LGND
Ligand Pharmaceuticals Incorporated192.63
-0.25-0.13%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
3.79BP/E (TTM)
84.86Basic EPS (TTM)
2.27Dividend Yield
0%Recent Filings
8-K
Ligand extends credit maturity to 2028
Ligand Pharmaceuticals extended its credit agreement maturity to September 12, 2028, from the prior date, while tightening the minimum consolidated EBITDA covenant to $55 million for the trailing four quarters ending September 30, 2025, and beyond. This move buys three years of liquidity runway, easing near-term refinancing pressure amid biotech volatility. Lenders agreed, signaling confidence in Ligand's cash flow trajectory. Yet covenants now demand sharper execution.
8-K
Ligand closes $460M notes offering
Ligand Pharmaceuticals closed its $460 million private offering of 0.75% convertible senior notes due 2030 on August 14, 2025, including the full $60 million greenshoe option. The notes, unsecured and maturing October 1, 2030, carry semiannual interest from April 2026 and convert initially at 5.1338 shares per $1,000 principal—about $194.79 per share, a 32.5% premium to the August 11 closing price. Net proceeds of $445.1 million funded $45.9 million in hedge transactions, $15 million to repurchase 102,034 shares at $147.01 each, and general corporate uses like investments. Yet dilution looms if stock tops $294.02 on related warrants.
8-K
Ligand proposes $400M notes offering
Ligand Pharmaceuticals announced a proposed $400 million private offering of convertible senior notes due 2030, with an option for $60 million more, maturing October 1, 2030, and paying semiannual interest from April 2026. The company amended its credit agreement to allow cash settlements on the notes, while planning hedge transactions to curb dilution and up to $30 million in stock repurchases. Proceeds will fund general corporate needs, including investments in complementary biotech assets. Yet, hedge activities may sway stock prices.
10-Q
Q2 FY2025 results
Ligand Pharmaceuticals swung to an operating profit of $8.4 million in Q2 FY2025 ended June 30, 2025, up from a $19.1 million loss a year earlier, while total revenues climbed 15% year-over-year to $47.6 million, driven by 57% higher royalties reaching $36.4 million on stronger Filspari and new Qarziba contributions. Gross margins held steady as Captisol sales edged up 10% to $8.3 million, but year-to-date figures show a $27.8 million operating loss amid a $44.3 million R&D hit from the Castle Creek funding deal. Diluted EPS came in at $0.24, aligning with 19.9 million shares and no anti-dilution quirks. Cash and equivalents dipped to $67.7 million with $177.4 million in short-term investments, bolstering liquidity alongside a $125 million revolver fully available; the Pelthos spin-off closed in July for $18 million equity, adding ZELSUVMI royalties. Yet regulatory hurdles could snag partner programs.
8-K
Ligand boosts guidance on royalty surge
Ligand Pharmaceuticals reported Q2 2025 revenues of $47.6 million, up 15% from last year, fueled by 57% royalty growth to $36.4 million from Qarziba and Filspari. The company raised full-year guidance to $200-$225 million in revenue and $6.70-$7.00 adjusted EPS, reflecting portfolio strength. Key wins include Pelthos' Zelsuvmi launch, earning Ligand a $5 million milestone and 13% royalties, plus a $25 million investment in Orchestra BioMed for double-digit royalties. Merck's $10 billion Verona acquisition boosts Ohtuvayre's trajectory, where Ligand holds a 3% cut. Strong royalties drive earnings.
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