Company: LGNZZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000886163-25-000012
Chunk: 137

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 137
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125)(21,891)— Net cash paid for acquisitions$91,996 $10,405 $— Supplemental schedule of non-cash investing and financing activities:Accrued Primrose transaction costs$— $998 $— Addition of right-of-use assets and lease liabilities$1,769 $— $— Accrued royalty from financial royalty assets$— $52 $— Accrued purchases of financial royalty assets$— $347 $— Accrued debt issuance costs$42 $41 $— Accrued fixed asset purchases$71 $— $2,333 Unrealized gain (loss) on available-for-sale investments, net of tax$45 $167 $(67)

See accompanying notes to these consolidated financial statements.

65

Notes to Consolidated Financial Statements

Unless the context requires otherwise, references in this report to “Ligand,” “we,” “us,” the “Company,” and “our” refer to Ligand Pharmaceuticals Incorporated and its consolidated subsidiaries.

1. Basis of Presentation and Summary of Significant Accounting Policies

BusinessWe are a biopharmaceutical company enabling scientific advancement through supporting the clinical development of high-value medicines. We do this by providing financing, licensing our technologies or both.Basis of Presentation and Principles of ConsolidationOur consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of our parent company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.Segment InformationThe Company has one operating and one reportable segment: development and licensing of biopharmaceutical assets. The Company's Chief Operating Decision Maker (“CODM”) is Todd Davis, our Chief Executive Officer. The CODM uses net income (loss) from continuing operations as a single segment profit or loss measure to evaluate our single segment performance, and in deciding whether to reinvest into the existing assets, or to new potential opportunities. Our CODM relies on internal management reporting processes that provide information on segment operating income (loss) for making financial decisions and allocating resources. CODM does not evaluate, manage or measure performance of segments using asset information.The information on significant segment expenses that are regularly provided to the CODM, and other segment items included within the reported segment profit or loss measure, is presented in a table below:Year ended December 31,202420232022Total revenues and other income$167,133 $131,314