.9 %6.2 Filspari132.2 9.0 %11.9 46.7 9.0 %4.2 Vaxneuvance452.6 0.9 %3.9 402.4 0.6 %2.5 Other585.1 1.6 %9.5 195.2 2.2 %4.3 Total$2,148.3 $51.7 $1,693.3 $41.0 

 (1) We receive tiered profit sharing of 25% on quarterly profits less than $3.75 million, 35% on quarterly profits greater than $3.75 million but less than $7.5 million and 40% on quarterly profits greater than $7.5 million. 

Contract revenue includes service revenue, license fees and development, regulatory and sales based milestone payments.

Operating Costs and Expenses

(Dollars in thousands)Q2 2025% of RevenueQ2 2024% of RevenueYTD 2025% of RevenueYTD 2024% of RevenueCost of Captisol$2,907 $2,906 $7,756 $5,788 Amortization of intangibles8,258 8,257 16,515 16,443 Research and development6,567 5,354 56,652 11,325 General and administrative20,175 17,623 38,976 28,574 Financial royalty assets impairment— 26,491 — 26,491 Fair value adjustments to partner program derivatives1,276 — 833 — Total operating costs and expenses$39,183 82