Every 10-Q that Ligand Pharma (LGND) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow LGND and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LGND filings page.
Ligand Pharmaceuticals generated Q2 2026 total revenues and income of 63,693 (in thousands), up from 47,627 a year earlier, driven mainly by royalties of 48,032. Key contributors were Filspari (13,567), Kyprolis (7,044) and Ohtuvayre (4,144), while Captisol sales and contract revenue were smaller components.
Operating income was 8,591 (in thousands), but results were heavily boosted by non‑operating gains, including 11,754 from short‑term investments and 35,727 from fair‑value changes in equity‑method and other investments. Net income rose to 48,508 (vs. 4,847), with year‑to‑date net income of 35,163 versus a prior‑year loss. Basic EPS was $2.42 for the quarter.
Cash and cash equivalents reached 1,006,702 (in thousands) at June 30, 2026, plus short‑term investments of 351,056, supported by issuance of 700,000 principal of 0.00% convertible senior notes due 2031, bringing total convertible notes outstanding to 1,160,000. Ligand continued its royalty‑centric strategy through Pelthos, Orchestra, Zerion and other deals, with gross financial royalty assets of 209,699 (in thousands).
Ligand Pharmaceuticals reported Q1 2026 revenues and income of $51.7 million, up from $45.3 million in Q1 2025, driven mainly by higher royalties. Royalties rose to $43.0 million from $27.5 million, including strong contributions from Filspari, Kyprolis and Qarziba.
The company generated operating income of $17.4 million versus a prior-year operating loss, but recorded a non-operating loss of $41.6 million largely from a $49.2 million fair value decline in Pelthos-related investments. Net loss narrowed to $13.3 million, or $0.67 per share, compared with a $42.5 million loss a year earlier.
Ligand ended March 31, 2026 with cash and cash equivalents of $115.1 million and short‑term investments of $664.3 million. It has $460.0 million of 0.75% convertible senior notes due 2030 outstanding and reported operating cash flow of $48.7 million for the quarter.
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) reported stronger results in the quarter ended June 30, 2025, with total revenues of $47.6 million, up from $41.5 million a year earlier, driven by higher royalties of $36.4 million and a jump in income from financial royalty assets to $6.3 million from $0.6 million. Operating income for the quarter turned positive at $8.4 million compared with an operating loss a year earlier, reflecting higher royalty receipts and Captisol sales.
Despite the quarterly improvement, the first half of 2025 produced a $51.9 million net loss versus net income of $34.2 million in the prior-year period, largely reflecting non-operating swings and a $44.3 million one-time research and development expense tied to the Castle Creek transaction. Material transactions this period include the Castle Creek investment (Ligand funded $50 million of a $75 million syndicate, allocating $44.3 million to D-Fi royalty rights and $5.8 million to a warrant) and the prior Apeiron acquisition (base consideration $100.5 million with Qarziba royalty assets added). Balance sheet highlights: total assets $948.6 million, cash $67.7 million, and stockholders' equity $828.5 million; Pelthos was classified as held for sale with assets of $35.2 million and related liabilities of $35.7 million.