Company: LGNZZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000886163-25-000012
Chunk: 138

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 138
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$196,245 Share-based compensation(41,089)(25,743)(60,285)Other segment items:Amortization of intangibles(32,959)(33,654)(34,237)Depreciation of property and equipment(2,300)(2,905)(3,841)Interest income8,055 7,711 2,046 Interest expense(3,037)(656)(1,799)Other *(99,835)(22,248)(103,348)Net income (loss) from continuing operations$(4,032)$53,819 $(5,219)* Other items for the years ended December 31, 2024, 2023, and 2022, include the amount of other general, administrative, research and development expenses of $56.7 million, $48.7 million, and $42.0 million (net of share-based compensation and depreciation expenses), respectively, and additional income and expense items that are presented in consolidated statements of operations such as financial royalty assets impairment, Fair value adjustments to partner program derivatives, cost of Captisol and other non-operating income and expenses.ReclassificationCertain reclassifications have been made to the previously issued audited consolidated financial statements to conform with the current period presentation. Specifically, within the consolidated balance sheet as of December 31, 2023, our commercial license and other economic rights line has been reclassified to long-term portion of financial royalty assets, net, and to other assets, and a portion of other investments has been reclassified from other assets. Moreover, noncurrent derivative assets as of December 31, 2023, have been reclassified from other assets.In addition, within the consolidated statements of operations for the years ended December 31, 2023 and 2022, royalties have been reclassified to revenue from intangible royalty assets, and a portion of the contract revenue has been reclassified to income from financial royalty assets.

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Discontinued operationsThe Company determined that the spin-off of the OmniAb Business in November 2022 in connection with the OmniAb Transactions met the criteria for classification as a discontinued operation in accordance with ASC Subtopic 205-20, Discontinued Operations (“ASC 205-20”). For additional information, see “Note (5), Spin-off of OmniAb”. All disclosures have been adjusted to reflect continuing operations.Use of EstimatesThe preparation of the consolidated financial statements in conformity with U.S. GAAP requires the use of estimates and assumptions that affect the