Ligand Q1 GAAP net loss narrows to $13.3 million; revenue rises 14% to $51.7 million

• Ligand Pharmaceuticals posted a GAAP net loss of $13.3 million, or $0.67 per share, for first-quarter 2026, narrowing from a loss of $42.5 million, or $2.21 per share, a year earlier.
• Revenue rose 14% to $51.7 million, while royalty revenue climbed 56% to $43 million.
• Captisol sales fell to $8.7 million from $13.5 million, while non-operating expense widened to $41.6 million on a $49.2 million non-cash loss tied to Pelthos investments.
• Cash, cash equivalents, and short-term investments totaled $779.4 million at March 31.
• Guidance was reaffirmed for 2026 adjusted earnings per diluted share of about $8.50 to $9.50, with royalty revenue of $225 million to $250 million as Ligand targets a third-quarter close for its $39 per share cash acquisition of XOMA Royalty.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ligand Pharmaceuticals Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000886163-26-000030), on May 07, 2026, and is solely responsible for the information contained therein.