Ligand Reports Third Quarter 2026 Financial Results
Ligand reported Q3 2026 royalty revenue of $70.3 million, up 51% year-over-year, driven by the XOMA Royalty portfolio and momentum in Filspari and Ohtuvayre royalties. The headline was mixed: total revenues and income fell 32% to $78.7 million only because the prior year included $53.1 million of Pelthos divestiture income (up 26% excluding it), while GAAP results swung to a net loss of $28.5 million and adjusted EPS declined 14% to $2.67 on XOMA integration costs and mark-to-market losses.
Key figures
- Eps
- -1.43 (GAAP net loss per share)
- Revenue
- 78746000
- Guidance
- FY2026 adjusted diluted EPS $9.50-$9.75, raised from $9.00-$9.50; total revenue $270M-$310M and royalty revenue $225M-$250M reaffirmed
- Revenue Yoy
- -32% (26% increase excluding $53.1M prior-year Pelthos divestiture income)
- Adjusted eps q3
- 2.67
- Captisol sales q3
- 7900000
- Deployable capital
- $750 million
- Royalty revenue q3
- 70300000
- Royalty revenue yoy
- 51%
- Ytd royalty revenue
- 161300000
- Adjusted net income q3
- 57500000
- Ytd royalty revenue yoy
- 46%
- Adjusted eps q3 prior year
- 3.09
- Cash and short term investments
- 447400000
AI analysis
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