LIGAND PHARMACEUTICALS INC — fact timeline

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.

“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”

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

“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”).”

LIGAND PHARMACEUTICALS INC entered into Agreement and Plan of Merger with XOMA Royalty Corporation (effective 2026-04-27).

“On April 27, 2026, Ligand Pharmaceuticals Incorporated, a Delaware corporation (“ Ligand ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”), by and among Ligand, XOMA Royalty Corporation, a Nevada corporation (“ XOMA Royalty ”), and Flex Merger Sub, Inc., a Nevada corporation and wholly-owned subsidiary of Ligand (“ Merger Sub ”)”

LIGAND PHARMACEUTICALS INC amended credit facility with Citibank, N.A. maturing September 12, 2028.

“to, among other things, extend the maturity date to September 12, 2028 and modify the minimum consolidated EBITDA”

LIGAND PHARMACEUTICALS INC incurred convertible notes of $460,000,000 with U.S. Bank Trust Company, National Association at 0.75% per year maturing October 1, 2030.

“On August 14, 2025, Ligand Pharmaceuticals Incorporated (the “ Company ”) completed its previously announced private offering of $460.0 million aggregate principal amount of 0.75% Convertible Senior Notes due 2030 (the “ Notes ”), including the exercise in full of the initial purchasers’ option to purchase up to an additional $60.0 million aggregate principal amount of Notes. The Notes were issued pursuant to an indenture, dated August 14, 2025 (the “ Indenture ”), between the Company and U.S. Bank Trust Company, National Association, as trustee.”

Matthew Korenberg departed as President and Chief Operating Officer at LIGAND PHARMACEUTICALS INC.

“On August 2, 2024, Ligand Pharmaceuticals Incorporated (the “Company”) announced that its President and Chief Operating Officer, Matthew Korenberg, will be departing from the Company.”

LIGAND PHARMACEUTICALS INC reported 2024 results: revenue $130 million to $142 million, EPS approximately $4.25 to $4.75. Guidance reaffirmed.

“Ligand is reaffirming its 2024 financial guidance. The Company expects 2024 royalties ranging from $90 million to $95 million, sales of Captisol to range from $25 million to $27 million, and contract revenue ranging from $15 million to $20 million. These revenue components result in total revenue forecast of $130 million to $142 million. Ligand notes that with total revenue of $130 million to $142 million, core adjusted earnings per diluted share are expected to range from approximately $4.25 to $4.75.”

LIGAND PHARMACEUTICALS INC reported the three months ended March 31, 2024 results: revenue $31.0 million, net income $86.1 million, EPS $4.75 per diluted share.

“Total revenues and other income for the first quarter of 2024 were $31.0 million, compared with $44.0 million for the same period in 2023. Royalties for the first quarter of 2024 were $19.1 million, compared with $17.6 million for the same period in 2023, with the increase primarily attributable to Amgen’s (Nasdaq: AMGN) Kyprolis, Jazz Pharmaceuticals' (Nasdaq: JAZZ) RYLAZE, Merck and Co.’s (NYSE: MRK) VAXNEUVANCE and Travere Therapeutics’ (Nasdaq: TVTX) FILSPARI, partially offset by a decline in CASI’s (Nasdaq: CASI) EVOMELA. Captisol sales were $9.2 million for the first quarter of 2024, compared with $10.6 million for the same period in 2023, with the change due to the timing of customer orders. Contract revenue and other income was $2.7 million for the first quarter of 2024, compared with $15.7 million for the same period in 2023, with the difference driven by a $15.3 million milestone payment earned from Travere Therapeutics upon the FDA approval of FILSPARI in the prior year quar”

LIGAND PHARMACEUTICALS INC entered into Purchase and Sale Agreement, dated May 6, 2024 (the "Agreement") with Agenus Inc., Agenus Royalty Fund, LLC, and Agenus Holdings 2024, LLC (collectively, "Sellers") valued at $75 million (effective 2024-05-06).

“On May 6, 2024, Ligand Pharmaceuticals Incorporated (“Ligand”) entered into that certain Purchase and Sale Agreement, dated May 6, 2024 (the “Agreement”), with Agenus Inc., Agenus Royalty Fund, LLC, and Agenus Holdings 2024, LLC (collectively, “Sellers”), where Ligand will obtain certain royalty rights for an aggregate purchase price of $75 million.”

LIGAND PHARMACEUTICALS INC: Adopted Fifth Amended and Restated Bylaws with updates for universal proxy rules, DGCL amendments, and other revisions (effective 2024-04-17).

“On April 17, 2024, the Board of Directors (the “Board”) of Ligand Pharmaceuticals Incorporated (the “Company”), in connection with the Securities and Exchange Commission’s revisions to the Securities Exchange Act of 1934, as amended (the "Exchange Act") regarding universal proxy cards, changes to the Delaware General Corporation Law (the "DGCL"), and a periodic review of corporate governance matters, approved the amendment and restatement of the Company’s Fourth Amended and Restated Bylaws, as amended (the “Fifth Amended and Restated Bylaws”).”

LIGAND PHARMACEUTICALS INC reported financial results for the three and twelve months ended December 31, 2023.

“On February 27, 2024, Ligand Pharmaceuticals Incorporated (the “Company”) issued a press release announcing its financial results for the three and twelve months ended December 31, 2023.”