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Ligand Pharmaceuticals Incorporated (LGND) filed an amended current report to add historical financial statements for its recently acquired subsidiary XOMA Royalty Corporation and unaudited pro forma combined financial information reflecting the completed merger. XOMA Royalty operates as a royalty aggregator with a large portfolio of milestone, royalty, and commercial payment rights.
As of June 30, 2026, XOMA Royalty reported total assets of $244.3 million, including cash, cash equivalents and restricted cash of $150.6 million, and total liabilities of $157.1 million, leaving stockholders’ equity of $87.3 million. Long-term and current debt together totaled about $103.1 million. For the six months ended June 30, 2026, XOMA generated $29.3 million of income and revenues but recorded a net loss of $41.2 million, driven by $23.6 million of impairment charges and $19.7 million of credit losses on purchased receivables.
Royalty and commercial payment receivables were significant, with $30.0 million accounted for under the Effective Interest Rate method and $36.2 million under the cost recovery method. Despite the loss, XOMA reported $4.6 million of net cash provided by operating activities in the first half of 2026 and concluded its liquidity is sufficient to fund planned operations, commitments, and obligations for at least one year after the financial statements’ issuance date.
LIGAND PHARMACEUTICALS INC’s Chief Financial Officer, Octavio Espinoza, reported option-related transactions and a share sale on August 12, 2026. He exercised stock options covering 31,641 shares of common stock at exercise prices between $52.84 and $70.04 per share, then sold 31,641 shares of common stock at a weighted-average price of $292.065 per share in multiple transactions. The company notes these trades were made under a written Rule 10b5-1 trading plan adopted on May 13, 2026.
Ligand Pharmaceuticals director Jason Haas reported an option exercise and share sale dated August 12, 2026. He exercised a Non-Qualified Stock Option for 6,138 shares of common stock at an exercise price of $51.56 per share, fully disposing of this option grant. He then reported acquiring 6,138 common shares from the exercise and selling 7,138 common shares at a weighted-average price of $292.8078 per share, with individual sale prices ranging from $292.5000 to $292.8550. The Rule 10b5-1 trading-plan checkbox was not marked for these transactions.
Invesco Ltd. reports a significant ownership stake in Ligand Pharmaceuticals Inc. common stock. Invesco, as a parent holding company to its investment advisers, may be deemed to beneficially own 1,218,846 shares of Ligand, representing 6.1% of the outstanding common stock as of June 30, 2026.
Invesco has sole voting power over 1,199,033 shares and sole dispositive power over 1,218,846 shares, with no shared voting or dispositive power. The shares are held of record by Invesco’s advisory clients, who have the right to receive dividends and sale proceeds, and no single client has more than 5% economic ownership of the class.
Ligand common stockholder Jason Haas filed a Form 144 indicating an intent to sell common shares of LGND through Morgan Stanley Smith Barney LLC on or after August 12, 2026, with sales expected on NASDAQ. The securities to be sold were acquired from the issuer via stock option exercises dated August 12, 2026 for 2,759 and 3,379 common shares, and via restricted stock granted June 29, 2025 for 1,000 shares. The filing also reports that, in the prior three months, Haas sold 6,461 common shares on June 12, 2026 for aggregate consideration of 1651320.33.
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 strong second‑quarter 2026 results, with total revenues and income of $63.7 million versus $47.6 million a year earlier, driven by 32% growth in royalty revenue to $48.0 million from products including Filspari, Zelsuvmi and Ohtuvayre. Contract revenue and income rose to $7.7 million, while Captisol sales dipped slightly to $8.0 million. GAAP net income jumped to $48.5 million, or $2.22 per diluted share, from $4.8 million, and adjusted net income rose to $50.8 million, or $2.37 per diluted share.
For the first half of 2026, royalties increased 42% to $91.0 million and the company swung to GAAP net income of $35.2 million from a loss of $37.6 million. Liquidity strengthened, with cash, cash equivalents and short‑term investments of $1.36 billion, supported by a $700 million 0.00% convertible senior notes issuance; $60 million of proceeds funded repurchase of 228,859 shares and $82 million a call‑spread overlay to limit dilution. Post‑closing of the XOMA Royalty acquisition, Ligand’s royalty portfolio exceeds 200 assets and management expects the deal to add about $0.50 to 2026 and $1.50 to 2027 adjusted EPS. Full‑year 2026 guidance is reaffirmed for revenue and raised for adjusted EPS to $9.00–$9.50 per diluted share.
LIGAND PHARMACEUTICALS INC officer Andrew Reardon, CLO & Secretary, exercised 5,000 employee stock options at $52.2700 per share on August 3, 2026, receiving 5,000 common shares. That same day he sold 5,000 common shares in multiple transactions at weighted-average prices within disclosed ranges from $283.24 to $292.89 per share. After the exercise, the option grant expiring 2032-08-01 covers 29,444.0000 shares. All reported transactions were made under a written trading plan adopted November 24, 2025, in accordance with Rule 10b5-1.
Ligand Pharmaceuticals CLO & Secretary Andrew Reardon reported an exercise-and-sell transaction in company stock. On July 1, 2026, he exercised 5,000 stock options at $52.27 per share and sold 5,000 shares of common stock in multiple open-market trades at prices generally around the low-to-mid $300s. The filing notes these transactions were made under a pre-arranged Rule 10b5-1 trading plan. On June 30, 2026, he also acquired 132 shares through the Ligand Employee Stock Purchase Plan in an exempt transaction, and he continues to hold a substantial direct equity stake after these trades.