Ligand terminates TR-Beta license with Viking over alleged material breach; Viking disputes

LIGAND PHARMACEUTICALS INC

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.

item 1.02

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LIGAND PHARMACEUTICALS INC terminated Master License Agreement with Viking Therapeutics, Inc. (effective 2026-04-24).

Action: termination
Agreement: license
Counterparty: Viking Therapeutics, Inc.
Effective: 2026-04-24

Exact text from the filing

On April 24, 2026, Ligand Pharmaceuticals Incorporated (the “Company”) delivered written notice to Viking Therapeutics, Inc. (“Viking”) of termination of the TR-Beta Program (the “Termination Notice”) under that certain Master License Agreement, dated May 21, 2014, by and among the Company, Metabasis Therapeutics, Inc. and Viking, as amended by the First Amendment dated September 6, 2014, the Second Amendment dated April 8, 2015, and the Waiver, Consent and Third Amendment dated March 21, 2016 (the “License Agreement”).

View on SEC.gov

Browse all material agreements →

LIGAND PHARMACEUTICALS INC filing history →

Source: SEC EDGAR

accession 0000886163-26-000027

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.