LGND · XBRL financial data

Ligand Pharmaceuticals financial statements, every quarter

The same tables from 12 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal quarters (LGND's year ends in late December)

In millions of dollars	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026	Q3 FY26Sep 30, 2026
Revenue from contracts with customers	28*	31	42	52	43*	45	48	115	60*	52	64	79
Research and development	5*	6	5	6	4*	50	7	21	4*	2	15	3
General and administrative	16*	11	18	24	26*	19	20	28	25*	21	29	73
Other operating income (expense)	year only	—	—	—	—	—	—	—	—	—	—	—
Operating income (loss)	(3)*	3	(19)	3	(10)*	(36)	8	55	14*	17	9	(16)
Interest income	2*	2	3	1	2*	2	2	4	6*	7	7	5
Interest expense	0*	0	1	1	1*	1	1	1	2*	2	2	3
Other income (expense)	3*	(2)	(34)	(12)	(7)*	(3)	1	(0)	1*	(1)	3	9
Income tax expense (benefit)	(1)*	27	(13)	1	(8)*	(8)	6	24	12*	(11)	16	(16)
Net income (loss)	18*	86	(52)	(7)	(31)*	(42)	5	117	45*	(13)	49	(28)
Earnings per share, basic USD per share	1.04*	4.86	(2.88)	(0.39)	—	(2.21)	0.25	5.99	2.33*	(0.67)	2.42	(1.43)
Earnings per share, diluted USD per share	1.01*	4.75	(2.88)	(0.39)	(1.67)*	(2.21)	0.24	5.68	—	(0.67)	2.22	(1.43)
Weighted average shares, basic millions of shares	17*	18	18	18	19*	19	19	20	19*	20	20	20
Weighted average shares, diluted millions of shares	18*	18	18	18	19*	19	20	21	21*	20	22	20

Fiscal quarters (LGND's year ends in late December)

In millions of dollars	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026	Q3 FY26Sep 30, 2026
Cash and cash equivalents	23	50	18	64	72	48	68	139	175	115	1,007	56
Short-term investments	147	261	209	156	184	161	177	525	559	664	351	391
Accounts receivable	33	28	37	34	38	38	41	58	60	53	67	83
Inventory	24	21	19	17	14	15	15	12	9	13	10	15
Total current assets	237	369	312	309	332	309	353	754	832	865	1,457	608
Property and equipment, net	16	15	15	15	15	4	4	3	4	3	3	4
Right-of-use asset	6	6	7	7	7	7	8	8	5	7	6	21
Goodwill	103	105	105	105	105	102	102	102	102	102	102	208
Total assets	787	914	866	955	942	905	949	1,477	1,561	1,532	2,186	2,237
Accounts payable	2	2	2	5	5	5	9	4	3	5	9	4
Accrued liabilities	12	12	12	16	28	24	17	24	31	32	32	36
Current portion of long-term debt	—	—	—	—	—	—	—	—	—	—	—	448
Total current liabilities	17	18	19	25	37	59	65	31	37	41	47	501
Long-term debt	—	—	—	—	—	—	—	—	—	—	—	680
Lease liability, non-current	6	5	6	6	6	4	5	4	4	4	4	21
Total liabilities	86	107	91	114	111	110	120	527	543	535	1,218	1,276
Retained earnings	503	589	537	530	499	457	461	578	608	595	583	555
Total stockholders' equity	701	807	775	841	830	796	829	950	1,017	997	968	962
Total liabilities and equity	787	914	866	955	942	905	949	1,477	1,561	1,532	2,186	2,237
Common shares outstanding (cover page) millions of shares	18	18	18	19	19	19	20	20	20	20	20	20

Fiscal quarters (LGND's year ends in late December)

In millions of dollars	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026	Q3 FY26Sep 30, 2026
Net income (loss)	18*	86	(52)	(7)	(31)*	(42)	5	117	45*	(13)	49	(28)
Stock-based compensation	6*	7	11*	15*	8*	8	10*	15*	14*	11	14*	18*
Depreciation and amortization	9*	9	9*	9*	9*	9	9*	8*	8*	8	8*	10*
Net cash from operating activities	8*	19	13*	37*	28*	(25)	16*	13*	46*	49	24*	(28)*
Purchases of property and equipment	0*	0	0*	1*	1*	0	0*	0*	0*	0	0*	0*
Net cash from investing activities	(10)*	(4)	(55)*	(47)*	(39)*	5	(11)*	(353)*	(18)*	(94)	321*	(878)*
Proceeds from issuing common stock	0*	—	—	—	3*	—	—	—	0*	—	—	—
Share repurchases	year only	—	—	—	0*	—	—	15*	0*	—	—	0*
Repayments of long-term debt	0*	—	—	0*	0*	—	—	—	year only	—	—	—
Net cash from financing activities	5*	12	9*	55*	20*	(5)	15*	410*	8*	(14)	546*	4*
Net change in cash	3*	27	(32)*	45*	9*	(24)	20*	72*	36*	(60)	892*	(903)*

SIC 2834 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 2834 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-K, the year less the first three quarters; for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
Ligand Pharmaceuticals	56	79	(28)*	20.0M	—	Q3 FY26 10-QSep 30, 2026
Ocular Therapeutix	599	13	(67)*	219.6M	8.9 quarters	Q2 FY26 10-QJun 30, 2026
Avadel Pharmaceuticals	80	77	22*	97.7M	—	Q3 FY25 10-QSep 30, 2025
Sarepta Therapeutics	571	401	197*	105.6M	—	Q2 FY26 10-QJun 30, 2026
Supernus Pharmaceuticals	176	227	6.6*	58.2M	—	Q3 FY26 10-QSep 30, 2026
Amicus Therapeutics	214	185*	16*	314.0M	—	Q4 FY25 10-KDec 31, 2025
Apellis Pharmaceuticals	405	268	(61)	128.0M	6.6 quarters	Q1 FY26 10-QMar 31, 2026
Arrowhead Pharmaceuticals	55	75	(177)*	141.3M	9.0 quarters	Q3 FY26 10-QJun 30, 2026
Indivior Pharmaceuticals	305	356	97*	118.0M	—	Q3 FY26 10-QSep 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.