LGND · XBRL financial data

Ligand Pharmaceuticals financial statements, every fiscal year

The same tables from 6 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 years (LGND's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue from contracts with customers	186	277	196	131	167	268
Research and development	59	69	36	25	21	81
General and administrative	64	57	70	53	79	92
Other operating income (expense)	(1)	38	0	0	—	—
Operating income (loss)	26	79	3	12	(23)	41
Interest income	8	1	2	8	8	14
Interest expense	27	20	2	1	3	5
Other income (expense)	(0)	(9)	4	(2)	(55)	(0)
Income tax expense (benefit)	(8)	(10)	41	10	7	35
Net income (loss)	(3)	57	(33)	52	(4)	124
Earnings per share, basic USD per share	(0.18)	3.44	(1.98)	3.02	(0.22)	6.44
Earnings per share, diluted USD per share	(0.18)	3.31	(1.98)	2.94	(0.22)	6.13
Weighted average shares, basic millions of shares	16	17	17	17	18	19
Weighted average shares, diluted millions of shares	16	17	17	18	18	20

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

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	48	20	45	23	72	175
Short-term investments	364	322	167	147	184	559
Accounts receivable	57	85	30	33	38	60
Inventory	26	27	13	24	14	9
Total current assets	501	465	264	237	332	832
Property and equipment, net	14	21	12	16	15	4
Right-of-use asset	7	17	11	6	7	5
Goodwill	190	181	106	103	105	102
Total assets	1,362	1,298	763	787	942	1,561
Accounts payable	4	8	5	2	5	3
Accrued liabilities	19	18	16	12	28	31
Total current liabilities	100	42	99	17	37	37
Lease liability, non-current	6	15	10	6	6	4
Total liabilities	653	476	165	86	111	543
Retained earnings	392	449	451	503	499	608
Total stockholders' equity	710	821	597	701	830	1,017
Total liabilities and equity	1,362	1,298	763	787	942	1,561
Common shares outstanding (cover page) millions of shares	17	17	17	18	19	20

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

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(3)	57	(33)	52	(4)	124
Stock-based compensation	31	39	60	26	41	47
Depreciation and amortization	26	51	52	37	35	34
Net cash from operating activities	55	79	138	50	97	49
Purchases of property and equipment	4	9	18	4	2	0
Net cash from investing activities	232	31	164	(12)	(144)	(377)
Proceeds from issuing common stock	—	—	0	0	37	0
Share repurchases	78	0	0	0	0	15
Repayments of long-term debt	222	156	261	77	0	0
Net cash from financing activities	(311)	(138)	(276)	(60)	97	428
Net change in cash	—	—	25	(22)	49	103

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.