Ligand Pharmaceuticals Incorporated
Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) is a biopharmaceutical royalty company that invests in and licenses technologies to build royalty interests in medicines developed and commercialized by partners. It generates revenue primarily from royalties, as well as Captisol material sales, license fees and… From the company’s description.
In fiscal 2025, Ligand Pharmaceuticals Incorporated reported revenue of $268.09M, up 60.4% from fiscal 2024, and net income of $124.45M. Its operating margin was 15.3%, and operations generated $49.36M in cash. Over the twelve months to Jun 30, 2026, revenue was $290.54M.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What Ligand Pharmaceuticals Incorporated does
In the company’s own words
Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) is a biopharmaceutical royalty company that invests in and licenses technologies to build royalty interests in medicines developed and commercialized by partners. It generates revenue primarily from royalties, as well as Captisol material sales, license fees and milestone payments, while relying on partners for research, manufacturing and commercialization. Ligand’s portfolio includes 12 major commercial-stage royalty assets and more than 100 other commercial and development programs, spanning areas such as oncology, infectious disease, respiratory disease and nephrology. Its royalty-generating technology platforms include Captisol, a drug-solubilizing technology used in products such as Kyprolis, Veklury and Evomela, and NITRICIL, used in Zelsuvmi. Ligand also has economic exposure to the Pelican Expression Technology platform through its investment in Primrose Bio. The company reports its business as a royalty and technology platform operation rather than through multiple reportable segments. Following the 2022 spin-off of OmniAb and the 2023 spin-off of Pelican, Ligand has focused on royalty investments and infrastructure-light platforms. Its 2025 royalty receipts totaled $176.9 million. Its website is www.ligand.com.
Company details
- Sector
- Health Care
- Industry (SIC)
- Pharmaceutical Preparations
- Headquarters
- SAN DIEGO, CA
- Fiscal year end
- December
- CIK
- 886163
- SIC
- 2834
Financial performance, year by year
Fiscal 2013–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns Ligand Pharmaceuticals Incorporated — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · Ligand Pharmaceuticals Incorporated’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Ligand Pharmaceuticals Incorporated’s bonds, as funds hold them
Funds report holding 2 issues of Ligand Pharmaceuticals Incorporated’s debt, $149.70M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 0.75%, maturing 2030 to 2031.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
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