# Ligand Pharmaceuticals Inc (LGND)

> Cited company facts from SEC filings, by Steadybase. Web page: https://steadybase.io/company/ligand-pharmaceuticals-inc/ JSON: https://steadybase.io/company/ligand-pharmaceuticals-inc.json Checked Nov 10, 2026. Latest filing read: Oct 30, 2026.

## Company

- Legal name: LIGAND PHARMACEUTICALS INC
- Ticker: LGND, LGNDZ, LGNXZ, LGNYZ, LGNZZ (Nasdaq, OTC, OTC, OTC, OTC)
- SEC CIK: 0000886163
- Industry: Pharmaceutical Preparations (SIC 2834)
- Headquarters: San Diego, CA
- Fiscal year ends: December 31
- SEC filer category: Large accelerated filer
- Website: ligand.com
- LinkedIn: https://www.linkedin.com/company/ligand-pharmaceuticals
- Next earnings date: Jan 28, 2027 (estimated from past 8-K timing)

## Key facts

- Revenue: $268.1M for the fiscal year ended Dec 31, 2025 (10-K filed Feb 27, 2026). Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000006/0000886163-26-000006-index.html
- Operating income: $41.0M for the fiscal year ended Dec 31, 2025 (10-K filed Feb 27, 2026). Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000006/0000886163-26-000006-index.html
- Net income: $124.5M for the fiscal year ended Dec 31, 2025 (10-K filed Feb 27, 2026). Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000006/0000886163-26-000006-index.html
- SG&A: $92.4M for the fiscal year ended Dec 31, 2025 (10-K filed Feb 27, 2026). Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000006/0000886163-26-000006-index.html
- Employees: 47 as of Dec 31, 2025, as reported in an SEC filing. Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000006/lgnd-20251231.htm
- Shares outstanding: 20,002,986 as of Oct 27, 2026 (10-Q filed Oct 30, 2026). Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000060/0000886163-26-000060-index.html
- Auditor: Ernst & Young LLP, San Diego, California, named in the latest 10-K. Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000006/lgnd-20251231.htm

## Business

We are a biopharmaceutical royalty company focused on deploying capital and licensing technologies to acquire and create diversified royalty streams from high-value medicines. Our primary business is investing in and structuring royalty interests in mid- to late-stage development and commercial biopharmaceutical products, allowing us to generate long-duration, non-dilutive cash flows supported by a lean corporate cost structure. Capital deployment and technology licensing are the primary drivers of our long-term growth.

Source: Item 1. Business, https://www.sec.gov/Archives/edgar/data/886163/000088616326000006/lgnd-20251231.htm

## Annual results

| Fiscal year ended | Revenue | Operating income | Net income | SG&A |
|---|---|---|---|---|
| Dec 31, 2025 | $268.1M | $41.0M | $124.5M | $92.4M |
| Dec 31, 2024 | $167.1M | -$22.6M | -$4.0M | $78.7M |
| Dec 31, 2023 | $131.3M | $11.9M | $52.2M | $52.8M |
| Dec 31, 2022 | $196.2M | $3.0M | -$33.4M | $70.1M |
| Dec 31, 2021 | $241.5M | $103.9M | $57.1M | $46.8M |

Each figure comes from the annual report for that year. Filing links for every figure: https://steadybase.io/company/ligand-pharmaceuticals-inc.json

## Officers and directors

- Todd Davis, CEO of Ligand. Source: 8-K filed Oct 29, 2026, https://www.sec.gov/Archives/edgar/data/886163/000088616326000058/q32026earningsrelease_ex991.htm
- Todd C. Davis, Chief Executive Officer. LinkedIn: https://linkedin.com/in/toddcdavis2. Source: Form 4 filed Jul 6, 2026, https://www.sec.gov/Archives/edgar/data/886163/000200101126000106/0002001011-26-000106-index.htm
- Octavio Espinoza, Chief Financial Officer. LinkedIn: https://www.linkedin.com/in/tavo-espinoza-8030053. Source: Form 4 filed Aug 14, 2026, https://www.sec.gov/Archives/edgar/data/886163/000200101126000115/0002001011-26-000115-index.htm
- Andrew Reardon, CLO & Secretary. LinkedIn: https://linkedin.com/in/andrewtreardon. Source: Form 4 filed Sep 8, 2026, https://www.sec.gov/Archives/edgar/data/886163/000200101126000137/0002001011-26-000137-index.htm
- Jason Haas, Board member (per proxy). Source: DEF 14A filed Apr 21, 2026, https://www.sec.gov/Archives/edgar/data/886163/000088616326000021/lngd-20260421.htm
- John L. LaMattina, Ph.D., Board member (per proxy). Source: DEF 14A filed Apr 21, 2026, https://www.sec.gov/Archives/edgar/data/886163/000088616326000021/lngd-20260421.htm

## Recent 8-K events

- Oct 29, 2026: Item 2.02, Results of operations and financial condition (earnings release); Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000058/lgnd-20261029.htm
- Sep 24, 2026: Item 7.01, Regulation FD disclosure; Item 8.01, Other events. Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000054/lgnd-20260924.htm
- Sep 22, 2026: Item 7.01, Regulation FD disclosure; Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000050/lgnd-20260922.htm
- Aug 6, 2026: Item 2.02, Results of operations and financial condition (earnings release); Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000041/lgnd-20260806.htm
- Jul 14, 2026: Item 1.01, Entry into a material definitive agreement; Item 2.01, Completion of acquisition or disposition of assets; Item 2.03, Creation of a direct financial obligation; Item 7.01, Regulation FD disclosure; Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/886163/000119312526302660/d108457d8k.htm
- Jun 25, 2026: Item 1.01, Entry into a material definitive agreement; Item 2.03, Creation of a direct financial obligation; Item 3.02, Unregistered sales of equity securities; Item 8.01, Other events; Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/886163/000119312526282990/d167360d8k.htm
- Jun 22, 2026: Item 1.01, Entry into a material definitive agreement; Item 8.01, Other events; Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/886163/000119312526276694/d41408d8k.htm
- Jun 9, 2026: Item 5.02, Departure or appointment of directors or officers; compensation; Item 5.07, Submission of matters to a vote of security holders. Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000038/lgnd-20260605.htm
- May 18, 2026: Item 1.01, Entry into a material definitive agreement; Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/886163/000119312526228003/d86489d8k.htm
- May 7, 2026: Item 2.02, Results of operations and financial condition (earnings release); Item 9.01, Financial statements and exhibits. Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000030/lgnd-20260507.htm

## Insider trades (Form 4)

- Nov 4, 2026: Jason Aryeh (Director) sold 282 shares, about $90,237. Source: https://www.sec.gov/Archives/edgar/data/886163/000137696026000006/0001376960-26-000006-index.htm
- Nov 2, 2026: Andrew Reardon (CLO & Secretary) sold 5,000 shares, about $1.6M. Source: https://www.sec.gov/Archives/edgar/data/886163/000195023226000006/0001950232-26-000006-index.htm
- Nov 2, 2026: Jason Aryeh (Director) sold 2,111 shares, about $676,158. Source: https://www.sec.gov/Archives/edgar/data/886163/000137696026000005/0001376960-26-000005-index.htm
- Oct 2, 2026: Andrew Reardon (CLO & Secretary) sold 5,000 shares, about $1.5M. Source: https://www.sec.gov/Archives/edgar/data/886163/000195023226000003/0001950232-26-000003-index.htm
- Sep 10, 2026: Martine Zimmermann (Director) sold 1,200 shares, about $342,000. Source: https://www.sec.gov/Archives/edgar/data/886163/000200101126000140/0002001011-26-000140-index.htm
- Sep 3, 2026: Andrew Reardon (CLO & Secretary) sold 5,000 shares, about $1.4M. Source: https://www.sec.gov/Archives/edgar/data/886163/000200101126000137/0002001011-26-000137-index.htm
- Aug 12, 2026: Octavio Espinoza (Chief Financial Officer) sold 31,641 shares, about $9.2M. Source: https://www.sec.gov/Archives/edgar/data/886163/000200101126000115/0002001011-26-000115-index.htm
- Aug 12, 2026: Jason Haas (Director) sold 7,138 shares, about $2.1M. Source: https://www.sec.gov/Archives/edgar/data/886163/000200101126000114/0002001011-26-000114-index.htm
- Aug 3, 2026: Andrew Reardon (CLO & Secretary) sold 5,000 shares, about $1.4M. Source: https://www.sec.gov/Archives/edgar/data/886163/000200101126000111/0002001011-26-000111-index.htm
- Jul 1, 2026: Andrew Reardon (CLO & Secretary) sold 5,000 shares, about $1.6M. Source: https://www.sec.gov/Archives/edgar/data/886163/000200101126000108/0002001011-26-000108-index.htm
- Jun 16, 2026: Stephen L. Sabba (Director) sold 2,145 shares, about $544,830. Source: https://www.sec.gov/Archives/edgar/data/886163/000110465926075456/0001104659-26-075456-index.htm
- Jun 12, 2026: Jason Haas (Director) sold 6,461 shares, about $1.7M. Source: https://www.sec.gov/Archives/edgar/data/886163/000200101126000104/0002001011-26-000104-index.htm
- Jun 11, 2026: Jason Aryeh (Director) sold 5,000 shares, about $1.3M. Source: https://www.sec.gov/Archives/edgar/data/886163/000200101126000103/0002001011-26-000103-index.htm
- Jun 10, 2026: John L. Lamattina (Director) sold 4,591 shares, about $1.2M. Source: https://www.sec.gov/Archives/edgar/data/886163/000200101126000102/0002001011-26-000102-index.htm
- Jun 1, 2026: Andrew Reardon (CLO & Secretary) sold 5,000 shares, about $1.1M. Source: https://www.sec.gov/Archives/edgar/data/886163/000200101126000083/0002001011-26-000083-index.htm

## What management said

- "Ligand delivered another strong quarter, with royalty revenue growing 51% year-over-year, driven by contribution from the XOMA portfolio and continued commercial momentum across our key royalty assets, including Filspari" Todd Davis, CEO of Ligand (8-K filed Oct 29, 2026). Source: https://www.sec.gov/Archives/edgar/data/886163/000088616326000058/q32026earningsrelease_ex991.htm

## Latest filings

- 8-K filed Oct 29, 2026: https://www.sec.gov/Archives/edgar/data/886163/000088616326000058/lgnd-20261029.htm
- 10-K filed Feb 27, 2026: https://www.sec.gov/Archives/edgar/data/886163/000088616326000006/lgnd-20251231.htm
- 10-Q filed Oct 30, 2026: https://www.sec.gov/Archives/edgar/data/886163/000088616326000060/lgnd-20260930.htm
- DEF 14A filed Apr 21, 2026: https://www.sec.gov/Archives/edgar/data/886163/000088616326000021/lngd-20260421.htm

## About this data

SEC EDGAR filings, read by Steadybase. Every value links to the filing it came from.
Steadybase covers US-headquartered public companies that file with the SEC. API and MCP access: https://steadybase.io/docs/