secwatch.observer — SEC 8-K summary
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Issuer:     LIGAND PHARMACEUTICALS INC (LGND)
CIK:        0000886163
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0000886163-22-000133
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ligand Q3 revenue $66.1M (+2% YoY); raises 2022 guidance; completes OmniAb spin-off
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- Q3 GAAP net income $0.4M ($0.02 EPS) vs $13.7M ($0.80) YoY; adjusted EPS $1.31 vs $1.58.
- Q3 royalty revenue up 27% to $19.8M on Kyprolis, Rylaze, Teriparatide; total revenue $66.1M.
- 2022 guidance raised: total revenue $184-189M (prior $133-146M); adjusted EPS $4.30-$4.45.
- Completed tax-free spin-off of OmniAb on Nov 1; OmniAb began trading as OABI on Nov 2.
- Repurchased $38.6M principal of 2023 Notes for $37.7M; cash & investments $121.4M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/886163/000088616322000133/0000886163-22-000133-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/886163/000088616322000133/lgnd-20221107.htm
  HTML page:      https://secwatch.observer/filing/0000886163-22-000133

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer