Ligand Pharmaceuticals Inc.
- LGND ยท Nasdaq
- Pharmaceutical Preparations
- San Diego, CA
- 47 employees
- CIK 0000886163
Updated from SEC filings through
Top things to know
Executives
- Todd Davis CEO of Ligand 8-K, 2026-10-29
- Todd C. Davis Chief Executive Officer 4, 2026-07-06
-
Octavio Espinoza Chief Financial Officer 4, 2026-08-14 -
Andrew Reardon CLO & Secretary 4, 2026-09-08
What leadership is saying
“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”
Earnings press release (8-K Ex. 99.1), filed October 29, 2026
Ligand Pharmaceuticals Inc is a U.S. public company in pharmaceutical preparations (SIC 2834), headquartered in San Diego, CA. It trades as LGND on Nasdaq. Revenue was $268M in the fiscal year ending December 31, 2025, +60.4% from the year before. It reported about 47 employees. Todd Davis is CEO of Ligand.
Five-year financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $268M 10-K, 2026-02-27 | $167M 10-K, 2026-02-27 | $131M 10-K, 2026-02-27 | $196M 10-K, 2025-02-28 | $242M 10-K, 2024-02-29 |
| Operating income | $41.0M 10-K, 2026-02-27 | -$22.6M 10-K, 2026-02-27 | $11.9M 10-K, 2026-02-27 | $3.0M 10-K, 2025-02-28 | $104M 10-K, 2024-02-29 |
| SG&A | $92.4M 10-K, 2026-02-27 | $78.7M 10-K, 2026-02-27 | $52.8M 10-K, 2026-02-27 | $70.1M 10-K, 2025-02-28 | $46.8M 10-K, 2024-02-29 |
| Net income | $124M 10-K, 2026-02-27 | -$4.0M 10-K, 2026-02-27 | $52.2M 10-K, 2026-02-27 | -$33.4M 10-K, 2025-02-28 | $57.1M 10-K, 2024-02-29 |
Annual figures from XBRL in each company's own filings. Click a figure to open the filing. SG&A marked derived is general and administrative plus selling and marketing.
Leadership and board
| Name | Title | Source |
|---|---|---|
| Todd Davis | CEO of Ligand | 8-K, 2026-10-29 |
| Todd C. Davis CEO, Ligand Pharmaceuticals | Life Sciences Executive & Investor | Chief Executive Officer | 4, 2026-07-06 |
| Octavio Espinoza | Chief Financial Officer | 4, 2026-08-14 |
 Jason Haas | Board member (per proxy) bio: Chief Financial Officer | DEF 14A, 2026-04-21 |
| Andrew Reardon Chief Legal Officer @ Ligand Pharmaceuticals | JD | CLO & Secretary | 4, 2026-09-08 |
| John L. LaMattina, Ph.D. | Board member (per proxy) bio: Director | DEF 14A, 2026-04-21 |
What Ligand Pharmaceuticals Inc does
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.
Item 1. Business, 10-K for the year ending December 31, 2025
Shares and governance
| Shares outstanding | 20.0 million (as of October 27, 2026) | 10-Q, October 30, 2026 |
|---|---|---|
| Public float | $1.6B (as of June 30, 2025) | 10-K, February 27, 2026 |
| Reportable segments | 1 (period ending September 30, 2026) | 10-Q, October 30, 2026 |
| Latest proxy statement | Meeting December 31, 2025 (filed April 21, 2026) | DEF 14A, April 21, 2026 |
| Auditor | Ernst & Young LLP (San Diego, California) | Latest 10-K |
Insider trades
Open-market buys and sales by officers and directors, from Forms 4 and 5. One row per filing.
| Date | Insider | Trade | Shares | Value | Source |
|---|---|---|---|---|---|
| November 4, 2026 | Jason Aryeh Director | Sale | 282 | $90K | Form 4, November 6, 2026 |
| November 2, 2026 | Andrew Reardon CLO & Secretary | Sale | 5,000 | $1.6M | Form 4, November 4, 2026 |
| November 2, 2026 | Jason Aryeh Director | Sale | 2,111 | $676K | Form 4, November 3, 2026 |
| October 2, 2026 | Andrew Reardon CLO & Secretary | Sale | 5,000 | $1.5M | Form 4, October 6, 2026 |
| September 10, 2026 | Martine Zimmermann Director | Sale | 1,200 | $342K | Form 4, September 14, 2026 |
| September 3, 2026 | Andrew Reardon CLO & Secretary | Sale | 5,000 | $1.4M | Form 4, September 8, 2026 |
| August 12, 2026 | Octavio Espinoza Chief Financial Officer | Sale | 31,641 | $9.2M | Form 4, August 14, 2026 |
| August 12, 2026 | Jason Haas Director | Sale | 7,138 | $2.1M | Form 4, August 14, 2026 |
Recent 8-K events
- 8-K filed 2026-10-29
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-09-24
- Item 7.01 Regulation FD disclosure
- Item 8.01 Other events
- 8-K filed 2026-09-22
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-08-06
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-07-14
- 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
- 8-K filed 2026-06-25
- 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
- 8-K filed 2026-06-22
- Item 1.01 Entry into a material definitive agreement
- Item 8.01 Other events
- 8-K filed 2026-06-09
- Item 5.02 Departure or appointment of directors or officers; compensation
- Item 5.07 Submission of matters to a vote of security holders
- 8-K filed 2026-05-18
- Item 1.01 Entry into a material definitive agreement
- 8-K filed 2026-05-07
- Item 2.02 Results of operations and financial condition (earnings release)
Frequently asked questions about Ligand Pharmaceuticals Inc
- What does Ligand Pharmaceuticals Inc do?
- In its own words, from Item 1 of its 10-K: "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."
- What is Ligand Pharmaceuticals Inc's revenue?
- $268M for the fiscal year ending December 31, 2025, from its 10-K filed February 27, 2026.
- Is Ligand Pharmaceuticals Inc profitable?
- Ligand Pharmaceuticals Inc reported net income of $124M for the fiscal year ending December 31, 2025.
- How many employees does Ligand Pharmaceuticals Inc have?
- About 47 as of December 31, 2025, as stated in its annual report.
- Who is the CEO of Ligand Pharmaceuticals Inc?
- Todd Davis, CEO of Ligand, as named in a 8-K filed October 29, 2026.
- Who is the CFO of Ligand Pharmaceuticals Inc?
- Octavio Espinoza, Chief Financial Officer, as named in a 4 filed August 14, 2026.
- Where is Ligand Pharmaceuticals Inc headquartered?
- San Diego, CA.
- What is Ligand Pharmaceuticals Inc's stock ticker?
- LGND, LGNDZ, LGNXZ, LGNYZ, LGNZZ on Nasdaq.
- What industry is Ligand Pharmaceuticals Inc in?
- Pharmaceutical Preparations, SIC code 2834.
- What is Ligand Pharmaceuticals Inc's website?
- ligand.com.
- When does Ligand Pharmaceuticals Inc report earnings next?
- January 28, 2027. Source: estimate_8k_pattern.
- Is Ligand Pharmaceuticals Inc a public company?
- Yes. Ligand Pharmaceuticals Inc files with the SEC under CIK 0000886163 and trades as LGND.
- Who audits Ligand Pharmaceuticals Inc?
- Ernst & Young LLP, San Diego, California, as named in its latest annual report (10-K).
- How many shares of Ligand Pharmaceuticals Inc are outstanding?
- 20.0 million shares as of October 27, 2026, from its 10-Q filed October 30, 2026.
- What is Ligand Pharmaceuticals Inc's public float?
- $1.6B as of June 30, 2025, as reported on the cover of its 10-K filed February 27, 2026.
- How many business segments does Ligand Pharmaceuticals Inc report?
- 1 reportable segment for the period ending September 30, 2026, from its 10-Q filed October 30, 2026.
- When is Ligand Pharmaceuticals Inc's annual shareholder meeting?
- December 31, 2025, per its proxy statement (DEF 14A) filed April 21, 2026.
- Have Ligand Pharmaceuticals Inc insiders traded stock recently?
- Since March 4, 2026, officers and directors reported 23 open-market sales worth about $30.6M and 0 purchases on Forms 4 and 5. The most recent: Jason Aryeh (Director) sold 282 shares on November 4, 2026.