Ligand (LGND) Q2 FY26 earnings call

Ligand Pharmaceuticals delivered a strong second quarter, marked by significant royalty revenue growth and a substantial increase in adjusted EPS. The company successfully closed the XOMA Royalty acquisition and completed a $700 million convertible note offering, materially strengthening its financial position and diversifying its portfolio. Management highlighted a robust pipeline of catalysts and an updated long-term outlook will be provided at Investor Day in December.