Ligand Pharmaceuticals Inc.

Day range

$302.37 – $313.28

Open

$307.82

Prev close

$307.82

Volume

366.58K

Market cap

$6.14B

Shares out

19.94M

P/E

31.12

P/S

21.12

P/B

6.34

P/FCF

47.65

ROE

20.4%

ROA

9.0%

Debt/Equity

1.16

Div yield

0.00%

As of Oct 22, 2026

• Deal completionsJul 14, 2026

  On July 14, 2026, the Company consummated the previously announced Merger with HoldCo in accordance with the terms of the Merger Agreement. Pursuant to the Merger Agreement, XOMA Royalty effected the Holding Company Reorganization (as defined below) prior to giving effect to the Merger.

• Equity activityJun 25, 2026

  On June 22, 2026, concurrently with the pricing of the Notes, and June 23, 2026, concurrently with the initial purchasers' exercise of the option to purchase additional Notes, the Company entered into privately negotiated warrant transactions to sell to the Counterparties warrants (the "Warrants") to acquire, collectively, subject to customary anti-dilution adjustments, up to the same number of shares of Common Stock covered by the Purchased Options at an initial strike price of $524.3400 per share.

• Equity activityJun 22, 2026

  the Company issued a press release announcing the proposed offering of $550 million aggregate principal amount of convertible senior notes due 2031 (the "Notes") in a private placement (the "Offering") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.

• Shareholder meetingsJun 9, 2026

  The 2026 Annual Meeting of the Stockholders of Ligand Pharmaceuticals Incorporated (the "Company") was held on June 5, 2026 (the "Annual Meeting"). At the Annual Meeting, the Company's stockholders approved an amendment and restatement of the Company's 2002 Stock Incentive Plan.

• Deal agreementsMay 18, 2026

  on April 27, 2026, Ligand Pharmaceuticals Incorporated, a Delaware corporation ('Ligand'), entered into an Agreement and Plan of Merger (the 'Merger Agreement'), by and among Ligand, XOMA Royalty Corporation, a Nevada corporation ('XOMA Royalty'), and Flex Merger Sub, Inc., a Nevada corporation and wholly-owned subsidiary of Ligand ('Merger Sub'), pursuant to which, and upon the terms and subject to the conditions thereof, including, without limitation, effecting the Holding Company Reorganization (as defined below), Merger Sub will merge with and into a newly formed Nevada corporation, XOMA Royalty Holdings Corporation ('HoldCo'), (the 'Merger'), with HoldCo surviving the Merger as a wholly owned subsidiary of Ligand.

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Days to cover

8.7

Short interest

2.68M

Avg volume

306.65K

As of Sep 30, 2026 · reported to FINRA twice monthly.

• Ligand to Participate in September Investor Conferences
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• XOMA Royalty Corporation Declares Quarterly Preferred Stock Dividend and Announces Redemption of Its Perpetual Preferred Stock and CVR Dividend Record Date
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• Ligand Announces 2026 Investor Day in New York City
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