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Ligand Pharmaceuticals’ Chief Legal Officer and Secretary Andrew Reardon reported a set of planned insider transactions in company stock. On March 4, 2026, he exercised employee stock options for 5,000 shares of common stock and then sold 5,000 common shares in a series of open-market trades.
The sales were executed at weighted-average prices disclosed in ranges between approximately $197.58 and $208.97, under a Rule 10b5-1 trading plan adopted on November 24, 2025. After these transactions, Reardon directly holds 36,869 common shares and 54,444 options, with the underlying option grant vesting over time.
Ligand Pharmaceuticals’ Chief Legal Officer and Secretary Andrew Reardon reported a set of planned insider transactions in company stock. On March 4, 2026, he exercised employee stock options for 5,000 shares of common stock and then sold 5,000 common shares in a series of open-market trades.
The sales were executed at weighted-average prices disclosed in ranges between approximately $197.58 and $208.97, under a Rule 10b5-1 trading plan adopted on November 24, 2025. After these transactions, Reardon directly holds 36,869 common shares and 54,444 options, with the underlying option grant vesting over time.
Ligand Pharmaceuticals’ Chief Financial Officer Octavio Espinoza reported option exercises and share sales in company stock. On March 4, 2026, he exercised employee stock options covering 2,073 shares of common stock and then sold 13,423 shares in open-market transactions.
The sales were executed at weighted-average prices generally between $198.37 and $208.95 pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 19, 2025. After these transactions, he directly owned 21,662 shares of Ligand common stock.
Ligand Pharmaceuticals’ Chief Financial Officer Octavio Espinoza reported option exercises and share sales in company stock. On March 4, 2026, he exercised employee stock options covering 2,073 shares of common stock and then sold 13,423 shares in open-market transactions.
The sales were executed at weighted-average prices generally between $198.37 and $208.95 pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 19, 2025. After these transactions, he directly owned 21,662 shares of Ligand common stock.
Ligand Pharmaceuticals director Stephen L. Sabba exercised a stock option for 2,034 common shares at $69.51 per share and on the same day sold 2,034 shares at $201.50 per share in an open-market transaction. He now directly holds 33,793 common shares.
Ligand Pharmaceuticals director Stephen L. Sabba exercised a stock option for 2,034 common shares at $69.51 per share and on the same day sold 2,034 shares at $201.50 per share in an open-market transaction. He now directly holds 33,793 common shares.
Ligand Pharmaceuticals director John W. Kozarich reported open-market sales of company common stock. On March 2, 2026, he sold a total of 467 shares in six separate transactions under a written trading plan adopted on March 7, 2025 in accordance with Rule 10b5-1.
The reported weighted-average prices for these sales ranged from about $197 to $203 per share, based on detailed price ranges in the filing. After completing the transactions, Kozarich directly owned 42,720 shares of Ligand Pharmaceuticals common stock.
Ligand Pharmaceuticals director John W. Kozarich reported open-market sales of company common stock. On March 2, 2026, he sold a total of 467 shares in six separate transactions under a written trading plan adopted on March 7, 2025 in accordance with Rule 10b5-1.
The reported weighted-average prices for these sales ranged from about $197 to $203 per share, based on detailed price ranges in the filing. After completing the transactions, Kozarich directly owned 42,720 shares of Ligand Pharmaceuticals common stock.
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.
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 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 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 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.