---
schema_version: "secwatch.filing_event.v1"
accession: "0000886163-23-000004"
form_type: "8-K"
ticker: "LGND"
cik: "0000886163"
company_name: "LIGAND PHARMACEUTICALS INC"
filed_at: "2023-02-22T23:59:59+00:00"
generated_at: "2026-06-19T06:02:12.648833+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Ligand Q4 revenue $50.4M, net loss $14.5M; raises 2023 guidance on royalties and EPS

## Summary
- 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.

## SEC filing metadata
- accession: 0000886163-23-000004
- form_type: 8-K
- ticker: LGND
- cik: 0000886163
- company_name: LIGAND PHARMACEUTICALS INC
- filed_at: 2023-02-22T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/886163/000088616323000004/0000886163-23-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/886163/000088616323000004/lgnd-20230222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000886163-23-000004
- JSON: https://secwatch.observer/filing/0000886163-23-000004.json
- Plain text: https://secwatch.observer/filing/0000886163-23-000004.txt

## Key facts
- Earnings Releases
  LIGAND PHARMACEUTICALS INC reported the fourth quarter of 2022 results: revenue $50.4 million, net income $14.5 million net loss, EPS $0.86 per share. Guidance raised.
  - Period: the fourth quarter of 2022
  - Revenue: $50.4 million
  - Net income: $14.5 million net loss
  - EPS: $0.86 per share
  - Guidance: raised
  - Result: reported results
  source text: Total revenues for the fourth quarter of 2022 were $50.4 million, compared with $56.4 million for the same period in 2021. Royalties for the fourth quarter of 2022 were $22.0 million, compared with $17.6 million for the same period in 2021, with the increase primarily attributable to the growth in sales of drugs using the Pelican platform. Core Captisol sales were $3.3 million for the fourth quarter of 2022, compared with $7.1 million for the same period in 2021. The difference in sales was due to the timing of customer orders. Captisol sales related to COVID-19 were $23.5 million for the fourth quarter of 2022, compared with $28.3 million for the same period in 2021. Contract revenue was $1.5 million for the fourth quarter of 2022, compared with $3.5 million for the same period in 2021. The difference was due to the timing of partner milestone events. Cost of Captisol was $21.6 million for the fourth quarter of 2022, compared with $12.0 million for the same period in 2021, with the in
  evidence_url: https://www.sec.gov/Archives/edgar/data/886163/000088616323000004/0000886163-23-000004-index.htm
- Earnings Releases
  LIGAND PHARMACEUTICALS INC reported 2022 results: revenue $196.2 million, net income $5.2 million net loss, EPS $0.31 per share. Guidance raised.
  - Period: 2022
  - Revenue: $196.2 million
  - Net income: $5.2 million net loss
  - EPS: $0.31 per share
  - Guidance: raised
  - Result: reported results
  source text: Total revenues for 2022 were $196.2 million, compared with $241.5 million for 2021. Royalties for 2022 were $72.5 million, compared with $48.9 million for 2021, with the increase primarily attributable to the growth in sales of drugs using the Pelican platform. Core Captisol sales were $16.4 million for 2022, compared with $23.4 million for 2021. The difference in sales was due to the timing of customer orders. Captisol sales related to COVID-19 were $88.1 million for 2022, compared with $140.8 million for 2021. The lower sales are due to reduced demand for the pandemic-related treatment. Contract revenue for 2022 was $19.2 million, compared with $28.4 million for 2021, with the change due to the timing of partner milestone events. Cost of Captisol was $52.8 million for 2022, compared with $62.2 million for 2021, with the decrease due primarily to lower sales of Captisol, partially offset by $9.8 million in accelerated depreciation on Captisol manufacturing equipment during the year. A
  evidence_url: https://www.sec.gov/Archives/edgar/data/886163/000088616323000004/0000886163-23-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.