First and foremost, we are amplifying our brand story. We recently launched our new co-branded campaign with National Geographic, Reframe Travel, showcasing how lean blood enables guests to experience the world through a unique, authentic lens. How you see it matters. And this is why guests choose LeanBlood Expeditions. And this complaint captures our difference so well. It is launched across multiple channels and early engagements are very promising.

Feb 27, 2025 / receipt, needs a key / Natalia Leahy, CEO | earnings call 2025-02-27 | transcript ff4aaa14-1268-4341-87db-c4eed7b78446 | chars 8686-9141 | segment 9

Second, we will focus on reaching new audiences and reaching them through new sales channels. For this, we developed a robust plan with our National Geographic partners. It spans from integrating booking tools with the Disney National Geographic platform to joining Disney's earmarked travel advisor program, which will significantly increase our exposure to new top-tier travel agencies. In addition, we will target Disney audiences through direct mail, reaching new guest prospects.

Feb 27, 2025 / receipt, needs a key / Natalia Leahy, CEO | earnings call 2025-02-27 | transcript ff4aaa14-1268-4341-87db-c4eed7b78446 | chars 9142-9626 | segment 9

At the same time as we're making these investments in sales and marketing, We're also innovating on the cost side of our business with a goal of reducing expenses while maintaining the guest experience and our commitment to safety. Particular areas of focus include supply chain and procurement, crew planning and travel, and dry dock optimization.

Feb 27, 2025 / receipt, needs a key / Rick Goldberg, CFO | earnings call 2025-02-27 | transcript ff4aaa14-1268-4341-87db-c4eed7b78446 | chars 16952-17300 | segment 17

We're also expanding through various sales channels by enabling access to earmarked Disney agencies, which are premier Disney agencies, and that enables us to collaborate with very new travel partners.

Feb 27, 2025 / receipt, needs a key / Rick Goldberg, CFO | earnings call 2025-02-27 | transcript ff4aaa14-1268-4341-87db-c4eed7b78446 | chars 22406-22607 | segment 22

120+ total assets acquired

ir_statement / Sep 15, 2026 / receipt

XOMA operating expenses of ~$30M collapses to <$5M under Ligand

ir_statement / Sep 15, 2026 / receipt

G&A investments - Increase in stock-based compensation, scaling of BD function, cost to execute XOMA acquisition

ir_statement / Sep 15, 2026 / receipt

G&A modestly higher - Supporting growth of BD function

ir_statement / Sep 14, 2026 / receipt

Travere has already expanded the salesforce to include more pediatric reps

ir_statement / Sep 14, 2026 / receipt

Acquisition of XOMA Royalty will add > 100 development stage programs to our portfolio

ir_statement / Sep 14, 2026 / receipt

Announced immediately accretive acquisition of XOMA Royalty expected to add ~$0.50 of adjusted EPS in 20261 and ~$1.50 in 20272

ir_statement / Sep 14, 2026 / receipt

Cash OpEx $92M $40M $38M $40M $50M

ir_statement / Sep 14, 2026 / receipt

During the last four years, Ligand has transformed its business model to an operationally light strategy focused on profitable and compounding growth

ir_statement / Sep 14, 2026 / receipt

FTEs 170 35 42 45 49

ir_statement / Sep 14, 2026 / receipt