Ligand Pharma Stock Price, News & Analysis

Ligand Pharmaceuticals (Nasdaq: LGND) has successfully completed its offering of 0.75% convertible senior notes due 2030, raising a total principal amount of $460.0 million. The company generated net proceeds of approximately $445.1 million after deducting fees and expenses.

The company allocated $45.9 million for convertible note hedge transactions and used $15.0 million to repurchase 102,034 shares at $147.01 per share. To manage potential dilution, Ligand entered into warrant transactions with a strike price of $294.02 per share, representing a 100% premium over the last reported share price.

Ligand Pharmaceuticals (Nasdaq: LGND) has announced the pricing of $400 million convertible senior notes due 2030 in a private placement to qualified institutional buyers. The notes will carry a 0.75% annual interest rate, payable semiannually, with an initial conversion price of $194.79 per share, representing a 32.5% premium over the current stock price.

The company expects net proceeds of $386.9 million (or $445.1 million if the initial purchasers exercise their option). Ligand will use $39.9 million for convertible note hedge transactions, $15.0 million to repurchase 102,034 shares of common stock, and the remainder for general corporate purposes. The notes include provisions for conversion, redemption, and repurchase under specific conditions.

Ligand Pharmaceuticals (Nasdaq: LGND) announced plans to offer $400 million of convertible senior notes due 2030 in a private placement to qualified institutional buyers. The company will also grant initial purchasers a 13-day option to buy up to $60 million in additional notes.

The notes will be senior unsecured obligations with semiannual interest payments starting April 1, 2026. Upon conversion, Ligand will pay cash up to the principal amount and may settle the remainder in cash, stock, or a combination. The company plans to use the proceeds for convertible note hedge transactions, up to $30 million for share repurchases, and general corporate purposes including potential business investments.

To manage dilution, Ligand will enter into convertible note hedge and warrant transactions with option counterparties, though the warrant transactions could have a dilutive effect if the stock price exceeds the warrant strike price.

Ligand Pharmaceuticals (Nasdaq: LGND) reported strong Q2 2025 financial results and raised its full-year guidance. Total revenue reached $47.6 million, up 15% year-over-year, driven by a 57% increase in royalty revenue to $36.4 million. The company raised its 2025 guidance, now expecting total revenue of $200-225 million and adjusted EPS of $6.70-7.00.

Key highlights include the completion of the Pelthos Therapeutics merger, a $40 million strategic investment in Orchestra BioMed, and the commercial launch of Zelsuvmi. The company maintains a strong financial position with $245 million in cash and investments, including $26.5 million in Viking Therapeutics stock.

Ligand Pharmaceuticals (NASDAQ:LGND) has scheduled its second quarter 2025 financial results announcement for Thursday, August 7, 2025. The company will host a conference call and webcast at 8:30 AM ET to discuss the quarterly performance and provide a business update.

Investors can access the call via phone at (800) 715-9871 (U.S. & Canada) or (646) 307-1963 (International) using Conference ID 3661098. A live webcast and replay will also be available through the company's website.

Ligand Pharmaceuticals (Nasdaq: LGND) announced that its partner Pelthos Therapeutics (NYSE American: PTHS) has launched ZELSUVMI™, the first FDA-approved at-home treatment for molluscum contagiosum. The launch triggered a $5 million milestone payment to Ligand.

Following Pelthos' merger with Channel Therapeutics, Ligand now owns 56% of Pelthos. The agreement includes a 13% royalty on worldwide ZELSUVMI sales and potential for additional $5 million in commercial sales milestones.

Ligand Pharmaceuticals (Nasdaq: LGND) has completed its merger between subsidiary LNHC, Inc. and Channel Therapeutics' subsidiary CHRO Merger Sub Inc. The combined entity, Pelthos Therapeutics, will trade on NYSE American under ticker "PTHS" starting July 2, 2025.

Concurrent with the merger, Pelthos raised $50.1 million in equity capital, with $32 million from the Murchinson-led investor group and $18 million from Ligand. The company is preparing to launch ZELSUVMI™, an FDA-designated novel drug for Molluscum contagiosum infections, in July 2025. Ligand will receive a 13% royalty on worldwide ZELSUVMI sales.

ZELSUVMI is the first home-administered prescription treatment for molluscum, a condition affecting an estimated 16.7 million people in the US. Pelthos will also evaluate Channel's NaV 1.7 programs for various pain treatments.

Ligand Pharmaceuticals (NASDAQ: LGND) has announced plans to host an Investor Day event on December 9, 2025, at 10 a.m. Eastern Time at the Harvard Club in New York City. The event will feature presentations from the company's senior management team, who will discuss Ligand's corporate strategy, investment activities, royalty portfolio, and long-term financial projections. Investors and interested parties can access the event through a live webcast via Ligand's Investor Relations website at investor.ligand.com. Additional details, including dial-in information and a comprehensive agenda, will be provided as the event date approaches.

Ligand Pharmaceuticals (LGND) has announced it will ring The Nasdaq Stock Market Opening Bell on Monday, May 19, 2025. CEO Todd Davis, along with senior management and board members, will participate in the ceremony to celebrate recent company milestones, including two value-creating transactions.

Davis highlighted Ligand's transformation into a profitable, infrastructure-light organization that focuses on acquiring and generating royalties from a diverse biopharmaceutical product portfolio. The company aims to continue building on its two-year momentum, supporting partner development of breakthrough medicines, and creating long-term shareholder value. The ceremony will be broadcast live at 9:15 a.m. Eastern Time.