$LGND

Ligand Pharmaceuticals reported Q2 2026 results and discussed its XOMA Royalty acquisition, adding 120+ assets and extending cash flow duration through 2040. Management cited 32% YoY royalty revenue growth and expects 2026 royalty revenue of $225M-$250M with cash opex halved since 2022. Ligand issued a $700M zero-coupon convertible, raised 2026 adjusted EPS guidance to $9.00-$9.50, and expects accretion from XOMA in 2H26 and 2027.

LIGAND PHARMACEUTICALS INC (LGND) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.1 2 q22026earningsrelease_ex991.htm EX-99.1 Document Ligand Reports Second Quarter 2026 Financial Results Second quarter performance driven by strong year-over-year royalty revenue growth of 32% Raises Low End of 2026 Adjusted EPS Guidance; Revenue Guidance Unchanged Confer

Reardon Andrew (CLO & Secretary) sold 5,000 shares of LIGAND PHARMACEUTICALS INC (LGND) at an average of $288.99 ($284.14–$292.82, $1.44M total) across 10 trades on 2026-08-03 under a Rule 10b5-1 trading plan.

Wall Street futures rose Tuesday after major U.S. indices fell Monday. The article lists analyst rating changes and price targets for stocks including Adobe (ADBE) downgraded to Underweight with a $240 target, Salesforce (CRM) cut to Equal Weight with a $185 target, and Microsoft (MSFT) assumed Overweight with a $600 target. It also cites moves for Datadog, Fortinet, Five Below, Gilead, and others.

XOMA Royalty said Ligand Pharmaceuticals (Nasdaq: LGND) completed its acquisition of XOMA Royalty. Under the April 27 deal, XOMA shareholders received $39.00 cash per share and one non-transferable CVR per share tied to 75% of net proceeds from certain pending litigation. XOMA shares no longer trade on Nasdaq.

Ligand Pharmaceuticals (Nasdaq: LGND) completed its acquisition of XOMA Royalty for $39.00 per share in cash, totaling about $739 million equity value, plus one CVR per share tied to 75% of net litigation proceeds. The deal adds seven commercial products and 100+ development assets, expanding its portfolio to 200+ royalties. Expected EPS accretion: +$0.50 (2026) and +$1.50 (2027).

LIGAND PHARMACEUTICALS INC (LGND) filed an SEC Form 8-K — Completion of Acquisition or Disposition of Assets. 8-K LIGAND PHARMACEUTICALS INC false 0000886163 0000886163 2026-07-14 2026-07-14 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest

The article lists five “upside” stock calls from Wall Street. JPMorgan initiated CECO Environmental (CECO) with a $130 target, citing AI data center demand and Thermon. It also targets PRM at $50. Goldman upgraded Toast (TOST) to Buy at $36. BofA raised Ligand (LGND) target to $388. Revolution Medicines (RVMD) reported Phase 3 pancreatic cancer results for daraxonrasib, with median OS 13.2 vs 6.7 months.

Reardon Andrew (CLO & Secretary) sold 5,000 shares of LIGAND PHARMACEUTICALS INC (LGND) at an average of $313.28 ($308.99–$317.15, $1.57M total) across 8 trades on 2026-07-01 under a Rule 10b5-1 trading plan.

LIGAND PHARMACEUTICALS INC (LGND) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. EX-4.1 2 d167360dex41.htm EX-4.1 EX-4.1 Exhibit 4.1 LIGAND PHARMACEUTICALS INCORPORATED AND U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee INDENTURE Dated as of June 25, 2026 0.00% Convertible Senior Notes due 2031 TABLE OF CONTENTS Page ARTICLE 1 Definitions Section 1