Ligand Pharmaceuticals Incorporated
San Diego, California, United States · Biopharma, Biotechnology, Healthcare
Ligand Pharmaceuticals Incorporated is a biopharmaceutical company enabling scientific advancement through supporting the clinical development of high-value medicines. Their business model seeks to generate value for stockholders by creating a diversified portfolio of biotech and pharmaceutical product revenue streams that are supported by an efficient and low corporate cost structure.
Key facts
- Headquarters
- San Diego, California, United States
- Employees
- 68
- Industries
- Biopharma, Biotechnology, Healthcare
- Status
- Public (LGND)
- Website
- ligand.com
- Company page
Recent activity at Ligand Pharmaceuticals Incorporated
- : SEC 8-K (8.01): Ligand Pharmaceuticals Incorporated announced its entry into a financing agreement with AvenCell Therapeutics, Inc., a clinical-stage cell therapy company, for an amount of up to $47 million. This agreement, which was executed on September 24, 2026, includes significant terms pertaining to the financing of controllable, allogeneic CAR-T therapies aimed at treating cancer patients. The transaction may impact Ligand's operational capabilities in the oncology sector and support AvenCell's development efforts.
- : SEC 8-K (7.01): On September 22, 2026, Ligand Pharmaceuticals Incorporated announced that it had acquired royalty and milestone payment rights regarding Santen Pharmaceutical Co., Ltd.’s Ryjunea® from Sydnexis, Inc. for an upfront payment of $23 million. This acquisition marks a strategic enhancement for Ligand in the field of pharmaceutical royalties, potentially leading to significant future revenue from milestone payments. The transaction reflects Ligand's ongoing efforts to expand its portfolio and leverage partnerships in the pharmaceutical industry.
- : SEC 8-K (1.01): On July 14, 2026, Ligand Pharmaceuticals Incorporated completed its merger with XOMA Royalty Corporation and its subsidiary, Flex Merger Sub, Inc., resulting in a Holding Company Reorganization. This merger involved Ligand Pharmaceuticals acquiring XOMA Royalty Holdings Corporation as a wholly owned subsidiary. Additionally, the Company entered into an Amended and Restated Credit Agreement on the same date, providing for a $125 million revolving credit facility, secured by collateral from the Company and its subsidiaries, with significant financial covenants regarding leverage ratios and restrictions on incurring additional debt. The Merger and Credit Agreement are pivotal to Ligand's growth strategy and financial flexibility moving forward.
- : SEC 8-K (1.01): On June 25, 2026, Ligand Pharmaceuticals Incorporated entered into a material definitive agreement by completing a private offering of $700 million aggregate principal amount of 0.00% Convertible Senior Notes due 2031. This offering included an additional $75 million as a result of the initial purchasers' full exercise of their option. The Notes are general senior unsecured obligations and are convertible under specific conditions related to the performance of the company's common stock, with maturity set for September 15, 2031. This agreement represents a significant financing initiative, impacting the company's capital structure and potential future obligations, especially in regards to conversion mechanisms tied to its stock performance.
- : SEC 8-K (1.01): On June 22, 2026, Ligand Pharmaceuticals Incorporated entered into a Consent and Fourth Amendment to its Credit Agreement with certain subsidiaries acting as Guarantors and Citibank, N.A. as the Administrative Agent. This amendment allows for the issuance of $550 million in convertible senior notes due 2031 as part of an Offering. Additionally, it modifies the required minimum Consolidated EBITDA for specific fiscal quarters to $100 million initially and $150 million thereafter. The transaction is significant as it impacts the company's financial covenants and funding strategy.
- : SEC 8-K (5.02):
- : SEC 8-K (1.01): On May 16, 2026, Ligand Pharmaceuticals Incorporated entered into Amendment No. 1 to the Agreement and Plan of Merger with XOMA Royalty Corporation and Flex Merger Sub, Inc., adding XOMA Royalty Holdings Corporation as a party to the merger agreement. This amendment is part of a planned merger that involves Ligand and its subsidiary merging with the newly formed HoldCo, which is a wholly-owned subsidiary of XOMA Royalty, specifically created for this purpose. The merger is structured as a holding company reorganization under Nevada law, and investors are encouraged to review upcoming proxy statements for detailed information about the acquisition process. The transaction is strategically significant for Ligand as it consolidates its ownership structure and aligns with corporate growth objectives.
- : SEC 8-K (1.02): Ligand Pharmaceuticals Incorporated provided written notice to Viking Therapeutics, Inc. on April 24, 2026, about the termination of the TR-Beta Program under the Master License Agreement dated May 21, 2014. The termination is effective on May 4, 2026, due to Viking's alleged material breach of its obligation to develop and commercialize the program. The termination of the agreement will revoke all licenses granted to Viking regarding the TR-Beta Program and obligate Viking to grant Ligand a non-exclusive, worldwide, royalty-bearing license for any relevant patent rights and know-how. The situation is currently contested by Viking, who disputes Ligand's right to terminate the agreement, while Ligand intends to enforce its termination rights under the License Agreement.
- : Ligand to acquire XOMA for $739M cash deal
- : SEC 8-K (1.01): On April 27, 2026, Ligand Pharmaceuticals Incorporated entered into a Merger Agreement with XOMA Royalty Corporation and Flex Merger Sub, Inc., whereby Flex Merger Sub will merge with and into a new holding company (HoldCo), which will survive as a wholly owned subsidiary of Ligand. The agreement stipulates that each XOMA Royalty share will be converted into cash of $39.00 per share, along with contingent value rights linked to contingent payments from RemainCo LLC. Additionally, preferred stockholders will also receive the merger consideration based on their convertible shares. This strategic merger is positioned to strengthen Ligand's portfolio and market position, pending satisfaction of conditions outlined in the agreement.
Ligand Pharmaceuticals Incorporated funding history
| Date | Round | Amount |
|---|---|---|
| Jan 2016 | Venture | $85.4M |
Leadership
- Todd Davis, Chief Executive Officer & Director
- STEPHEN SABBA, Director
- SUNIL PATEL, Director
- JOHN LAMATTINA, Director
- DAVID KNOTT, Director
- TODD DAVIS, Director
- JASON ARYEH, Director
- JOHN KOZARICH, Director
- MELANIE HERMAN, Director
- CHARLES BERKMAN, Director
- MATTHEW KORENBERG, Director
- MATTHEW FOEHR, Director
Verified email and direct lines for Ligand Pharmaceuticals Incorporated’s decision-makers are on Fundz. See plans — or book a 15-minute walkthrough.
Employee benefit plans
Ligand Pharmaceuticals Incorporated files 2 employee benefit plans with the U.S. Department of Labor, including a retirement plan. The next plan year renews in Dec 2026.
Ligand Pharmaceuticals Incorporated in the news
- Ligand to Host Investor Day on December 8, 2026 - The Manila Times (Oct 22, 2026)
- Ligand Pharmaceuticals Inc (LGND) (Q2 2026) Earnings Call Highlights: Royalty Revenue Surges ... - Yahoo Finance (Aug 06, 2026)
- Ligand Pharma: Expect Bright And Exciting Future For This Growing Royalty Aggregator - Seeking Alpha (Jun 30, 2026)
- $739 Million Acquisition of XOMA Strengthens Ligand’s Biopharma Portfolio - BioPharm International (Apr 28, 2026)
- Ligand Completes Acquisition of XOMA Royalty, Creating a - GlobeNewswire (Jul 14, 2026)
- Ligand Announces 2026 Investor Day in New York City - Yahoo Finance (Jun 10, 2026)
- Ligand Pharmaceuticals: The Bull Case Is A Biotech ARM, The Bear Case Is Just Another Royalty Trust - Seeking Alpha (Jun 30, 2026)
- Ligand Acquires Royalty and Milestone Interest in Santen’s Ryjunea® from Sydnexis for $23 Million - GlobeNewswire (Sep 22, 2026)
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About Ligand Pharmaceuticals Incorporated: questions and answers
What does Ligand Pharmaceuticals Incorporated do?
Ligand Pharmaceuticals Incorporated is a biopharmaceutical company enabling scientific advancement through supporting the clinical development of high-value medicines. Their business model seeks to generate value for stockholders by creating a diversified portfolio of biotech and pharmaceutical product revenue streams that are supported by an efficient and low corporate cost structure.
Where is Ligand Pharmaceuticals Incorporated headquartered?
Ligand Pharmaceuticals Incorporated is headquartered in San Diego, California, United States.
How many employees does Ligand Pharmaceuticals Incorporated have?
Ligand Pharmaceuticals Incorporated has about 68 employees.
Has Ligand Pharmaceuticals Incorporated raised funding?
Yes. Fundz has recorded 1 funding event for Ligand Pharmaceuticals Incorporated. The most recent, $85.4M, was in Jan 2016.
Who leads Ligand Pharmaceuticals Incorporated?
Todd Davis is a Chief Executive Officer & Director at Ligand Pharmaceuticals Incorporated.
What is the latest news on Ligand Pharmaceuticals Incorporated?
On Sep 24, 2026, SEC 8-K (8.01): Ligand Pharmaceuticals Incorporated announced its entry into a financing agreement with AvenCell Therapeutics, Inc., a clinical-stage cell therapy company, for an amount of up to $47 million. This agreement, which was executed on September 24, 2026, includes significant terms pertain
Is Ligand Pharmaceuticals Incorporated a public company?
Yes. Ligand Pharmaceuticals Incorporated is publicly traded under the ticker LGND.
Source: Fundz records from SEC filings, press releases and company announcements. How Fundz measures data accuracy