Last updated
Revenue
R&D Expenses
Operating CF
Total Assets
Total Liabilities
Equity
Shares Out.
D/E Ratio
Dilution Watch
Financials
52W LOW $175.8952W HIGH $326.63
Volume
366.55 K
Value Traded
56.22 M
Short % Float
13.77%
Days to Cover
8.7
+2.1%Week
-3.37%1 Month
+2.03%3 Month
+25.53%6 Month
+83.83%5 Year
+194.01%All Time
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
6.05 B
EPS (TTM)
9.89
P/E Ratio
30.68
Ent. Value
5.82 B
Total Shares
19.94 M
Float Shares
19.45 M
Insiders
2.42%
Institutions
114.59%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
| Catalyst | Drug / Treatment | Stage | Prob. of Approval | Description | Drug Type | Therapeutic Area | Source |
|---|---|---|---|---|---|---|---|
PDUFA 2026 | Example Drug Treatment for example condition requiring FDA review | Phase 3 | Small Molecule | Oncology | - |
PoA blends historical approval base rates, trial design score and FDA review track record.
LGND Catalyst Timeline
Dated clinical, regulatory and corporate events for Ligand Pharmaceuticals Incorporated
Catalyst Timeline
Dated clinical, regulatory & corporate events for Ligand Pharmaceuticals Incorporated
426Total events
11Upcoming
214Tier-1 (high impact)
2015 to 2027Coverage
Upcoming catalysts 2
Event history 50
▲Partnership / LicenseRyjuneaCorporate
Sydnexis sells EMEA Ryjunea royalty rights to Ligand for $23M upfront
pediatric progressive myopiasource ↗
◆Oral PresentationPresentation
Ligand management fireside chat at RBC Capital Markets Global Healthcare Conference
◆Oral PresentationPresentation
Ligand management fireside chat at H.C. Wainwright BioConnect Investor Conference
◆Oral PresentationPresentation
Ligand management fireside chat at Bank of America Healthcare Conference
◆Oral PresentationPresentation
Ligand CEO Todd Davis and Palvella Therapeutics CEO Wes Kaupinen fireside chat at H.C. Wainwright Royalty Company Conference
▲Trial InitiationTrial
First patients dosed in Phase 2 LOTU trial of Qtorin rapamycin for angiokeratomas
clinically significant angiokeratomassource ↗
▲Quarterly UpdateFilspariApprovedCorporate
Travere reports Q1 2026 results: Filspari net sales $105M, 993 new patient start forms
IgANsource ↗
◆Oral PresentationPresentation
Ligand management to participate in May 2026 investor conferences
▲Breakthrough Therapy DesignationDesignation
FDA granted Breakthrough Device Designation for AVIM Therapy
uncontrolled hypertension in patients indicated for a pacemakersource ↗
◆PDUFA DateTZIELDFiledRegulatory Filing
FDA target action date for Tzield sBLA is April 29, 2026
stage 2 type 1 diabetessource ↗
▲FDA ApprovalFilspariApprovedFDA Decision
FDA approval for FILSPARI in FSGS
focal segmental glomerulosclerosis (FSGS) without nephrotic syndromesource ↗
▲Full ResultsFilspariApprovedClinical Data
Phase 3 DUPLEX Study final analysis results published in NEJM
focal segmental glomerulosclerosis (FSGS)source ↗
▲FDA ApprovalFilspariApprovedFDA Decision
FDA approval of Filspari for FSGS
focal segmental glomerulosclerosis (FSGS)source ↗
◆PDUFA DateFilspariApprovedRegulatory Filing
FDA extended Filspari sNDA review; new PDUFA April 13, 2026
focal segmental glomerulosclerosissource ↗
◆Enrollment CompleteFilspariApprovedTrial
SPARX Study enrollment completion expected Q2 2026
post-transplant patients with recurrent IgAN or FSGSsource ↗
◆Oral PresentationPresentation
Ligand management to present at Nordic-American Healthcare Conference 2026
▲Trial InitiationTrial
Initiated patient enrollment in Virtue SAB U.S. pivotal trial
coronary in-stent restenosissource ↗
◆Oral PresentationPresentation
Ligand management to participate in one-on-one meetings at Leerink Partners Global Healthcare Conference
◆Oral PresentationPresentation
Ligand management to present at Oppenheimer 36th Annual Healthcare Life Sciences Conference
▲Topline ReadoutClinical Data
Positive topline results from Phase 3 SELVA study of Qtorin rapamycin for MLMs
microcystic lymphatic malformations (MLMs)source ↗
▲Quarterly UpdateFilspariApprovedCorporate
Travere reported Q4 2025 Filspari net sales $103M
focal segmental glomerulosclerosissource ↗
▲NDA SubmissionOhtuvayreFiledRegulatory Filing
NMPA accepted NDA for Ohtuvayre in China
chronic obstructive pulmonary diseasesource ↗
▲Priority ReviewTZIELDFiledRegulatory Filing
FDA accepted for priority review sBLA for Tzield to expand age indication to 1 year+
stage 2 type 1 diabetessource ↗
●Breakthrough Therapy DesignationDesignation
Palvella requested Preliminary Breakthrough Therapy Designation Advice meeting with FDA for Qtorin rapamycin in cutaneous VMs
cutaneous venous malformationssource ↗
◆Topline ReadoutClinical Data
Top-line results from SELVA expected
microcystic lymphatic malformationssource ↗
▲Fast Track DesignationDesignation
FDA granted Fast Track Designation to Qtorin rapamycin for angiokeratomas
angiokeratomassource ↗
▲Topline ReadoutClinical Data
Positive Phase 2 TOIVA results for Qtorin rapamycin in cutaneous VMs
cutaneous venous malformationssource ↗
◆Topline ReadoutClinical Data
Top-line results from TOIVA expected in mid-December 2025
cutaneous venous malformationssource ↗
▲Topline ReadoutsparsentanFiledClinical Data
Positive Phase 3 topline results for sparsentan in Japanese IgAN patients
IgA nephropathysource ↗
▼Trial DiscontinuedUGN-301DiscontinuedTrial
UroGen discontinued development of UGN-301 (zalifrelimab) after Phase 1
◆Oral PresentationPresentation
Ligand management to participate in UBS and Stifel investor conferences in November 2025
▲First Patient DosedTrial
Orchestra BioMed enrolled first patients in Virtue Trial (pivotal study of Virtue SAB)
coronary artery diseasesource ↗
▲Partnership / LicensesparsentanFiledCorporate
Chugai to acquire Renalys, gaining exclusive rights to sparsentan in Japan, South Korea, Taiwan
IgA nephropathysource ↗
▲FDA Filing AcceptedTZIELDFiledRegulatory Filing
FDA accepted sBLA for Tzield to delay progression of stage 3 T1D
stage 3 type 1 diabetessource ↗
▲Product LaunchPost-Market
Expected commercial availability of Lasix ONYU
edema due to fluid overload in chronic heart failuresource ↗
Past FDA Catalysts and PDUFA Decisions
How LGND actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| 2013-04-12 | Sitavig (acyclovir) | PDUFA Date Approved | PDUFA |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
Pipeline Score
Pipeline Value
Valuation Signal
12
Drugs Scored
rNPV / MCap
Top Drug
Top 72%
Small Cap(rank 473 of 657)
Percentile Rank
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PS433540 Small moleculeMarketedNCT00635232 | Hypertension | Phase 2 | COMPLETED | 541 | Dec 1, 2008 |
Clinical Trial Results
Readouts, endpoints and source filings for every LGND program
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| Reardon AndrewOfficer (CLO & Secretary) | Option | 340 36,854 held | $52.27 | 10/02/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in LGND
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| No hedge fund reported a 13F position in LGND for Q2 2026. | ||||
LGND Institutional Ownership Trends
LGND Short Interest
Shares sold short, counted twice a month.
13.77%
Short % of Float
of tradable shares sold short
2.7M
Shares Sold Short
+1.7% vs prior count
8.7 High
Days to Cover
trading days of normal volume to buy every short share back
306.6K
Avg Daily Volume
the average used for days to cover
Options Data
Option Volume
Open Interest
Call OI
Put OI
Put-Call Ratio
OI 30-day avg
Today vs avg
Option Volume
Call Vol
Put Vol
Put-Call Ratio
Vol 30-day avg
Today vs avg
Option Chain Statistics
| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-11-20 | ||||||||||||
Real-Time Option Chain
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Last | Vol | OI | Last | Vol | OI | |
| No data available | ||||||
Calls vs Puts by Expiry
CallsPutsLog scale
Competitive positioning
How LGND ranks across every disease it competes in
Competitive Position is a premium feature
See how LGND ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialLGND News
LGND▼ -1.4%today
Ligand to Host Investor Day on December 8, 2026
Ligand Pharmaceuticals will host its annual Investor Day on December 8, 2026, in New York City. The event will feature presentations from CEO Todd Davis and CFO Tavo Espinoza, focusing on the company's strategy and financial outlook. Wes Kaupinen, CEO of Palvella Therapeutics, will discuss QTORIN™ rapamycin's development for rare diseases.
Read more →LGNDLigand to Report Third Quarter 2026 Financial Results on October 29, 2026
Ligand Pharmaceuticals announced it will report its third quarter 2026 financial results on October 29, 2026. A conference call will follow at 8:30 a.m. Eastern time to discuss the results and provide a business update. Ligand is recognized for its extensive portfolio of biopharmaceutical royalties.
Read more →LGNDLigand and AvenCell Therapeutics Enter Financing Agreement to Advance Pipeline of Next-Generation CAR-T Therapies for Up to $47 Million
Ligand Pharmaceuticals has entered a financing agreement with AvenCell Therapeutics for up to $47 million to advance their CAR-T therapy pipeline. This investment includes a commitment of up to $41 million in exchange for royalties on AvenCell's products, including AVC-201 and AVC-203. The funding will be released in tranches based on clinical milestones. AvenCell's innovative approach combines CRISPR technology with switchable CAR-T therapies, aiming to improve treatment for various cancers.
Read more →LGNDSydnexis Announces Royalty Agreement with Ligand for Ryjunea®
Sydnexis, Inc. has entered into a royalty agreement with Ligand Pharmaceuticals, allowing Ligand to acquire rights to net sales of Ryjunea® in Europe, the Middle East, and Africa. This agreement includes a substantial upfront payment of $23 million. The collaboration aims to bolster Ligand's offerings in treating pediatric progressive myopia.
Read more →LGNDLigand Acquires Royalty and Milestone Interest in Santen’s Ryjunea® from Sydnexis for $23 Million
Ligand Pharmaceuticals has acquired a tiered royalty interest in Santen's Ryjunea for $23 million. Ryjunea is the first pharmacological treatment approved in Europe to slow myopia progression in children. Ligand will receive royalties on net sales in Europe, the Middle East, and Africa, enhancing its royalty portfolio.
Read more →LGNDLigand to Participate in September Investor Conferences
Ligand Pharmaceuticals announced that its senior management will participate in several upcoming investor conferences, including the Wells Fargo Healthcare Conference and the Citi Biopharma Back to School Conference. These events will feature fireside chats and presentations, providing opportunities for one-on-one meetings with investors. Ligand continues to strengthen its position as a leading royalty aggregator in the biopharmaceutical industry.
Read more →LGNDLigand Reports Second Quarter 2026 Financial Results
Ligand Pharmaceuticals reported strong financial results for Q2 2026, with a 32% increase in royalty revenue year-over-year, totaling $63.7 million. The company raised its adjusted EPS guidance while maintaining its revenue forecast. The recent acquisition of XOMA Royalty is expected to enhance Ligand's portfolio significantly. However, increased expenses in R&D and administration were noted.
Read more →LGNDLigand to Report Second Quarter 2026 Financial Results on August 6, 2026
Ligand Pharmaceuticals announced it will report its second quarter 2026 financial results on August 6, 2026. A conference call is scheduled for 8:30 a.m. Eastern time to discuss these results and provide a business update. Ligand is known for its extensive portfolio of biopharmaceutical royalties and proprietary technologies.
Read more →LGNDXOMA Royalty Announces Closing of Its Acquisition by Ligand
Ligand Pharmaceuticals has finalized its acquisition of XOMA Royalty Corporation, allowing XOMA stockholders to receive $39.00 in cash per share. Additionally, stockholders will receive a Contingent Value Right entitling them to a portion of potential proceeds from ongoing litigation. Following the acquisition, XOMA Royalty's shares will no longer be traded on the Nasdaq.
Read more →LGNDLigand Announces Closing of Convertible Senior Notes Offering
Ligand Pharmaceuticals has successfully completed a $700 million offering of convertible senior notes due 2031. The proceeds will enhance financial flexibility, with a portion allocated for share repurchase to offset potential dilution. Ligand plans to use the remaining funds for general corporate purposes, including investments in complementary businesses.
Read more →LGND▲ +6.6%on this newsshared move
Ligand Announces Pricing of Upsized $625 Million Convertible Senior Notes Offering
Ligand Pharmaceuticals has announced the pricing of $625 million in convertible senior notes due 2031. The offering is intended to enhance financial flexibility, with proceeds allocated for share repurchases and general corporate purposes. The notes will not bear regular interest and can be converted under specific conditions. The transaction is expected to close on June 25, 2026.
Read more →LGNDLigand Announces Proposed Offering of $550 Million of Convertible Senior Notes Due 2031
Ligand Pharmaceuticals announced a proposed offering of $550 million in convertible senior notes due 2031. The proceeds will enhance financial flexibility, fund share repurchases, and support general corporate purposes. Ligand plans to use part of the proceeds for convertible note hedge transactions to mitigate potential dilution from the notes' conversion.
Read more →LGNDLigand Announces 2026 Investor Day in New York City
Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) has announced an Investor Day scheduled for December 8, 2026, in New York City. The event will feature presentations from senior management discussing the company's strategies, investment activities, and long-term financial projections. Ligand, known for its extensive royalty portfolio, aims to finance biopharmaceutical developments while ensuring steady revenue streams. Further details about the agenda and live webcast will be shared closer to the date of the event.
Read more →LGNDLigand to Participate in June Investor Conferences
Ligand Pharmaceuticals announced participation in two investor conferences scheduled for June 2026. The management team will hold one-on-one meetings at the Stifel 2026 Boston Cross Sector Conference on June 3 and will engage in a fireside chat at the Goldman Sachs Global Healthcare Conference on June 10. These events are positioned to enhance investor relations and showcase the company's innovative portfolio.
Read more →LGND▼ -9.6%on this news
Ligand Reports First Quarter 2026 Financial Results
Ligand Pharmaceuticals reported a 56% increase in royalty revenue for Q1 2026, driven by strong performance from Filspari and other assets. The company reaffirmed its full-year financial guidance, anticipating contributions from the pending acquisition of XOMA Royalty Corporation. Despite a GAAP net loss, adjusted net income showed a 30% growth compared to the previous year.
Read more →LGNDLigand to Participate in May 2026 Investor Conferences
Ligand Pharmaceuticals announced its participation in upcoming investor conferences, where its senior management will engage in one-on-one meetings with investors. The company is recognized for its extensive portfolio of biopharmaceutical royalties and its commitment to financing late-stage clinical development programs. Interested investors can arrange meetings through designated representatives.
Read more →LGNDLigand to Participate in May Investor Conferences
Ligand Pharmaceuticals has announced its participation in several upcoming investor conferences in May 2026, showcasing its senior management team. Notably, CEO Todd Davis and president Wes Kaupinen will engage in a fireside chat at the H.C. Wainwright Royalty Company Conference. The company aims to foster investor relationships through one-on-one meetings at various events, emphasizing its role as a major player in the biopharmaceutical royalty space and its diversified portfolio of assets.
Read more →LGNDLigand to Acquire XOMA Royalty, Further Accelerating Profit Growth and Strengthening Ligand's Position as a Leading Biopharma Royalty Aggregator
Ligand Pharmaceuticals has announced its acquisition of XOMA Royalty Corporation for $39.00 per share in cash, totaling approximately $739 million. This strategic move is expected to enhance Ligand's royalty portfolio to over 200 assets and adds seven new commercial products. The acquisition will also immediately accrete to Ligand's earnings per share, with a projected increase in their 2026 adjusted EPS guidance. The deal has been approved by both companies' Boards of Directors and is expected to close in the third quarter of 2026, subject to customary conditions.
Read more →LGNDLigand to Report First Quarter 2026 Financial Results on May 7, 2026
Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) has announced that it will report its first quarter 2026 financial results on May 7, 2026. The company plans to hold a conference call at 8:30 a.m. Eastern time on the same day to discuss these results and provide a business update. Ligand is recognized as a leading royalty aggregator with a significant portfolio of biopharmaceutical royalties, enabling them to align capital with clinical success.
Read more →LGND▲ +8.9%on this news
Ligand Partner Travere Therapeutics Receives Full FDA Approval for FILSPARI (sparsentan) in FSGS
Travere Therapeutics has received full FDA approval for FILSPARI (sparsentan), the first and only treatment for focal segmental glomerulosclerosis (FSGS) without nephrotic syndrome. This milestone could drive long-term royalty growth for Ligand Pharmaceuticals, entitled to a 9% royalty on FILSPARI's global sales. The approval is based on positive results from the Phase 3 DUPLEX Study, where FILSPARI exhibited a significant reduction in proteinuria compared to the conventional treatment. With an estimated 30,000 patients in the U.S. affected by this condition, FILSPARI presents a critical option for managing FSGS.
Read more →About Ligand Pharmaceuticals Incorporated
Headquarters3911 SORRENTO VALLEY BLVD, SAN DIEGO, CA, 92121
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