Ligand Pharma SEC Filings

LGND reported a proposed sale of common stock on a Form 144 with transactions dated 03/04/2026. The filing lists an $2,741,513.52 figure and the number 19,941,141 in the header. The excerpt shows planned sales tied to an exercise of stock options of 2,073 shares on 03/04/2026 and Restricted & Performance Stock Units of 11,350 shares with an award date of 12/31/2025. The sales are shown as common stock to be sold through Morgan Stanley Smith Barney LLC.

Ligand Pharmaceuticals filed a Form S-3 shelf registration to offer up to $100,000,000 of common stock through an at-the-market sales agreement with Leerink Partners LLC. Sales may occur from time to time after the effective date and proceeds are payable to the issuer. The prospectus supplement states the company had 19,774,343 shares outstanding as of December 31, 2025. The sales agent may receive up to 3.0% of gross proceeds as compensation, and the number and timing of sales will vary with market conditions and company instructions.

Ligand Pharmaceuticals Incorporated presents its annual report describing a royalty-focused biopharmaceutical business model built around capital deployment and licensing rather than in‑house drug development. The company aggregates royalty interests in mid‑ to late‑stage and commercial products, supported by infrastructure‑light platforms such as Captisol and NITRICIL.

Ligand highlights 12 major commercial royalty assets and more than 100 additional partnered programs, with 2025 royalty receipts of $176.9 million and GAAP income from royalty assets of $161.0 million. Key assets include Kyprolis, Qarziba, Filspari, Ohtuvayre, Capvaxive, Vaxneuvance, Rylaze, Evomela and Zelsuvmi.

During 2025, Ligand executed several investments and strategic transactions, including royalty financings with Castle Creek and Orchestra BioMed, a royalty and warrant deal with Arecor, and the Pelthos Transaction, which spun out Zelsuvmi into Pelthos Therapeutics while retaining equity, milestones and a 13% royalty. As of February 24, 2026, Ligand had 19,941,141 common shares outstanding.

Ligand Pharmaceuticals Incorporated reported a sharp turnaround in 2025, with total revenues and income of $268.1 million compared with $167.1 million in 2024, driven mainly by royalty growth and Pelthos-related contract revenue. GAAP net income reached $124.5 million, or $6.13 per diluted share, versus a net loss of $4.0 million, or $0.22 per share, the prior year.

Core adjusted net income rose to $165.1 million, or $8.13 per diluted share, from $108.5 million, or $5.74 per diluted share. Fourth quarter 2025 revenues and income were $59.7 million, up from $42.8 million, with GAAP diluted EPS of $2.12 compared with a loss of $1.64. Cash, cash equivalents and short‑term investments were $733.5 million at December 31, 2025.

For 2026, Ligand reaffirmed guidance for total revenue of $245 million to $285 million, including $200 million to $225 million of royalty revenue, $35 million to $40 million of Captisol revenue and $10 million to $20 million of contract revenue, and expects adjusted earnings per diluted share of approximately $8.00 to $9.00.

Ligand Pharmaceuticals’ CLO & Secretary Andrew Reardon reported equity compensation activity and related tax withholding in company stock. On February 14, 2026, he acquired 6,928 and 8,810 shares of common stock at no cost through grants tied to performance stock units and restricted stock units.

On February 14–15, 2026, several transactions coded “F” show blocks of common shares, including 3,211 and 4,083 shares at $183.83 per share, being withheld by the issuer to cover tax liabilities from these equity awards, rather than open‑market sales.

Ligand Pharmaceuticals Chief Financial Officer equity transactions center on PSU and RSU settlements and related tax withholding. On February 14, Octavio Espinoza acquired 7,390 and 8,810 shares of common stock at $0 per share through grants tied to performance and restricted stock units. On February 14–15, he disposed of a total of 11,763 shares at $183.83 per share in tax-withholding dispositions, where shares were withheld by the issuer to cover tax liabilities.

Ligand Pharmaceuticals CEO Todd C. Davis reported equity compensation activity involving common stock. On February 14, 2026, he acquired 20,782 and 39,644 shares at $0.00 per share as grants tied to performance and restricted stock units. On February 14–15, 2026, a total of 32,877 shares at $183.83 per share were disposed of as share-withholding transactions to cover tax liabilities upon PSU and RSU settlement. After these transactions, his directly owned holdings remained in the mid‑190,000 share range across the reported rows.

Ligand Pharmaceuticals director John W. Kozarich sold 467 shares of common stock in a planned transaction. The sales occurred on February 2, 2026 at prices ranging from $191.00 to $197.195 per share in several small trades.

After these sales, Kozarich directly beneficially owned 43,187 shares of Ligand common stock. The filing notes that the transactions were executed under a written trading plan adopted on March 7, 2025 in accordance with Rule 10b5-1, which allows pre-arranged trading by insiders.

Ligand Pharmaceuticals insider selling notice: A Form 144 reports a planned sale of 467 shares of Ligand common stock through UBS Financial Services Inc., with an aggregate market value of 89,748.06. The shares are listed on Nasdaq, and 19,681,720 shares were outstanding at the time referenced.

The shares to be sold are common stock acquired on 04/24/2024 from the issuer in various transactions, totaling 467 shares. The filing also notes that John Kozarich has sold 467 common shares in each of three transactions over the past three months, with gross proceeds of 91,456.91, 89,219.00, and 88,532.51.