Ligand Pharma SEC Filings

Ligand Pharmaceuticals (LGND) reported a strong Q3 2025. Total revenues and other income rose to $115.5 million from $51.8 million, led by royalties of $46.6 million and $58.2 million of contract revenue and other income.

Operating income improved to $54.9 million from $3.1 million, and non‑operating items added $86.2 million, including gains from equity‑method and other investments. Net income reached $117.3 million versus a loss a year ago, with diluted EPS of $5.68. Results included $53.1 million of income from the Pelthos transaction and higher royalties from products such as Filspari, Ohtuvayre, and Capvaxive.

The balance sheet expanded: cash and cash equivalents were $139.4 million and short‑term investments $525.1 million. The company issued $460.0 million of 2030 convertible senior notes, with $445.5 million reported as long‑term notes at quarter‑end. R&D expense increased to $21.0 million, reflecting portfolio activity. Stockholders’ equity rose to $950.2 million.

Ligand Pharmaceuticals (LGND) announced quarterly results by issuing a press release covering its financial performance for the three and nine months ended September 30, 2025.

The press release is furnished as Exhibit 99.1 and, in line with General Instruction B.2., the information is furnished rather than filed, which limits its treatment under the Exchange Act.

Ligand Pharmaceuticals (LGND): Form 4 insider transaction

Director John W. Kozarich reported open‑market sales of Ligand common stock on 11/03/2025 pursuant to a Rule 10b5‑1 trading plan adopted on March 07, 2025. Reported sales were executed in multiple trades: 84 shares at a weighted‑average price of $188.9968, 49 shares at $190.2579, 207 shares at $191.2494, and 127 shares at $192.3781. Following these transactions, the reporting person beneficially owned 44,588 shares, held directly. Prices reflect weighted averages across multiple executions within disclosed ranges.

Ligand Pharmaceuticals (LGND) reported an insider transaction by director John W. Kozarich. On 10/01/2025, he executed multiple open-market sales of common stock under a Rule 10b5-1 trading plan adopted on March 07, 2025.

Sales were small blocks of 24, 196, 155, and 92 shares at weighted-average prices of $177.6048, $178.4051, $180.0098, and $181.1838, respectively. Following these transactions, he directly beneficially owned 45,055 shares.

Footnotes state the prices reflect weighted averages across multiple trades within disclosed price ranges, with full breakdowns available upon request. The filing lists the reporting person as a Director with direct ownership.

Form 144 notice for Ligand Pharmaceuticals, Inc. (LGND) regarding proposed and recent sales of common stock. The filer reports a proposed sale of 467 shares through UBS Financial Services (Eleven Madison Avenue, New York) with an aggregate market value of $82,509.56 and an approximate sale date of 10/01/2025. The filing shows the securities were acquired on 06/09/2023 from the issuer and that payment was completed on that date. The filer also disclosed sales in the past three months by John Kozarich totaling 1,868 shares on 07/10/2025, 08/01/2025, and 09/02/2025, with reported gross proceeds of $116,750.00, $61,614.49, and $75,746.26, respectively. The filing includes the filer’s certification that they are not aware of undisclosed material adverse information.

Jason Aryeh, a director of Ligand Pharmaceuticals (LGND), reported the sale of 10,000 shares of Ligand common stock on 09/23/2025. The sales occurred in multiple transactions at weighted-average prices reported in three groupings: $170.4051 (range $169.6625–$170.6600), $170.9643 (range $170.6850–$171.6050), and $171.9237 (range $171.7250–$172.2400).

After these transactions Mr. Aryeh directly beneficially owned between 69,289 and 74,871 shares across the reported lines and retains indirect holdings of 51,594 shares through funds managed by JALAA Equities, LP/JLV Investments, LP and 5,025 shares held by a trust. The Form 4 was signed on 09/24/2025 by an attorney-in-fact.

Martine Zimmermann, a director of Ligand Pharmaceuticals (LGND), reported a disposal of company common stock related to tax withholding on 09/22/2025. The Form 4 shows 115 shares were withheld at an effective price of $170.77 per share to satisfy tax obligations arising from the settlement of restricted stock units, leaving Ms. Zimmermann with 4,443 shares beneficially owned on a direct basis. The filing was signed by an attorney-in-fact on behalf of the reporting person on 09/24/2025. The entry is a routine insider tax-withholding transaction rather than an active market sale.

Form 144 notice for proposed sale of 10,000 common shares by an insider through Morgan Stanley Smith Barney LLC. The filing states the aggregate market value of the shares to be sold is $1,708,087.44 based on 10,000 shares, with approximately 19,596,560 shares outstanding for the issuer. The approximate date of sale is listed as 09/23/2025. The filer reports no securities sold in the past three months. Acquisition details show the 10,000 shares were acquired in multiple lots between 06/04/2022 and 06/06/2025 via restricted stock grants and exercised share transactions, with specific lot sizes and payment methods noted where applicable.

Form 144 notice for Ligand Pharmaceuticals, Inc. (LGNZZ): An insider filed to sell 10,000 shares of the company's common stock through Charles Schwab & Co., with an approximate aggregate market value of $1,685,000. The filing reports the shares were acquired in the open market on October 9, 2014 (payment dated October 1, 2014) and the proposed sale date is September 17, 2025 on NASDAQ. The filing states there were 19,596,560 shares outstanding, and no securities were sold by the filer in the past three months. The filer certifies no undisclosed material information is known.