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LGND

Ligand Pharmaceuticals Incorporated

Ligand Pharmaceuticals Incorporated is classed by the SEC under Pharmaceutical Preparations (industry code 2834), based in San Diego, CA. In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $268 million and a profit of $124 million (its filed statements).

Product business Pharmaceutical Preparations San Diego, CA filings since 1994 9 of 9 filed
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6.2/10headline grade
vs its business-model standard
5.5/10past 6.9/10present 5.9/10future

Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a product business: prior from its industry code (SEC 2834, Pharmaceutical Preparations); the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.

The grade, in three tenses

Headline 6.2 out of ten, 9 of 9 metrics filed: past 5.5 out of ten, present 6.9 out of ten, future 5.9 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

  • Surviving crises (past): 5.0 out of ten. 1 warning event since 2017; the latest 2018-04-13. 50th percentile among 497 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Track record (past): 6.1 out of ten. +10.5% a year over 10 filed years; profitable in 6 of 10. 61st percentile among 324 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Shareholder treatment (past): 5.2 out of ten. Share count grew 6.4% a year. 8% of cash flow returned. Insiders: 131 sales, 0 purchases. 52nd percentile among 80 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Financial health (present): 6.6 out of ten. ROE 12%: 12¢ of profit per shareholder dollar. Leverage 35%: owes 35¢ per asset dollar. 66th percentile among 472 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Industry position (present): 7.4 out of ten. top 26% of 314 in its family; net margin 46.4%. 74th percentile among 314 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Leadership (present): 6.9 out of ten. top 31% of 315 in its family for leadership; chief executive since 2022. 69th percentile among 315 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-09).
  • Room to expand (future): 4.9 out of ten. bottom 49% of 272 in its family for room to expand. 49th percentile among 272 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Growth drivers (future): 6.0 out of ten. top 40% of 307 in its family for growth drivers. 60th percentile among 307 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Expectations vs reality (future): 8.1 out of ten. top 20% of 234 in its family for expectations against reality. 80th percentile among 234 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).

The filing record

Newest annual report: Form 10-K filed 2026-02-27 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-08-07 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-08-06 (on EDGAR). Newest filing: Form 4, 2026-10-06. Filings on record since 1994. Read from EDGAR 2026-10-12.

Where the revenue comes from

Product and service lines in fiscal 2025: Material Sales Captisol 15%, Material Sales Captisol Core 15%, Royalty Kyprolis 13%, Filspari 12%, Financial Royalty Assets 11%, QARZIBA 9%. As tagged in its annual report (Form 10-K, filed 2026-02-27).

Who runs it

Davis, Todd C (Chief Executive Officer); Espinoza, Octavio (Chief Financial Officer); Reardon, Andrew (CLO & Secretary); Zimmermann, Martine (director); Haas, Jason (director); Sabba, Stephen L (director); Aryeh, Jason (director); Lamattina, John L (director); Gray, Nancy Ryan (director); Kozarich, John W (director). 10 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-10-06.

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