Company: LGNZZ
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000886163-25-000063
Chunk: 4

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 4
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Total operating costs and expenses60,530 48,669 181,262 137,290 Operating income (loss)54,931 3,143 27,159 (12,969)Non-operating income and expenses:   Gain (loss) from short-term investments7,798 2,407 (3,630)98,923    Gain (loss) from change in fair value of equity-method investments and other investments75,887 (3,029)75,887 (34,601)   Interest income3,874 1,347 7,266 6,124    Interest expense(910)(741)(2,930)(2,154)   Other non-operating expense, net(443)(9,466)(1,572)(13,605)Total non-operating income (expenses), net86,206 (9,482)75,021 54,687 Income (loss) before income taxes141,137 (6,339)102,180 41,718 Income tax expense(23,864)(833)(22,511)(14,662)Net income (loss)$117,273 $(7,172)$79,669 $27,056      Basic net income (loss) per share$5.99 $(0.39)$4.11 $1.50      Shares used in basic per share calculation19,578 18,419 19,367 18,061      Diluted net income (loss) per share$5.68 $(0.39)$3.95 $1.46      Shares used in diluted per share calculation20,629 18,419 20,170 18,574 

See accompanying notes to unaudited condensed consolidated financial statements.

5

LIGAND PHARMACEUTICALS INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited)

(in thousands)

Three months endedNine months ended September 30,September 30,2025202420252024Net income (loss) $117,273 $(7,172)$79,669 $27,056 Unrealized net gain on available-for-sale securities, net of tax78 121 7 3 Foreign currency translation adjustment, net of tax750 2,560 15,257