Ligand Pharmaceuticals reported second quarter 2026 GAAP net income of $48.5 million ($2.22 diluted share), up from $4.8 million in the prior year, driven by a 32% increase in royalty revenue to $48.0 million and total revenues of $63.7 million. The company completed a $700 million convertible senior notes offering at 0% interest and closed its acquisition of XOMA Royalty on July 14, 2026, adding over 120 assets including Roche’s VABYSMO and Servier’s OJEMDA. Management raised the low end of full-year adjusted EPS guidance to $9.00 from $8.50 while reaffirming total revenue expectations of $270 million to $310 million. Ligand Pharmaceuticals operates in the biopharmaceutical sector, functioning as a royalty aggregator that finances and advances late-stage clinical development programs.

Ligand Pharmaceuticals Incorporated completed a $700.0 million private offering of 0.00% Convertible Senior Notes due 2031 on June 25, 2026. The company used $72.9 million of net proceeds for convertible note hedge transactions and $60.0 million to repurchase 228,859 shares of common stock at $262.17 per share. Ligand Pharmaceuticals is a biotechnology company that provides contract research and licensing services.

Ligand Pharmaceuticals Incorporated entered into a Fourth Amendment to its Credit Agreement with Citibank, N.A. as Administrative Agent to permit the issuance of $550 million in convertible senior notes due 2031 via a private placement. The amendment also adjusts the minimum Consolidated EBITDA requirements for the four consecutive fiscal quarters ending March 31, 2027, to $100,000,000 and $150,000,000 thereafter. Ligand Pharmaceuticals is a biotechnology company that provides royalty-based revenue and contract research services.

At its 2026 Annual Meeting on June 5, 2026, Ligand Pharmaceuticals stockholders approved an amendment and restatement of the Company's 2002 Stock Incentive Plan. Stockholders also elected eight members to the Board of Directors, ratified Ernst & Young LLP as the independent auditor, and approved a non-binding advisory resolution on executive compensation. Ligand Pharmaceuticals is a biopharmaceutical company that develops and licenses therapeutic proteins and other drug candidates.