Ligand Q1 royalty revenue +56% to $43M; reaffirms raised guidance amid XOMA acquisition

LIGAND PHARMACEUTICALS INC

2026-Q1 EPS reported -$0.67 revenue$51,722,000

Q1 royalty revenue $43.0M (+56% YoY); total revenue $51.7M (+14%).
GAAP net loss $13.3M ($0.67/sh) vs loss $42.5M ($2.21/sh) prior yr; adj EPS $1.63 (+23%).
Reaffirms FY2026 guidance: royalty rev $225-250M, total rev $270-310M, adj EPS $8.50-9.50.
Acquiring XOMA for $39/share in cash + CVR; adds over 120 assets incl. Vabysmo, Ojemda, Miplyffa.
Cash and investments $779.4M at Mar 31; deal expected to close Q3 2026.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

LIGAND PHARMACEUTICALS INC reported three months ended March 31, 2026 results: revenue $51.7 million, net income GAAP net loss was $13.3 million, or $0.67 per share, EPS $0.67 per share. Guidance reaffirmed.

Period: three months ended March 31, 2026
Revenue: $51.7 million
Net income: GAAP net loss was $13.3 million, or $0.67 per share
EPS: $0.67 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

results reflect continued strong momentum in the royalty business, with royalty revenue growing 56% year-over-year. Total revenues and income for the first quarter of 2026 were $51.7 million, compared with $45.3 million for the same period in 2025, with the 14% increase primarily driven by higher royalty revenue. Royalties for the first quarter of 2026 were $43.0

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Source: SEC EDGAR

accession 0000886163-26-000030

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