LGND

In the past six months (April-October 2026), Ligand acquired XOMA Royalty on July 14, 2026, which is expected to double its royalty portfolio and be immediately accretive to adjusted EPS. On June 25, 2026, Ligand issued $700.0 million in convertible senior notes due 2031 to enhance financial flexibility. The company fulfilled a $15 million payment to Orchestra BioMed on May 6, 2026. Ligand reported strong second-quarter 2026 financial results on August 6, 2026, with total revenue and income rising 34% year-over-year to $63.7 million, driven by a 32% increase in royalty revenue, and adjusted net income of $50.8 million ($2.37 per diluted share), surpassing analyst projections and leading to an upward revision of its 2026 adjusted EPS guidance to $9.00–$9.50. In September 2026, Ligand entered a financing agreement with AvenCell Therapeutics for up to $47 million to advance CAR-T therapies and acquired royalty and milestone interests in Santen's Ryjunea from Sydnexis for $23 million. On October 2, 2026, the Chief Legal Officer sold 5,000 shares of common stock for over $1.5 million under a pre-arranged trading plan, following a 70% surge in LGND shares over the past year.