Company: LGNZZ
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000886163-25-000063
Chunk: 2

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 2
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Item 1. Condensed Consolidated Financial Statements

LIGAND PHARMACEUTICALS INCORPORATED

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited) 

(in thousands, except par value)September 30, 2025December 31, 2024ASSETSCurrent assets:   Cash and cash equivalents$139,376 $72,307    Short-term investments525,146 183,858    Accounts receivable, net57,560 38,376    Inventory11,900 14,114    Short-term portion of financial royalty assets, net12,416 10,025    Income taxes receivable536 4,073    Other current assets6,986 8,806       Total current assets753,920 331,559 Intangible assets, net233,535 266,648 Goodwill101,541 105,250 Long-term portion of financial royalty assets, net206,332 185,024 Noncurrent derivative assets9,351 10,583 Property and equipment, net3,466 15,133 Lease right-of-use assets7,609 9,673 Equity method investments42,000 — Other investments106,721 10,908 Deferred income taxes, net9,526 72 Other assets2,771 6,924       Total assets$1,476,772 $941,774 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilities:   Accounts payable $3,679 $5,233    Accrued liabilities24,084 27,906    Income taxes payable1,284 1,199    Current contingent liabilities268 206    Current operating lease liabilities1,089 1,266    Other current liabilities135 1,302       Total current liabilities30,539 37,112 Long-term deferred revenue— 2,246 Long-term contingent liabilities3,569 3,475 Long-term operating lease liabilities4,415 5,815 Long-term portion of 2030 convertible senior notes, net445,493 — Deferred income taxes, net22,673 32,524 Other long-term liabilities19,912 30,163       Total liabilities526,601 111,335 Commitments and contingenciesStockholders’ equity:   Preferred stock