{"schema_version":"secwatch.filing_event.v1","accession":"0000886163-26-000003","form_type":"8-K","ticker":"LGND","cik":"0000886163","company_name":"LIGAND PHARMACEUTICALS INC","filed_at":"2026-02-26T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.923363+00:00","generated_at":"2026-05-15T23:59:13.463319+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.82,"calibrated_materiality_score":0.82,"confidence":"high","headline":"Ligand Q4 revenue $59.7M (+39% YoY), adjusted EPS $2.02 beats; FY25 core adj. EPS $8.13, +42%","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."],"urls":{"canonical":"https://secwatch.observer/filing/0000886163-26-000003","json":"https://secwatch.observer/filing/0000886163-26-000003.json","markdown":"https://secwatch.observer/filing/0000886163-26-000003.md","text":"https://secwatch.observer/filing/0000886163-26-000003.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000003/0000886163-26-000003-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000003/lgnd-20260226.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T23:59:13.463319+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}