Ligand Pharmaceuticals Incorporated filed a current report describing Amendment No. 1 to its Agreement and Plan of Merger with XOMA Royalty Corporation and Flex Merger Sub, Inc. The amendment, dated May 16, 2026, adds XOMA Royalty Holdings Corporation as a party to the merger agreement.
The transaction structure contemplates a holding company reorganization under Nevada law, with XOMA Royalty Holdings Corporation surviving as a wholly owned subsidiary of Ligand. The report emphasizes that XOMA Royalty will file preliminary and definitive proxy statements, and that its stockholders should base any vote on those proxy materials.
The filing includes extensive forward-looking statement language highlighting risks that could prevent or delay completion of the proposed acquisition, including regulatory approvals, XOMA Royalty stockholder approval, integration challenges, transaction costs, market conditions and potential litigation. Amendment No. 1 itself is filed as Exhibit 2.1 and incorporated by reference.
Ligand Pharmaceuticals Incorporated filed a current report describing Amendment No. 1 to its Agreement and Plan of Merger with XOMA Royalty Corporation and Flex Merger Sub, Inc. The amendment, dated May 16, 2026, adds XOMA Royalty Holdings Corporation as a party to the merger agreement.
The transaction structure contemplates a holding company reorganization under Nevada law, with XOMA Royalty Holdings Corporation surviving as a wholly owned subsidiary of Ligand. The report emphasizes that XOMA Royalty will file preliminary and definitive proxy statements, and that its stockholders should base any vote on those proxy materials.
The filing includes extensive forward-looking statement language highlighting risks that could prevent or delay completion of the proposed acquisition, including regulatory approvals, XOMA Royalty stockholder approval, integration challenges, transaction costs, market conditions and potential litigation. Amendment No. 1 itself is filed as Exhibit 2.1 and incorporated by reference.
LIGAND PHARMACEUTICALS INC director John W. Kozarich reported a combination of option exercises and open-market sales of common stock. He exercised non-qualified stock options covering 2,034 shares at an exercise price of $69.5100 per share and sold 2,501 shares in multiple transactions at prices around $223–$234 per share. The filing shows he directly owned 41,786 common shares after the reported transactions. All trades were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 7, 2025, indicating they were scheduled in advance rather than timed discretionarily.
LIGAND PHARMACEUTICALS INC director John W. Kozarich reported a combination of option exercises and open-market sales of common stock. He exercised non-qualified stock options covering 2,034 shares at an exercise price of $69.5100 per share and sold 2,501 shares in multiple transactions at prices around $223–$234 per share. The filing shows he directly owned 41,786 common shares after the reported transactions. All trades were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 7, 2025, indicating they were scheduled in advance rather than timed discretionarily.
LGND reporting person John Kozarich disclosed recent sales of Common Stock under Rule 144 procedures. The filing lists a planned Stock Option Exercise for 1,575 shares on 05/13/2026 through Morgan Stanley Smith Barney LLC as issuer-directed cash settlement. The record also lists four recent dispositions: 459, 467, 467, and 467 shares on 05/12/2026, 05/01/2026, 04/01/2026, and 03/02/2026 respectively, with gross proceeds shown in the filing.
LGND reporting person John Kozarich disclosed recent sales of Common Stock under Rule 144 procedures. The filing lists a planned Stock Option Exercise for 1,575 shares on 05/13/2026 through Morgan Stanley Smith Barney LLC as issuer-directed cash settlement. The record also lists four recent dispositions: 459, 467, 467, and 467 shares on 05/12/2026, 05/01/2026, 04/01/2026, and 03/02/2026 respectively, with gross proceeds shown in the filing.
John Kozarich submitted a Form 144 proposing the sale of 459 shares of Common Stock of the issuer on 05/12/2026.
The filing lists the sale method as a Stock Option Exercise with cash proceeds and identifies Morgan Stanley Smith Barney LLC as the broker. The excerpt also shows three prior dispositions by John Kozarich of 467 shares each on 05/01/2026, 04/01/2026, and 03/02/2026 with the reported gross amounts $111,519.60, $94,440.09, and $93,632.37, respectively.
John Kozarich submitted a Form 144 proposing the sale of 459 shares of Common Stock of the issuer on 05/12/2026.
The filing lists the sale method as a Stock Option Exercise with cash proceeds and identifies Morgan Stanley Smith Barney LLC as the broker. The excerpt also shows three prior dispositions by John Kozarich of 467 shares each on 05/01/2026, 04/01/2026, and 03/02/2026 with the reported gross amounts $111,519.60, $94,440.09, and $93,632.37, respectively.
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 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 reported first quarter 2026 results showing strong royalty-driven growth but a GAAP loss due to investment marks. Total revenues and income were $51.7 million, up 14% from $45.3 million a year earlier, as royalty revenue rose 56% to $43.0 million.
GAAP net loss narrowed to $13.3 million, or $0.67 per share, from a $42.5 million loss, mainly because 2025 included large one-time R&D charges. Adjusted net income increased to $34.6 million, or $1.63 per diluted share. Ligand reaffirmed 2026 guidance, including expected royalty revenue of $225–$250 million and total revenue of $270–$310 million, reflecting an anticipated partial-year contribution from the pending XOMA Royalty acquisition.
Ligand Pharmaceuticals reported first quarter 2026 results showing strong royalty-driven growth but a GAAP loss due to investment marks. Total revenues and income were $51.7 million, up 14% from $45.3 million a year earlier, as royalty revenue rose 56% to $43.0 million.
GAAP net loss narrowed to $13.3 million, or $0.67 per share, from a $42.5 million loss, mainly because 2025 included large one-time R&D charges. Adjusted net income increased to $34.6 million, or $1.63 per diluted share. Ligand reaffirmed 2026 guidance, including expected royalty revenue of $225–$250 million and total revenue of $270–$310 million, reflecting an anticipated partial-year contribution from the pending XOMA Royalty acquisition.
Ligand Pharmaceuticals’ CLO & Secretary Andrew Reardon reported a pre-planned option exercise and share sale. On May 1, 2026, he exercised employee stock options for 5,000 shares of common stock at $52.27 per share and sold 5,000 shares of common stock in open-market transactions at weighted-average prices ranging from about $227 to $234 per share. The filing notes these trades were made under a Rule 10b5-1 trading plan adopted on November 24, 2025, indicating they were scheduled in advance rather than timed discretionarily.
Ligand Pharmaceuticals’ CLO & Secretary Andrew Reardon reported a pre-planned option exercise and share sale. On May 1, 2026, he exercised employee stock options for 5,000 shares of common stock at $52.27 per share and sold 5,000 shares of common stock in open-market transactions at weighted-average prices ranging from about $227 to $234 per share. The filing notes these trades were made under a Rule 10b5-1 trading plan adopted on November 24, 2025, indicating they were scheduled in advance rather than timed discretionarily.
LGND Rule 144 notice reporting proposed sales of Common shares. The filing lists 467 shares referenced repeatedly, an issuer listing at Nasdaq, and three recent sale entries by John Kozarich dated 02/02/2026, 03/02/2026, and 04/01/2026 with numeric values shown beside each entry.
LGND Rule 144 notice reporting proposed sales of Common shares. The filing lists 467 shares referenced repeatedly, an issuer listing at Nasdaq, and three recent sale entries by John Kozarich dated 02/02/2026, 03/02/2026, and 04/01/2026 with numeric values shown beside each entry.
Ligand Pharmaceuticals Inc ownership filing: Vanguard Capital Management reported beneficial ownership of 997,637 shares of Common Stock, representing 5% of the class as of 03/31/2026. The filing states Vanguard has sole dispositive power over 997,637 shares and sole voting power for 149,548 shares.
Ligand Pharmaceuticals Inc ownership filing: Vanguard Capital Management reported beneficial ownership of 997,637 shares of Common Stock, representing 5% of the class as of 03/31/2026. The filing states Vanguard has sole dispositive power over 997,637 shares and sole voting power for 149,548 shares.