LIGAND PHARMACEUTICALS INC
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $268.1M | $167.1M | $131.3M | $196.2M | $241.5M |
| Research and development | $81.2M | $21.4M | $24.5M | $36.1M | $32.1M |
| Operating income | $41.0M | -$22.6M | $11.9M | $3.0M | $103.9M |
| Interest expense | $4.7M | $3.0M | $656,000 | $1.8M | $19.6M |
| Pretax income | $159.0M | $2.5M | $63.7M | $36.0M | $72.2M |
| Income tax expense | $34.5M | $6.5M | $9.8M | $41.2M | -$4.1M |
| Net income | $124.5M | -$4.0M | $52.2M | -$33.4M | $57.1M |
| Balance Sheet | |||||
| Cash and equivalents | $174.9M | $72.3M | $23.0M | $45.0M | $19.5M |
| Current assets | $832.3M | $331.6M | $237.4M | $263.6M | $464.8M |
| Total assets | $1.6B | $941.8M | $787.2M | $762.7M | $1.3B |
| Current liabilities | $37.4M | $37.1M | $16.8M | $98.8M | $41.7M |
| Total liabilities | $543.4M | $111.3M | $86.3M | $165.2M | $476.4M |
| Stockholders' equity | $1.0B | $830.4M | $700.9M | $597.5M | $821.2M |
| Cash Flow Statement | |||||
| Cash from operations | $49.4M | $97.0M | $49.6M | $137.8M | $78.8M |
| Depreciation and amortization | $33.8M | $35.2M | $36.5M | $51.5M | $51.1M |
| Stock-based compensation | $46.8M | $41.1M | $25.7M | $60.3M | $38.8M |
| Capital expenditure | $452,000 | $1.8M | $3.5M | $17.9M | $8.8M |
| Free cash flow | $48.9M | $95.2M | $46.1M | $119.9M | $70.0M |
| Share repurchases | $15.0M | $0 | $0 | $0 | $0 |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 20.0M · Free float 48.6%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.