{"schema_version":"secwatch.filing_event.v1","accession":"0000886163-26-000027","form_type":"8-K","ticker":"LGND","cik":"0000886163","company_name":"LIGAND PHARMACEUTICALS INC","filed_at":"2026-04-30T23:59:59+00:00","discovered_at":"2026-05-14T18:02:33.873167+00:00","generated_at":"2026-05-15T01:25:42.471895+00:00","sec_items":["1.02"],"event_type":"other_material","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Ligand terminates TR-Beta license with Viking over alleged material breach; Viking disputes","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."],"urls":{"canonical":"https://secwatch.observer/filing/0000886163-26-000027","json":"https://secwatch.observer/filing/0000886163-26-000027.json","markdown":"https://secwatch.observer/filing/0000886163-26-000027.md","text":"https://secwatch.observer/filing/0000886163-26-000027.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000027/0000886163-26-000027-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000027/lgnd-20260424.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T01:25:42.471895+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":[{"claim_id":"8e5f93fc994c58b44fe13b61d08e7fd8e5dd727d","claim":"LIGAND PHARMACEUTICALS INC terminated Master License Agreement with Viking Therapeutics, Inc. (effective 2026-04-24).","evidence_excerpt":"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”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000027/0000886163-26-000027-index.htm","confidence":0.9}],"comparable_filings":[{"accession":"0001379785-26-000024","ticker":"BBDC","company_name":"Barings BDC, Inc.","filed_at":"2026-06-01T20:15:45+00:00","headline":"Barings BDC receives $67M cash from adviser, enters new $11M credit support for Sierra legacy investments","event_type":"other_material","sec_items":["1.01","1.02","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: material_agreement","same SEC item: 1.02","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001379785-26-000024","json":"https://secwatch.observer/filing/0001379785-26-000024.json","markdown":"https://secwatch.observer/filing/0001379785-26-000024.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1379785/000137978526000024/0001379785-26-000024-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1379785/000137978526000024/bbdc-20260529.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"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”).","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000027/0000886163-26-000027-index.htm","comparable_excerpt":"Barings BDC, Inc. (the “Company”) and Barings LLC (the “Adviser”) entered into a new Credit Support Agreement (the “New CSA”). The New CSA provides similar credit support as previously provided under the Prior CSA for the remaining unrealized investments in two portfolio companies previously covered by the Prior CSA in an amount equal to the $10,994,928 fair value of such investments as of May 29, 2026 (the “Remaining Obligation”).","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1379785/000137978526000024/0001379785-26-000024-index.htm"}},{"accession":"0001213900-26-054200","ticker":"SERV","company_name":"Serve Robotics Inc. /DE/","filed_at":"2026-05-11T23:59:59+00:00","headline":"Serve Robotics ends $150M ATM sales agreement, reports pro forma Q1 net loss of $51M from Diligent acquisition","event_type":"other_material","sec_items":["1.02","8.01","9.01"],"materiality_score":0.6,"calibrated_materiality_score":0.6,"match_reasons":["same fact type: material_agreement","same SEC item: 1.02","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-054200","json":"https://secwatch.observer/filing/0001213900-26-054200.json","markdown":"https://secwatch.observer/filing/0001213900-26-054200.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1832483/000121390026054200/0001213900-26-054200-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1832483/000121390026054200/ea028960901-8k_serve.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"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”).","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000027/0000886163-26-000027-index.htm","comparable_excerpt":"On May 7, 2026, Serve Robotics Inc. (the “Company”) and each of Cantor Fitzgerald & Co., Wedbush Securities Inc., Northland Securities, Inc., Ladenburg Thalmann & Co. Inc. and Seaport Global Securities LLC (collectively, the “Agents”) agreed to terminate the Controlled Equity Offering SM Agreement, dated as of March 6, 2025 (the “Prior Sales Agreement”).","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1832483/000121390026054200/0001213900-26-054200-index.htm"}},{"accession":"0001140361-26-019761","ticker":"BBIO","company_name":"BridgeBio Pharma, Inc.","filed_at":"2026-05-08T23:59:59+00:00","headline":"BridgeBio Pharma establishes $500M at-the-market equity offering program","event_type":"other_material","sec_items":["1.01","1.02","9.01"],"materiality_score":0.6,"calibrated_materiality_score":0.6,"match_reasons":["same fact type: material_agreement","same SEC item: 1.02","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-26-019761","json":"https://secwatch.observer/filing/0001140361-26-019761.json","markdown":"https://secwatch.observer/filing/0001140361-26-019761.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1743881/000114036126019761/0001140361-26-019761-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1743881/000114036126019761/ny20072667x2_8k.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"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”).","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000027/0000886163-26-000027-index.htm","comparable_excerpt":"On May 7, 2026, in connection with entering into the Agreement, the Company agreed with Goldman Sachs and Leerink Partners (formerly known as SVB Securities LLC), to terminate that certain Equity Distribution Agreement, dated May 4, 2023, by and among the Company, Goldman Sachs and Leerink Partners, effective as of May 7, 2026.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1743881/000114036126019761/0001140361-26-019761-index.htm"}},{"accession":"0001740797-26-000011","ticker":"AVAI","company_name":"AVAI BIO, INC.","filed_at":"2026-05-08T23:59:59+00:00","headline":"AVAI Bio and Ainnova Tech mutually terminate JV agreement as of May 7, 2026","event_type":"other_material","sec_items":["1.02","9.01"],"materiality_score":0.6,"calibrated_materiality_score":0.6,"match_reasons":["same fact type: material_agreement","same SEC item: 1.02","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001740797-26-000011","json":"https://secwatch.observer/filing/0001740797-26-000011.json","markdown":"https://secwatch.observer/filing/0001740797-26-000011.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1740797/000174079726000011/0001740797-26-000011-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1740797/000174079726000011/avai_8kmay82026.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"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”).","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000027/0000886163-26-000027-index.htm","comparable_excerpt":"On May 7, 2026, Avai Bio, Inc., formerly known as Avant Technologies Inc. (the “Company” or “AVAI”), and Ainnova Tech Inc. (“Ainnova” or “AINN”) entered into a Mutual Termination Agreement (the “Termination Agreement”) to terminate, by mutual consent, the Joint Venture and License Agreement dated November 8, 2024 (effective as of November 11, 2024) (the “License Agreement”).","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1740797/000174079726000011/0001740797-26-000011-index.htm"}},{"accession":"0001477932-26-002841","ticker":"BTBD","company_name":"BT Brands, Inc.","filed_at":"2026-05-07T23:59:59+00:00","headline":"BT Brands terminates Aero Velocity merger; registration statement not declared effective by April 30, 2026","event_type":"other_material","sec_items":["1.02","8.01","7.01","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: material_agreement","same SEC item: 1.02","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001477932-26-002841","json":"https://secwatch.observer/filing/0001477932-26-002841.json","markdown":"https://secwatch.observer/filing/0001477932-26-002841.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1718224/000147793226002841/0001477932-26-002841-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1718224/000147793226002841/btbd_8k.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"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”).","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000027/0000886163-26-000027-index.htm","comparable_excerpt":"On May 1, 2026, the Company delivered written notice to Aero terminating the Merger Agreement pursuant to Section 7.1(b) thereof.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1718224/000147793226002841/0001477932-26-002841-index.htm"}},{"accession":"0001493152-26-021753","ticker":"HWH","company_name":"HWH International Inc.","filed_at":"2026-05-07T23:59:59+00:00","headline":"HWH enters $10M PIPE with warrants at $0.50/share; terminates Hapi Metaverse acquisition","event_type":"other_material","sec_items":["1.01","1.02","5.02","9.01"],"materiality_score":0.8,"calibrated_materiality_score":0.8,"match_reasons":["same fact type: material_agreement","same SEC item: 1.02","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-021753","json":"https://secwatch.observer/filing/0001493152-26-021753.json","markdown":"https://secwatch.observer/filing/0001493152-26-021753.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1897245/000149315226021753/0001493152-26-021753-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1897245/000149315226021753/form8-k.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"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”).","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000027/0000886163-26-000027-index.htm","comparable_excerpt":"On May 5, 2026, HWH International Inc., a Nevada corporation (the “Company”) entered into a term sheet (the “Term Sheet”) with Smart Dynamics Technology Limited, a company incorporated in the British Virgin Islands (the “Investor”), pursuant to which the Company has agreed to sell to the Investor, for an aggregate purchase price of $10,000,000","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1897245/000149315226021753/0001493152-26-021753-index.htm"}},{"accession":"0001193125-26-197481","ticker":"STRT","company_name":"STRATTEC SECURITY CORP","filed_at":"2026-04-30T23:59:59+00:00","headline":"Strattec's JV replacement credit agreement releases company from guaranty obligations","event_type":"other_material","sec_items":["1.02"],"materiality_score":0.55,"calibrated_materiality_score":0.55,"match_reasons":["same fact type: material_agreement","same SEC item: 1.02","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-197481","json":"https://secwatch.observer/filing/0001193125-26-197481.json","markdown":"https://secwatch.observer/filing/0001193125-26-197481.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/933034/000119312526197481/0001193125-26-197481-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/933034/000119312526197481/strt-20260430.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"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”).","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000027/0000886163-26-000027-index.htm","comparable_excerpt":"Effective as of April 30, 2026, ADAC-STRATTEC, LLC (“ADAC-STRATTEC”), a majority owned joint venture subsidiary of Strattec Security Corporation (the “Company”), entered into an Amended and Restated Credit Agreement with BMO Bank N.A. (the “New JV Credit Agreement”) that replaced ADAC-STRATTEC’s existing credit agreement, dated June 28, 2012, with BMO Bank N.A.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/933034/000119312526197481/0001193125-26-197481-index.htm"}},{"accession":"0001493152-26-019659","ticker":"PMHS","company_name":"Polomar Health Services, Inc.","filed_at":"2026-04-29T23:59:59+00:00","headline":"ForHumanity terminates exclusive marketing deal with Polomar; Polomar disputes claims","event_type":"other_material","sec_items":["1.02","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: material_agreement","same SEC item: 1.02","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-019659","json":"https://secwatch.observer/filing/0001493152-26-019659.json","markdown":"https://secwatch.observer/filing/0001493152-26-019659.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1265521/000149315226019659/0001493152-26-019659-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1265521/000149315226019659/form8-k.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"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”).","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616326000027/0000886163-26-000027-index.htm","comparable_excerpt":"On April 23, 2026, the Company received a written notice (the “Notice”) that ForHumanity intends to terminate and rescind the ForHumanity Agreement, among other matters.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1265521/000149315226019659/0001493152-26-019659-index.htm"}}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}