{"filings":[{"id":2088136,"accession_number":"0000886163-26-000041","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2026-08-06T11:05:02+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q2 royalty rev +32% YoY; raises 2026 adj EPS guidance; closes XOMA deal","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q2 royalty rev $48.0M (+32% YoY); total rev $63.7M (+34%); GAAP EPS $2.22 (vs $0.24); adj EPS $2.37 (vs $1.60).","2026 adj EPS guidance raised to $9.00-$9.50 (from $8.50-$9.50); total revenue guidance unchanged at $270M-$310M.","Completed XOMA Royalty acquisition on July 14 for $39.00/share + CVR; expected to add ~$0.50 to 2026 adj EPS and ~$1.50 to 2027 adj EPS.","Issued $700M 0% convertible notes due 2031; repurchased 228,859 shares at ~$262/share using $60M of proceeds.","Cash & short-term investments $1.36B at June 30, up from $733.5M at Dec 31, 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":1620836,"accession_number":"0001193125-26-302660","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2026-07-14T13:20:16+00:00","items":["1.01","2.01","2.03","7.01","9.01"],"status":"ready","headline":"Ligand completes acquisition of XOMA Royalty for $739M; portfolio exceeds 200 assets","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Total equity value ~$739M; XOMA Royalty stockholders received $39/share cash plus one CVR per share.","Adds seven commercial products including VABYSMO, OJEMDA, and MIPLYFFA, plus 14 late-stage programs.","Portfolio more than doubled to over 200 commercial, clinical, and preclinical royalty assets.","Transaction expected to add ~$0.50 to 2026 and ~$1.50 to 2027 adjusted EPS; accretive immediately.","New $125M revolving credit facility with maturity Sept 2028; covenants include min EBITDA of $100M-$150M."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":1278804,"accession_number":"0001193125-26-282990","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2026-06-25T21:00:27+00:00","items":["1.01","2.03","3.02","8.01","9.01"],"status":"ready","headline":"Ligand closes $700M zero-coupon convertible notes offering; repurchases shares, hedges dilution","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Closed $700M aggregate principal of 0.00% Convertible Senior Notes due 2031; net proceeds ~$678.2M.","Used ~$72.9M for convertible note hedge (call spread) and ~$60M to repurchase 228,859 shares at $262.17.","Conversion price ~$334.27 (27.5% premium to stock price); notes mature Sept 15, 2031, redeemable after Sept 21, 2029.","Warrants sold at strike $524.34; may dilute stock if price exceeds strike; proceeds partially offset hedge cost.","Remaining net proceeds for general corporate purposes, including potential acquisitions."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":1176876,"accession_number":"0001193125-26-276694","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2026-06-22T11:11:41+00:00","items":["1.01","8.01","9.01"],"status":"ready","headline":"Ligand proposes $550M convertible notes due 2031; amends credit facility covenants","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Proposes $550M aggregate principal of convertible senior notes due 2031; additional $82.5M option granted to initial purchasers.","Net proceeds to fund convertible note hedge costs, up to $75M share repurchase, and general corporate purposes including Xoma acquisition.","Enters convertible note hedge and warrant transactions to reduce potential dilution from note conversion.","Fourth Amendment to credit agreement sets minimum EBITDA at $100M for periods ending June 30, 2026 through March 31, 2027, then $150M."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":945277,"accession_number":"0000886163-26-000038","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2026-06-09T20:02:51+00:00","items":["5.02","5.07"],"status":"ready","headline":"Ligand shareholders elect directors, approve equity plan amendment at annual meeting","summary_kind":"llm","event_type":"other_material","confidence":"medium","bullets":["All eight director nominees elected; Martine Zimmermann received 17,319,859 votes for, highest of the slate.","Ernst & Young ratified as independent auditor for FY2026 with 18,526,515 votes for, 257,924 against.","Non-binding say-on-pay resolution approved: 16,497,712 for, 1,021,948 against, 14,099 abstentions.","Amendment and restatement of 2002 Stock Incentive Plan approved: 16,643,281 for, 870,556 against.","All votes had substantial majority support; no director received less than 16.2M votes for."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":483157,"accession_number":"0001193125-26-228003","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2026-05-18T13:01:36+00:00","items":["1.01","9.01"],"status":"ready","headline":"Ligand and XOMA Royalty amend merger agreement to add HoldCo as party","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Amendment No. 1 dated May 16, 2026, adds XOMA Royalty Holdings Corp as a party to the merger agreement.","HoldCo was formed on May 15, 2026 to facilitate the holding company reorganization under Nevada law.","Changes are technical, including joinder of HoldCo and minor section amendments; deal value/terms unchanged.","The merger was previously announced on April 27, 2026; transaction conditions remain the same."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":99460,"accession_number":"0000886163-26-000030","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2026-05-07T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q1 royalty revenue +56% to $43M; reaffirms raised guidance amid XOMA acquisition","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q1 royalty revenue $43.0M (+56% YoY); total revenue $51.7M (+14%).","GAAP net loss $13.3M ($0.67/sh) vs loss $42.5M ($2.21/sh) prior yr; adj EPS $1.63 (+23%).","Reaffirms FY2026 guidance: royalty rev $225-250M, total rev $270-310M, adj EPS $8.50-9.50.","Acquiring XOMA for $39/share in cash + CVR; adds over 120 assets incl. Vabysmo, Ojemda, Miplyffa.","Cash and investments $779.4M at Mar 31; deal expected to close Q3 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.67,"consensus_revenue_estimate":null,"consensus_revenue_actual":51722000.0,"consensus_period":"2026-Q1","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":99459,"accession_number":"0000886163-26-000027","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2026-04-30T23:59:59+00:00","items":["1.02"],"status":"ready","headline":"Ligand terminates TR-Beta license with Viking over alleged material breach; Viking disputes","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Termination of TR-Beta Program (including VK2809 and VK0214) effective May 4, 2026.","Ligand asserts Viking materially breached obligation to use commercially reasonable efforts.","Viking disputes termination; Ligand intends to vigorously enforce its termination rights.","Upon termination, licenses revert to Ligand; Viking must grant non-exclusive worldwide royalty-bearing license at low single digits royalty rate."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":99458,"accession_number":"0001193125-26-179529","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2026-04-27T23:59:59+00:00","items":["1.01","8.01","9.01"],"status":"ready","headline":"Ligand to acquire XOMA Royalty for $39/share cash plus CVR from Janssen litigation","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Cash consideration of $39.00 per XOMA Royalty share plus CVRs representing 75% of net proceeds from Janssen litigation.","Support agreements from stockholders (~47% of shares), including BFV Partners and management, to vote in favor.","Termination fee of $40M payable by XOMA Royalty under specified circumstances.","Transaction subject to XOMA Royalty stockholder approval and HSR clearance; expected to close by Jan 26, 2027.","XOMA Royalty board unanimously approved and recommends stockholders vote in favor."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":115468,"accession_number":"0000886163-26-000003","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2026-02-26T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q4 revenue $59.7M (+39% YoY), adjusted EPS $2.02 beats; FY25 core adj. EPS $8.13, +42%","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 GAAP net income $44.8M ($2.12 diluted EPS) vs loss of $31.1M in Q4 2024.","Full year 2025 royalty revenue $161.0M (+48% YoY); total revenue $268.1M (+60% YoY).","Cash and short-term investments $733.5M at Dec 31, 2025; 2026 guidance reaffirmed: rev $245-285M, adj. EPS $8.00-9.00.","Filspari Q4 net sales $103M (+108% YoY); new patient starts all-time high of 908.","Palvella Phase 3 SELVA (Qtorin rapamycin) met primary endpoint; NDA submission H2 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":6.13,"consensus_revenue_estimate":null,"consensus_revenue_actual":268087000.0,"consensus_period":"2025-FY","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.82,"calibrated_materiality_score":0.82,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":131893,"accession_number":"0001193125-25-324830","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2025-12-18T23:59:59+00:00","items":["7.01"],"status":"ready","headline":"Ligand discloses private placement investment in Athira Pharma","summary_kind":"llm","event_type":"other_material","confidence":"low","bullets":["Private placement investment in Athira Pharma, Inc. announced via social media and IR page.","No financial terms, size, or pricing disclosed in the 8-K filing.","Ligand directs investors to its website and social media for further details."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.35,"calibrated_materiality_score":0.35,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":131892,"accession_number":"0000886163-25-000058","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2025-11-06T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q3 revenue $115.5M, net income $117.3M; raises FY guidance","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q3 royalties $46.6M, up 47% YoY, driven by Filspari, Ohtuvayre, Qarziba.","Adjusted EPS $3.09 vs $1.84 YoY; GAAP net income $117.3M ($5.68 diluted).","FY 2025 core revenue guidance raised to $225M-$235M; core adj. EPS $7.40-$7.65.","Closed $460M 0.75% convertible notes due 2030; net proceeds ~$445M.","New royalty investments: $7M for AT220/AT292 rights; $25M in Orchestra BioMed."],"consensus_eps_estimate":null,"consensus_eps_actual":3.95,"consensus_revenue_estimate":null,"consensus_revenue_actual":208421000.0,"consensus_period":"2025-Q3","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":148474,"accession_number":"0001193125-25-205147","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2025-09-16T23:59:59+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"Ligand Pharmaceuticals extends credit facility maturity to Sept 2028, sets minimum EBITDA at $55M","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Third Amendment to Credit Agreement dated Sep 12, 2025 extends maturity to September 12, 2028.","New minimum consolidated EBITDA covenant: not less than $55 million for trailing four-quarter periods.","Amendment modifies credit agreement originally dated Oct 12, 2023, with all Lenders consenting.","Borrower reaffirmed obligations and Guarantors reaffirmed guarantees under the agreement."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":148473,"accession_number":"0001193125-25-180841","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2025-08-14T23:59:59+00:00","items":["1.01","2.03","3.02","8.01","9.01"],"status":"ready","headline":"Ligand closes $460M 0.75% convertible notes due 2030; net proceeds $445.1M","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Issued $460M aggregate principal of 0.75% convertible senior notes due Oct 1, 2030, including $60M greenshoe exercised.","Initial conversion price ~$194.79/share (32.5% premium over Aug 11 closing price of $147.01).","Net proceeds ~$445.1M; used $45.9M for convertible note hedge, $15M to repurchase 102,034 shares at $147.01/share.","Also entered separate warrant transactions covering ~2.36M shares at strike $294.02/share, potentially dilutive.","Notes may be redeemed at option on/after Oct 6, 2028 if stock >=130% of conversion price for 20 trading days."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":148472,"accession_number":"0001193125-25-177452","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2025-08-11T23:59:59+00:00","items":["1.01","8.01","9.01"],"status":"ready","headline":"Ligand proposes $400M convertible notes due 2030; up to $60M greenshoe","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Offering $400M aggregate principal amount of convertible senior notes due Oct 1, 2030 to QIBs.","Initial purchasers have 13-day option to buy up to an additional $60M of notes.","Up to $30M of net proceeds used to repurchase common stock from note purchasers.","Remaining net proceeds for general corporate purposes, including potential acquisitions.","Convertible note hedge and warrant transactions entered to manage dilution and offset cash payments."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":148471,"accession_number":"0000886163-25-000047","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2025-08-07T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q2 royalties up 57% to $36.4M; raises FY2025 guidance to $200-225M revenue and $6.70-7.00 adj. EPS","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q2 revenue $47.6M (+15% YoY); royalties $36.4M (+57%) driven by Qarziba and Filspari.","GAAP net income $4.8M ($0.24 diluted) vs loss $51.9M in Q2 2024; core adj. EPS $1.60 vs $1.40.","FY2025 guidance raised: revenue $200-225M (prev $180-200M), adj. EPS $6.70-7.00 (prev $6.00-6.25).","Pelthos merger closed; Zelsuvmi launched July 10; Ligand earned $5M milestone and 13% royalty.","Merck acquiring Verona for ~$10B; Ligand holds 3% royalty on Ohtuvayre (COPD)."],"consensus_eps_estimate":null,"consensus_eps_actual":-1.95,"consensus_revenue_estimate":null,"consensus_revenue_actual":92960000.0,"consensus_period":"2025-Q2","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":148470,"accession_number":"0000886163-25-000042","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2025-07-02T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"Ligand completes merger with Channel Therapeutics; Pelthos starts trading July 2 under PTHS","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Ligand subsidiary merges with Channel; combined company renamed Pelthos Therapeutics, trading on NYSE American as PTHS.","Ligand invests $18M in Pelthos; entitled to 13% royalty on worldwide net sales of ZELSUVMI.","Pelthos raises total $50.1M equity from Ligand and Murchinson-led investor group.","ZELSUVMI (berdazimer) topical gel, FDA-approved for molluscum, to launch July 2025; first at-home prescription treatment.","Pelthos to also evaluate Channel's NaV 1.7 pain development programs for chronic pain and eye pain."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":167296,"accession_number":"0000886163-25-000040","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2025-06-09T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Ligand shareholders re-elect all eight directors, ratify auditor, and approve say-on-pay","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["All eight director nominees elected, with each receiving >15.5M votes for (excluding broker non-votes).","Ratification of Ernst & Young as independent auditor for FY2025 passed with 17.27M votes for.","Non-binding advisory vote on named executive officer compensation approved with 15.58M votes for.","Broker non-votes totaled 1.36M on director elections and say-on-pay; none on auditor ratification."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.05,"calibrated_materiality_score":0.05,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":167295,"accession_number":"0000886163-25-000033","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2025-05-08T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q1 revenue up 46% to $45.3M; core adjusted EPS $1.33; reaffirms FY guidance","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenues $45.3M (+46% YoY), royalties $27.5M (+44%), Captisol $13.5M (+47%).","GAAP net loss $42.5M ($2.21/sh) includes $44.3M one-time R&D charge for Castle Creek; core adjusted net income $26.6M ($1.33/sh).","Reaffirms FY2025 guidance: revenue $180-200M, adjusted EPS $6.00-$6.25.","Pelthos to merge with Channel Therapeutics (NYSE: PTHS) backed by $50M capital; expected close summer 2025.","Led $50M of $75M Castle Creek royalty financing for D-Fi Phase 3; net mid-single digit royalty."],"consensus_eps_estimate":null,"consensus_eps_actual":-2.21,"consensus_revenue_estimate":null,"consensus_revenue_actual":45333000.0,"consensus_period":"2025-Q1","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":167294,"accession_number":"0000886163-25-000020","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2025-04-17T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"Ligand subsidiary Pelthos to merge with Channel Therapeutics; $50M capital raise","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Channel to acquire 100% of Pelthos; combined company renamed Pelthos Therapeutics, listing as PTHS on NYSE American.","Total $50M equity raised: $18M from Ligand, $32M from Murchinson-led investor group.","Ligand retains 13% royalty on worldwide sales of ZELSUVMI, FDA-approved for Molluscum contagiosum.","Scott Plesha to become CEO, Frank Knuettel CFO; board includes two Ligand appointees.","Transaction expected to close summer 2025, subject to customary conditions."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":184623,"accession_number":"0000886163-25-000008","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2025-02-27T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q4 revenue up 52% to $42.8M; core adj EPS $1.27; reaffirms 2025 guidance","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 total rev $42.8M (+52% YoY); royalties $34.8M (+55%) driven by Qarziba and Filspari.","Core adjusted net income from cont ops $25.2M ($1.27/diluted) vs $18.6M ($1.05) prior year.","Full year adj net income $156.0M ($8.25/diluted); core adj $108.5M ($5.74/diluted).","Reaffirms 2025 guidance: total rev $180-200M, adjusted EPS $6.00-$6.25.","Closed $50M royalty investment in Castle Creek Biosciences for D-Fi Phase 3 study."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.22,"consensus_revenue_estimate":null,"consensus_revenue_actual":167133000.0,"consensus_period":"2024-FY","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":184622,"accession_number":"0000886163-25-000003","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2025-02-25T23:59:59+00:00","items":["1.01","7.01","9.01"],"status":"ready","headline":"Ligand leads $75M royalty financing for Castle Creek's D-Fi gene therapy Phase 3 trial","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Ligand invested $50M and led syndicate of co-investors totaling $75M for high single-digit royalty on D-Fi worldwide sales.","Castle Creek to use funds for Phase 3 trial of D-Fi (gene therapy) for dystrophic epidermolysis bullosa (DEB).","Ligand also acquired $8.3M subordinated promissory note for $1.8M, due upon FDA approval of D-Fi.","Co-investors include Paragon Biosciences, Valor Equity Partners, and XOMA Royalty Corp. (Nasdaq: XOMA).","Warrants to purchase Series D-1 Preferred Shares exercisable until 2035."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":201207,"accession_number":"0000886163-24-000074","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-11-07T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q3 revenue $51.8M (+58% YoY); raises 2024 guidance to $160-165M revenue, $5.50-5.70 adj EPS","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q3 total revenues & other income $51.8M (vs $32.9M); royalties $31.7M (+33% YoY) on QARZIBA and FILSPARI growth.","GAAP net loss from continuing ops $7.2M ($0.39 loss/sh); core adj net income $35.3M ($1.84/sh) vs $18.0M ($1.02).","Raised 2024 guidance: revenue now $160-165M (prev $140-157M); adj EPS $5.50-5.70 (prev $5.00-5.50).","Received $13.5M milestone upon Ohtuvayre commercial launch; cash & investments $219.6M including $63.3M in VKTX stock.","Issued 334,325 shares under ATM at avg $104.70 for gross $35M; up to $65M remains available."],"consensus_eps_estimate":null,"consensus_eps_actual":1.46,"consensus_revenue_estimate":null,"consensus_revenue_actual":124321000.0,"consensus_period":"2024-Q3","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":217231,"accession_number":"0000886163-24-000067","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-08-06T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q2 revenue rises 57% to $41.5M; GAAP net loss $51.9M on $33.8M Primrose Bio writedown","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenue $41.5M (+57% YoY); royalties $23.2M (+11%); Captisol $7.5M (+44%).","GAAP net loss from continuing ops $51.9M ($2.88/sh) vs income $2.3M ($0.13) YoY; adjusted net income $25.8M ($1.40).","Core adjusted net income $25.8M vs $11.7M YoY, excluding Viking stock sales and non-cash impairments.","2024 guidance reaffirmed: royalties $100-105M, total revenue $140-157M, core adj. EPS $5.00-$5.50.","Completed $100M APEIRON Biologics acquisition (July 8); credit facility expanded to $125M."],"consensus_eps_estimate":null,"consensus_eps_actual":1.87,"consensus_revenue_estimate":null,"consensus_revenue_actual":72509000.0,"consensus_period":"2024-Q2","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":217230,"accession_number":"0000886163-24-000064","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-08-02T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Ligand Pharmaceuticals announces departure of President and COO Matthew Korenberg","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Korenberg's employment ends no later than October 31, 2024; he may resign earlier in writing.","Severance includes base salary through termination, 50% of 2024 target bonus, and COBRA coverage through Dec 31, 2024.","Post-termination consulting agreement pays $47,808/mo through Oct 31, 2024, then reduced amounts.","Stock award vesting continues through consulting period; unvested awards through Dec 31, 2025 accelerate on consulting end.","Korenberg can exercise stock awards through March 1, 2026, subject to conditions."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":217229,"accession_number":"0000886163-24-000061","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-07-17T23:59:59+00:00","items":["2.01"],"status":"ready","headline":"Ligand completes acquisition of APEIRON Biologics for $100M cash plus up to $28M contingent","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Ligand acquired all outstanding shares of APEIRON for $100M in cash at closing on July 15, 2024.","Additional contingent consideration up to $28M if QARZIBA royalties exceed predetermined thresholds by 2030 or 2034.","QARZIBA (dinutuximab beta) is approved for high-risk neuroblastoma; Ligand obtains royalty rights.","Acquisition funded from Ligand's available cash on hand; closing subject to 30-day shareholder objection period.","Deal structured as a definitive agreement first announced on July 8, 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":217228,"accession_number":"0000886163-24-000059","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-07-10T23:59:59+00:00","items":["1.01","2.03"],"status":"ready","headline":"Ligand ups revolving credit line to $125M from $75M","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["First amendment to Oct 2023 Credit Agreement executed July 8, 2024, increasing aggregate revolving commitments from $75M to $125M.","Borrowing capacity expanded by $50M; no other material changes detailed in the filing.","Credit facility includes subsidiaries as guarantors; Citibank remains administrative agent, swingline lender and L/C issuer."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.35,"calibrated_materiality_score":0.35,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":217227,"accession_number":"0000886163-24-000053","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-07-08T23:59:59+00:00","items":["1.01","7.01","9.01"],"status":"ready","headline":"Ligand acquires APEIRON for $100M, adds QARZIBA royalty; raises 2024 guidance","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Acquisition of APEIRON Biologics for $100M cash; up to $28M additional contingent consideration based on QARZIBA royalty thresholds by 2030/2034.","QARZIBA is approved in EU for high-risk neuroblastoma, marketed in >35 countries by Recordati; patent protection until 2034.","Transaction expected to close July 2024; subject to 30-day shareholder objection period and other customary conditions.","Ligand raises 2024 revenue guidance to $140M-$157M (from $130M-$142M) and core adjusted EPS to $5.00-$5.50 (from $4.25-$4.75).","Deal immediately accretive to EPS by ~$1.00 annualized; ~$0.50 impact in 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":237017,"accession_number":"0000886163-24-000051","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-06-27T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Partner Verona Pharma gets FDA approval for Ohtuvayre (COPD); Ligand earns $5.8M milestone, $13.8M at launch","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["FDA approved Ohtuvayre (ensifentrine) for maintenance treatment of COPD in adults; first novel inhaled mechanism in over 20 years.","Ligand earned a $5.8 million milestone payment; additional $13.8 million due upon commercial launch expected in Q3 2024.","Ligand is entitled to a low single-digit royalty on potential worldwide net sales of Ohtuvayre; COPD market is multi-billion dollar.","Verona Pharma is responsible for commercialization; Ligand relies on Verona for successful launch and sales.","Approval triggers immediate milestone and sets stage for further payments and ongoing royalties."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":237016,"accession_number":"0000886163-24-000047","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-06-18T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Ligand reports Merck vaccine FDA approval milestone and Takeda soticlestat Phase 3 miss","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["FDA approved Merck's CAPVAXIVE; Ligand earns $2M milestone + royalties on net sales.","Takeda's soticlestat missed primary endpoints in Dravet (SKYLINE) and Lennox-Gastaut (SKYWAY) Phase 3 trials.","Ligand owns 13% royalty on soticlestat from $30M Ovid deal; clinical miss reduces royalty value.","SKYLINE narrowly missed seizure reduction primary; showed significant secondary endpoint effects.","SKYWAY missed primary endpoint of reduction in major motor drop seizures."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":237015,"accession_number":"0000886163-24-000045","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-06-17T23:59:59+00:00","items":["5.02","5.07"],"status":"ready","headline":"Shareholders approve 9.7M share stock plan amendment, re-elect all eight directors","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["All eight director nominees re-elected to one-year terms; votes for ranged from 12.3M to 15.3M.","Ratification of Ernst & Young as independent auditor for FY2024 approved (15.9M for, 0.8M against).","Non-binding advisory say-on-pay resolution approved with 14.3M votes for.","Restated 2002 Stock Incentive Plan approved, authorizing up to 9,713,754 common shares.","Company will cease granting awards under the 2022 Employment Inducement Plan after meeting date."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.35,"calibrated_materiality_score":0.35,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":237014,"accession_number":"0000886163-24-000039","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-05-30T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Ligand completes $75M purchase of Agenus royalty rights","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Completed purchase of royalty rights from Agenus Inc. for $75M on May 29, 2024.","Transaction previously announced on May 7, 2024; customary closing conditions satisfied.","No other terms or financial impact disclosed beyond the purchase price."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":237013,"accession_number":"0000886163-24-000029","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-05-07T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand reports Q1 revenue $31M; net income $86.1M on Viking gain; reaffirms guidance; $100M Agenus royalty deal","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q1 total revenue $31.0M vs $44.0M last year; royalties up $19.1M from $17.6M.","Net income $86.1M ($4.75 diluted) vs $43.6M, includes $60M realized gain on Viking stock.","Core adjusted EPS $1.20 vs $1.33; decrease due to prior-year $15.3M Travere milestone.","Reaffirms 2024 guidance: total revenue $130-142M, core adjusted EPS $4.25-4.75.","Entered $100M royalty financing with Agenus for six partnered oncology programs; $75M upfront."],"consensus_eps_estimate":null,"consensus_eps_actual":4.75,"consensus_revenue_estimate":null,"consensus_revenue_actual":30978000.0,"consensus_period":"2024-Q1","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":237012,"accession_number":"0000886163-24-000026","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-05-07T23:59:59+00:00","items":["1.01"],"status":"ready","headline":"Ligand acquires royalty rights on six partnered oncology programs and BOT/BAL from Agenus for $75M","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Purchase price of $75M for 18.75% of licensed royalties and 31.875% of milestones on six partnered oncology programs (BMS, Gilead, Incyte, Merck, UroGen).","Plus synthetic 2.625% royalty on future global net sales of Agenus' botensilimab/balstilimab (BOT/BAL) program.","Ligand has option to commit additional $25M on pro rata basis; Sellers may raise up to $125M more total.","Agenus issued Ligand warrant to purchase 867,052 shares of AGEN common stock at $17.30, exercisable until May 2029.","Transaction expected to close in May 2024 subject to customary conditions."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":237011,"accession_number":"0000886163-24-000013","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-04-19T23:59:59+00:00","items":["5.03","9.01"],"status":"ready","headline":"Ligand adopts amended bylaws for universal proxy rules and DGCL updates","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Board approved Fifth Amended and Restated Bylaws on April 17, 2024.","Updates include requirements for stockholder nominations under Rule 14a-19 (universal proxy).","Clarifies broker non-votes have no effect; abstentions count as votes against.","Revisions reflect changes to Delaware General Corporation Law on electronic notices and stockholder lists.","Also makes conforming changes to stockholder proposal and nomination procedures."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":254599,"accession_number":"0000886163-24-000005","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-02-27T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q4 net income $18.2M ($1.03 diluted); reaffirms 2024 guidance","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 total revenue $28.1M (down from $50.4M in Q4 2022, which included $23.5M COVID Captisol sales); core adjusted EPS $1.05 vs $0.75.","Full-year 2023 royalties $83.9M (+16% YoY); core adjusted net income $71.7M ($4.06/diluted) vs $41.9M ($2.44).","2024 guidance reaffirmed: total revenue $130-142M, adjusted EPS $4.25-4.75.","FDA approved ZELSUVMI (berdazimer gel) for molluscum contagiosum; Merck's V116 vaccine granted priority review (PDUFA June 17, 2024).","Travere's FILSPARI sNDA for IgAN planned Q1 2024; FSGS data insufficient; Aldeyra received CRL for reproxalap."],"consensus_eps_estimate":null,"consensus_eps_actual":2.94,"consensus_revenue_estimate":null,"consensus_revenue_actual":131314000.0,"consensus_period":"2023-FY","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":254598,"accession_number":"0000886163-24-000002","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2024-01-08T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"FDA approves Ligand's ZELSUVMI for molluscum contagiosum in adults and children 1+","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["FDA approved ZELSUVMI (berdazimer topical gel, 10.3%) for molluscum contagiosum in patients 1 year and older.","First novel drug for molluscum and first topical prescription that can be applied at home.","Approximately 6 million Americans infected annually; up to 73% of children go untreated.","Product expected to be available in the U.S. in the second half of 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":272075,"accession_number":"0000886163-23-000092","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2023-12-01T23:59:59+00:00","items":["1.01"],"status":"ready","headline":"Ligand expands Palvella partnership for QTORIN rapamycin; $5M upfront, higher royalty","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Ligand pays $5M upfront; royalty on QTORIN rapamycin raised to 8.0%-9.8% of net sales.","Palvella's right to reduce royalties eliminated; Ligand gets security interest in royalties and patents.","Ligand receives option to acquire a single-digit royalty on US sales of any novel QTORIN platform product.","QTORIN rapamycin Phase 2: 100% of patients (n=12) 'Much/Very Much Improved'; FDA Breakthrough Therapy Nov 2023.","Phase 3 pivotal trial planned in ~50 patients for Microcystic LMs (no approved treatments, >30,000 US patients)."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":272071,"accession_number":"0000886163-23-000089","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K/A","filed_at":"2023-11-13T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q3 adj EPS $1.02 beats, raises 2023 guidance; restates prior net loss per share to ($0.59)","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q3 total revenue $32.9M (down from $59.2M YoY, no COVID-19 sales); adjusted EPS $1.02 vs $0.60 YoY.","Raised 2023 revenue guidance to $126-129M (from $124-126M) and adjusted EPS to $5.25-5.40 (from $5.10-5.25).","8-K/A correction: $3.2M derivative asset from Pelican divestiture changed sale from ($1.1M) loss to $2.1M gain; net loss per share improved to ($0.59) from ($0.74).","Invested >$75M in Q3/Q4 in Tolerance, Ovid, Novan, Primrose; acquired 13% royalty interest in soticlestat (up to $86M milestones).","Cash and short-term investments $190.5M at Sep 30, 2023; new $75M revolving credit facility with Citibank."],"consensus_eps_estimate":null,"consensus_eps_actual":1.91,"consensus_revenue_estimate":null,"consensus_revenue_actual":103213000.0,"consensus_period":"2023-Q3","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":272074,"accession_number":"0000886163-23-000083","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2023-11-08T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q3 adjusted EPS $1.02, revenue $32.9M; raises 2023 guidance; invests $75M+","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q3 total revenue $32.9M; ex-COVID revenue $26.9M vs $26.9M prior year. Net loss $0.74 GAAP per share.","Adjusted net income $18.0M ($1.02 diluted EPS) vs $10.5M ($0.60) YoY; 2023 adjusted EPS guidance raised to $5.25-$5.40.","Royalties $23.9M (+24% YoY) led by Kyprolis, Rylaze, Vaxneuvance, Filspari. Core Captisol $8.6M vs $3.6M.","Invested over $75M in Q3/early Q4: $30M in Ovid soticlestat royalty, $20M for Tolerance/TZIELD royalty, $12.2M Novan purchase, $15M Primrose Bio.","New $75M revolving credit facility with Citibank; cash & investments $190.5M at Sept 30. Revenue guidance raised to $126-$129M."],"consensus_eps_estimate":null,"consensus_eps_actual":1.91,"consensus_revenue_estimate":null,"consensus_revenue_actual":103213000.0,"consensus_period":"2023-Q3","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":272073,"accession_number":"0000886163-23-000078","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2023-10-18T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Ligand acquires 13% interest in soticlestat royalties and milestones from Ovid for $30M","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Ligand will pay Ovid $30M for a 13% interest in all royalties and milestones owed to Ovid on soticlestat.","Soticlestat is in Phase 3 trials for Lennox-Gastaut and Dravet syndromes; Takeda expects regulatory filing in FY2024 (Apr 2024-Mar 2025).","Ovid eligible for up to $660M in milestones plus tiered royalties (low double-digits to 20%) on global sales if approved.","Takeda bears all development costs; Ovid has no ongoing obligations or costs."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":272072,"accession_number":"0000886163-23-000075","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2023-10-18T23:59:59+00:00","items":["1.01","2.01","9.01"],"status":"ready","headline":"Ligand Pharmaceuticals enters $75M revolving credit facility with Citibank","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["$75M revolving credit facility with Citibank as administrative agent; currently undrawn.","Matures October 12, 2026; subject to leverage ratio covenant (max 2.50:1; 3.00:1 after acquisitions) and minimum EBITDA of $45M.","Interest rates based on SOFR plus 1.75%-2.50% or base rate plus 0.75%-1.50%, depending on leverage.","Facility secured by certain collateral and guaranteed by material domestic subsidiaries.","Proceeds for working capital and general corporate purposes; no outstanding balance as of filing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":288916,"accession_number":"0000886163-23-000071","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2023-09-27T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Ligand appoints Martine Zimmermann to board of directors","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Zimmermann appointed on Sept 22, 2023; serves as independent director.","SVP and Head of Regulatory Affairs and R&D Quality at Ipsen Biopharmaceuticals since Jan 2023.","Granted RSUs (2,285 shares) and options (11,345 shares at $59.08 strike), vesting over 3 years.","Also receives cash compensation per company's director compensation policy.","Board determined Zimmermann independent under Nasdaq rules; no material transactions with company."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":288915,"accession_number":"0000886163-23-000053","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2023-09-18T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Ligand merges Pelican unit into Primrose Bio, retains 49.9% stake and milestone rights","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Subsidiary Pelican Technology merged into Primrose Bio; Ligand owns 49.9% of the combined company.","Ligand retains all existing Pelican Expression Technology royalties (RYLAZE, VAXNEUVANCE, V116, Teriparatide, Pneumosil, MenFive).","Ligand contributed $15M for rights to 50% of development milestones from two prior Primordial Genetics contracts.","Starting 2025, Ligand receives 25% of PeliCRM197 sales revenue above $3M and 35% of PeliCRM197 licensing revenue.","Combined platform pairs Pelican Expression Technology with Primordial Genetics' Function Generator for synthetic biology."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":288914,"accession_number":"0000886163-23-000047","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2023-08-08T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q2 adjusted EPS $1.42 beats; raises FY2023 adjusted EPS outlook to $4.85-$5.00","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q2 adjusted net income from continuing ops $25.1M ($1.42 diluted) vs $7.4M ($0.43) prior year; GAAP EPS $0.13.","Royalties grew 15% to $20.4M; core Captisol sales $5.2M vs $3.3M. No COVID-19 Captisol sales vs $26.2M.","Cash $219M; debt-free after May 2023 convertible note payoff. $50M share repurchase program authorized.","FY2023 guidance: revenue $124-128M (reaffirmed); adjusted EPS raised to $4.85-$5.00 from $4.60-$4.75.","Agreed to purchase Novan assets for $15M cash plus DIP financing; Berdazimer gel NDA PDUFA Jan 5, 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":2.48,"consensus_revenue_estimate":null,"consensus_revenue_actual":70345000.0,"consensus_period":"2023-Q2","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":309619,"accession_number":"0000886163-23-000030","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2023-06-09T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Ligand annual meeting elects 7 directors, ratifies auditor, approves say-on-pay","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["All seven director nominees elected; Jason M. Aryeh received 7,967,581 for vs 6,131,999 withheld.","Ratification of Ernst & Young as auditor passed with 15,512,124 for, 347,261 against.","Non-binding advisory vote on executive compensation approved: 12,379,762 for, 1,698,528 against.","Stockholders chose every-year frequency for say-on-pay votes (13,490,718 for 1 year)."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.15,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":309618,"accession_number":"0000886163-23-000024","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2023-05-04T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q1 revenue $44M beats prior year; raises FY2023 EPS guidance to $4.60-$4.75","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenue $44.0M, up 21% from $36.5M in Q1 2022; net income $43.6M vs loss $12.9M.","Raised FY2023 guidance: royalties $78-82M (prev $74-78M); diluted EPS $4.60-4.75 (prev $3.30-3.45).","Royalty revenue $17.2M (+28% YoY) driven by Kyprolis and Pelican platform; core Captisol sales $10.6M (+71%).","Sold 3.2M shares of Viking Therapeutics for $43M net proceeds; holds 3.6M VKTX shares as of Mar 31, 2023.","Travere's FILSPARI approved for IgA nephropathy in Feb; Phase 3 FSGS study missed primary endpoint."],"consensus_eps_estimate":null,"consensus_eps_actual":2.33,"consensus_revenue_estimate":null,"consensus_revenue_actual":43979000.0,"consensus_period":"2023-Q1","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":328335,"accession_number":"0000886163-23-000009","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2023-03-13T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Ligand says it holds no SVB deposits, expects no material impact from SVB failure","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["SVB closed by CA regulator on March 10, 2023; FDIC appointed receiver.","Ligand has no deposits, securities, or accounts at SVB.","Ligand does not expect any material adverse effect on its business or results from partner exposure."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":328334,"accession_number":"0000886163-23-000004","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2023-02-22T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Ligand Q4 revenue $50.4M, net loss $14.5M; raises 2023 guidance on royalties and EPS","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 total revenues $50.4M (down 11% YoY); royalties $22.0M (up 25% YoY); net loss from continuing ops $14.5M ($0.86 per share).","Full year 2022 total revenues $196.2M (down 19% YoY); adjusted net income $82.2M ($4.79 per diluted share) vs $108.0M ($6.27) in 2021.","2023 guidance raised: royalties $74-78M (prev $72-76M), total revenue $120-124M, adjusted diluted EPS $3.30-3.45 (prev $3.10-3.30).","Travere's FILSPARI received FDA accelerated approval for IgA nephropathy; Verona positive Phase 3 for ensifentrine in COPD.","OmniAb spin-out completed Nov 1, 2022; cash and investments $211.9M at year-end."],"consensus_eps_estimate":null,"consensus_eps_actual":-1.98,"consensus_revenue_estimate":null,"consensus_revenue_actual":196245000.0,"consensus_period":"2022-FY","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":345994,"accession_number":"0000886163-22-000140","cik":886163,"company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGND","form_type":"8-K","filed_at":"2022-12-14T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Ligand increases base salary and target bonus for President/COO and CFO","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Matthew Korenberg (President & COO) base salary set at $540,000 with 50% target bonus.","Octavio Espinoza (CFO) base salary set at $400,000 with 40% target bonus.","Changes effective December 5, 2022, tied to recent promotions to these roles."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.35,"calibrated_materiality_score":0.35,"market_cap_usd":4727486010.471422,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null}],"next_cursor":"2022-12-14T23:59:59+00:00|345994"}