Inferra AI / Company / LGND
Ligand Pharmaceuticals Inc.
LGND · Health Care
Last earnings Oct 29, 2026
Key results
Revenuequarter
51%
Ligand delivered another strong quarter, with royalty revenue growing 51% year-over-year, driven by contribution from the XOMA portfolio and continued commercial momentum across our key royalty assets, including Filspari, said Todd Davis, CEO of Ligand.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
Financial Results Third Quarter 2026 Financial Results Third-quarter 2026 results reflect continued strength in the royalty business, with royalty revenue increasing 51% year-over-year to $70.3 million, compared with $46.6 million for the prior-year period.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
Total revenuequarter
$78.7 million
Total revenues and income for the third quarter of 2026 were $78.7 million, compared with $115.5 million for the prior-year period, representing a decrease of 32%.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
Excluding that income, total revenues and income increased 26%.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
Contract revenuequarter
$0.5 million
Contract revenue and income were $0.5 million, compared with $58.2 million, with the decrease primarily due to the prior-year Pelthos divestiture-related income.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
Adjusted net incomequarter
$57.5 million
Adjusted net income was $57.5 million, or $2.67 per diluted share, compared with $63.8 million, or $3.09 per diluted share, for the prior-year period, representing decreases of 10% and 14%, respectively.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
The decreases were primarily attributable to the $24.5 million of Pelthos out-license income recognized in the prior-year period (see Pelthos note below) and higher general and administrative expense excluding share-based compensation and transaction and integration costs, partially offset by the 51% increase in royalty revenue.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
Total revenues and income were $194.2 million, compared with $208.4 million, representing a decrease of 7%.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
AI analysis
Q3 2026 · reported Oct 29, 2026
Based on: Earnings release + parent 8-K — transcript not held
The quarter in charts
Headline figures
| Metric | Q3 2026 | Prior qtr | Year ago |
|---|---|---|---|
| Revenue | 51% | — | — |
| Total revenue | $78.7 million | — | $115.5 million |
| Contract revenue | $0.5 million | — | $58.2 million |
| Adjusted net income | $57.5 million | — | — |
Guidance · company-stated
Direction: Raised
“3 million Raises Full-Year 2026 Adjusted Diluted EPS Guidance to $9.”
“50 1 Reaffirms Revenue Guidance Conference call begins at 8 30 a.”
“2026 Financial Guidance Ligand is raising its 2026 full year adjusted earnings per diluted share guidance and reaffirming its 2026 revenue guidance.”
Classified from the release's primary full-year outlook statement.
Capital allocation
The decrease was primarily driven by cash used for the XOMA acquisition, partially offset by the proceeds from the Company s issuance of its convertible senior notes due 2031.
As of September 30, 2026, including its equity investments and availability under its credit facility, Ligand has approximately $750 million of deployable capital available to pursue additional royalty acquisitions and strategic investments.
Company-stated claims
Forward-looking · 23% CAGR · other
“Ligand Expected Royalty Receipts1 5-Year Outlook To Be Updated In December Current 5-Year Target From 2025 Investor Day 23% CAGR Positive developments which are expected to drive an increase to the long-term outlook include: Acquisition of XOMA is immediately accretive and is expected to drive significant growth The FDA approved Filspari to be the first FDA approved treatment in FSGS in April 2026, creating a significant commercial opportunity to expand beyond IgAN.”
EX-99 · Apr 27, 2026Event summary
Eastern Time to discuss the results and answer questions
Based on: Earnings release + parent 8-K — transcript not held
Guidance & outlook
Direction: Raised
EPS: “3 million Raises Full-Year 2026 Adjusted Diluted EPS Guidance to $9.”
EPS — Raised (“Raises”)
“3 million Raises Full-Year 2026 Adjusted Diluted EPS Guidance to $9.”
Revenue — Reiterated (“Reaffirms”)
“50 1 Reaffirms Revenue Guidance Conference call begins at 8 30 a.”
Revenue — Raised (“raising”)
“2026 Financial Guidance Ligand is raising its 2026 full year adjusted earnings per diluted share guidance and reaffirming its 2026 revenue guidance.”
Classified from the release's primary full-year outlook statement.
Capital allocation
The decrease was primarily driven by cash used for the XOMA acquisition, partially offset by the proceeds from the Company s issuance of its convertible senior notes due 2031.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
As of September 30, 2026, including its equity investments and availability under its credit facility, Ligand has approximately $750 million of deployable capital available to pursue additional royalty acquisitions and strategic investments.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
(2) Amounts represent (a) non-cash interest expense in connection with the royalty and milestone payments purchase agreement assumed as part of the Novan acquisition in September 2023 (b) non-cash debt related costs that are calculated in accordance with the authoritative accounting guidance for our convertible debt instruments that may be settled in cash and revolving credit facility and (c) non-cash interest income from notes receivable.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
Strategy & priorities
With a strong balance sheet and a portfolio of over 200 assets, we are well positioned to continue executing our royalty aggregation strategy, and we look forward to sharing an updated five-year outlook at our investor day on December 8th.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
The increase primarily reflects transaction and integration costs and share-based compensation associated with the XOMA acquisition, as well as higher employee-related costs from the expansion of Ligand s portfolio management and origination platform to scale its royalty portfolio.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
The increase primarily reflects transaction and integration costs and share-based compensation associated with the XOMA acquisition, as well as higher employee-related costs, including increased headcount, from the expansion of Ligand s portfolio management and origination platform to scale its larger royalty portfolio.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
As of September 30, 2026, including its equity investments and availability under its credit facility, Ligand has approximately $750 million of deployable capital available to pursue additional royalty acquisitions and strategic investments.
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
On October 28, 2026, Palvella announced the FDA accepted for filing and granted Priority Review of the New Drug Application ( NDA ) for Qtorin rapamycin for the treatment of microcystic lymphatic malformations ( microcystic LMs ).
SEC original ↗Ligand Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2026
Earnings deck slides
0 decks with slide viewLigand Pharmaceuticals Inc. — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
32 documents- Q3 2026
- 8-KLGND
Oct 29, 2026
- Q2 2026
- 8-KLGND
Sep 24, 2026
- 8-KLGND
Sep 22, 2026
- 8-K/ALGND
- 10-QLGND
- 8-KLGND
- 8-KLGND
Jul 14, 2026
- Q1 2026
- 8-KLGND
Jun 25, 2026
- 8-KLGND
Jun 22, 2026
- EX-99LGND
- 8-KLGND
- 8-KLGND
May 18, 2026
- 10-QLGND
- 8-KLGND
- 8-KLGND
Apr 30, 2026
- 8-KLGND
Apr 27, 2026
- Q4 2025
- 10-KLGND
Feb 27, 2026
- 8-KLGND
Feb 26, 2026
- Q3 2025
- 8-KLGND
Dec 18, 2025
- 10-QLGND
- 8-KLGND
- Q2 2025
- 8-KLGND
Sep 16, 2025
- 8-KLGND
Aug 14, 2025
- 8-KLGND
Aug 11, 2025
- 10-QLGND
- 8-KLGND
- 8-KLGND
- Q1 2025
- 8-KLGND
- 10-QLGND
- 8-KLGND
- 8-KLGND
Apr 17, 2025
- Q4 2024
- 10-KLGND
Feb 28, 2025
Earnings releases
15 documentsPresentations
1 document- Q1 2026
- LGNDDeck
Transcripts
0 documentsNo transcripts for Ligand Pharmaceuticals Inc. are held in this edition of the library.
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