Jun 2026 (Q2 FY26) — Aug 6, 2026
Ligand Q2 FY26 — XOMA Acquisition and Strong Royalty Growth Drive EPS Outlook Increase
Read the full callLigand (LGND) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Ligand earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 63.7 | +33.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 13.5 | −4.2 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 48.5 | +900.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Price
$297.28 +0.59% · +$1.74
Performance +63.7% 1Y
1Y: $181.65 on 17 Oct 2025 → $297.28. High $322.61 (9 Jul 2026), low $181.65 (17 Oct 2025).
- Previous close
- $295.54
- 52-week range
- $181.65 – $322.61
- One year
- +59.19%
Overview
- Symbol
- LGND
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
Ligand Q1 FY26 — XOMA Acquisition and Key Product Milestones Drive Growth
Read the full callDec 2025 (Q4 FY25) — Feb 26, 2026
Ligand Pharmaceuticals Q4 FY25 — Strong Royalty Growth and Reaffirmed 2026 Guidance
Read the full callEvery analysed call
Ligand earnings calls (LGND)
Financials
What the filings say
Net profit, year on year: +901% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 52 | 43 | 45 | 48 | 115 | 60 | 52 | 64 |
| Operating profit | 3 | -10 | -36 | 8 | 55 | 14 | 17 | 9 |
| Operating margin | 6.1% | −22.5% | −79.9% | 17.7% | 47.6% | 23.2% | 33.6% | 13.5% |
| Other income | -9 | -30 | -14 | 3 | 86 | 43 | -42 | 56 |
| Interest | 1 | — | 1 | 1 | 1 | 2 | 2 | 2 |
| Profit before tax | -6 | -39 | -50 | 11 | 141 | 57 | -24 | 64 |
| Tax rate | −13.1% | 20.7% | 15.4% | 56.8% | 16.9% | 21.1% | 45.0% | 24.6% |
| Net profit | -7 | -31 | -42 | 5 | 117 | 45 | -13 | 49 |
| EPS ($ per share) | -0.39 | — | -2.21 | 0.25 | 5.99 | — | -0.67 | 2.42 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | -229 | 400 | 392 | 449 | 451 | 503 | 499 | 608 |
| Total liabilities | 700 | 728 | 653 | 476 | 165 | 86 | 111 | 543 |
| Fixed assets | 5 | 7 | 13 | 13 | 12 | 16 | 15 | 4 |
| Investments | 601 | 998 | 364 | 322 | 167 | 147 | 184 | 559 |
| Total assets | 1,261 | 1,495 | 1,362 | 1,298 | 763 | 787 | 942 | 1,561 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 194 | -29 | 55 | 79 | 138 | 50 | 97 | 49 |
| Cash from investing | -423 | 467 | 232 | 31 | 164 | -12 | -144 | -377 |
| Cash from financing | 329 | -485 | -311 | -138 | -276 | -60 | 97 | 428 |
| Net cash flow | — | — | — | — | 25 | -22 | 49 | 103 |
| Capital expenditure | -1 | -3 | -4 | -9 | -18 | -4 | -2 | -0 |
| Free cash flow | 193 | -32 | 50 | 70 | 120 | 46 | 95 | 49 |
LGND revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Development and Licensing Of Biopharmaceutical Assets | — | — | 100% | 100% | 100% | 100% | 100% | 100% | +33.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
205 filings between Nov 3, 2025 and Oct 2, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$34.73M
131 sales by 9 insiders
85% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 16
- Award — granted as compensation
- 35
- Option exercise — converted options into shares
- 18
- Tax withheld — shares kept back by the company to cover tax
Also filed: 4 other filings, 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Espinoza Octavio | — | $13.03M | Aug 12, 2026 |
| Reardon Andrew | — | $10.29M | Oct 2, 2026 |
| Haas Jason | — | $3.74M | Aug 12, 2026 |
| LAMATTINA JOHN L | — | $2.44M | Jun 10, 2026 |
| Gray Nancy Ryan | — | $1.35M | Nov 7, 2025 |
| Aryeh Jason | — | $1.25M | Jun 11, 2026 |
| Sabba Stephen L | — | $1.16M | Jun 16, 2026 |
| KOZARICH JOHN W | — | $1.11M | May 13, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 2, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 17 | $5.2K |
| Oct 2, 2026 | Reardon Andrew CLO & Secretary | Option exercise 10b5-1 plan | 340 | $17.8K |
| Oct 2, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 1,535 | $467.4K |
| Oct 2, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 1,976 | $599.8K |
| Oct 2, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 404 | $123.7K |
| Oct 2, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 235 | $72.2K |
| Oct 2, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 833 | $252.0K |
| Sep 22, 2026 | Zimmermann Martine Director | Tax withheld | 115 | $34.3K |
| Sep 10, 2026 | Zimmermann Martine Director | Sale | 1,200 | $342.0K |
| Sep 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 2,115 | $605.6K |
| Sep 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 400 | $115.6K |
| Sep 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 385 | $110.7K |
| Sep 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 300 | $85.2K |
| Sep 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 1,800 | $513.3K |
| Aug 12, 2026 | Espinoza Octavio Chief Financial Officer | Option exercise 10b5-1 plan | 3,348 | $230.1K |
| Aug 12, 2026 | Espinoza Octavio Chief Financial Officer | Option exercise 10b5-1 plan | 16,179 | $854.9K |
| Aug 12, 2026 | Espinoza Octavio Chief Financial Officer | Option exercise 10b5-1 plan | 7,171 | $410.3K |
| Aug 12, 2026 | Haas Jason Director | Option exercise | 6,138 | $316.5K |
| Aug 12, 2026 | Espinoza Octavio Chief Financial Officer | Option exercise 10b5-1 plan | 2,869 | $159.9K |
| Aug 12, 2026 | Espinoza Octavio Chief Financial Officer | Option exercise 10b5-1 plan | 2,074 | $145.3K |
| Aug 12, 2026 | Haas Jason Director | Sale | 7,138 | $2.09M |
| Aug 12, 2026 | Espinoza Octavio Chief Financial Officer | Sale 10b5-1 plan | 31,641 | $9.24M |
| Aug 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 356 | $102.8K |
| Aug 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 1,214 | $349.4K |
| Aug 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 1,032 | $296.0K |
| Aug 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 157 | $44.9K |
| Aug 3, 2026 | Reardon Andrew CLO & Secretary | Option exercise 10b5-1 plan | 5,000 | $261.4K |
| Aug 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 33 | $9.4K |
| Aug 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 105 | $29.8K |
| Aug 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 409 | $119.8K |
| Aug 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 991 | $289.1K |
| Aug 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 200 | $58.1K |
| Aug 3, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 503 | $145.8K |
| Jul 1, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 600 | $190.3K |
| Jul 1, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 900 | $284.2K |
| Jul 1, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 100 | $31.5K |
| Jul 1, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 700 | $219.4K |
| Jul 1, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 1,081 | $337.6K |
| Jul 1, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 1,119 | $348.8K |
| Jul 1, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 396 | $122.4K |
| Jul 1, 2026 | Reardon Andrew CLO & Secretary | Sale 10b5-1 plan | 104 | $32.3K |
| Jul 1, 2026 | Reardon Andrew CLO & Secretary | Option exercise 10b5-1 plan | 5,000 | $261.4K |
| Jun 30, 2026 | Reardon Andrew CLO & Secretary | Other 10b5-1 plan | 132 | $21.2K |
| Jun 30, 2026 | Espinoza Octavio Chief Financial Officer | Other | 17 | $2.7K |
| Jun 30, 2026 | Davis Todd C Chief Executive Officer | Other | 132 | $21.2K |
| Jun 16, 2026 | Sabba Stephen L Director | Option exercise | 2,145 | $141.8K |
| Jun 16, 2026 | Sabba Stephen L Director | Sale | 2,145 | $544.8K |
| Jun 12, 2026 | Haas Jason Director | Sale | 3,461 | $886.3K |
| Jun 12, 2026 | Haas Jason Director | Sale | 3,000 | $765.0K |
| Jun 12, 2026 | Haas Jason Director | Option exercise | 1,000 | $51.6K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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