Ligand completes acquisition of XOMA Royalty for $739M; portfolio exceeds 200 assets

LIGAND PHARMACEUTICALS INC

Total equity value ~$739M; XOMA Royalty stockholders received $39/share cash plus one CVR per share.
Adds seven commercial products including VABYSMO, OJEMDA, and MIPLYFFA, plus 14 late-stage programs.
Portfolio more than doubled to over 200 commercial, clinical, and preclinical royalty assets.
Transaction expected to add ~$0.50 to 2026 and ~$1.50 to 2027 adjusted EPS; accretive immediately.
New $125M revolving credit facility with maturity Sept 2028; covenants include min EBITDA of $100M-$150M.

item 1.01 item 2.01 item 2.03 item 7.01 item 9.01

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.