Ligand Pharmaceuticals Incorporated (LGND) Financial Statements (2024 and earlier)

Company Profile

Business Address 3911 SORRENTO VALLEY BLVD
SAN DIEGO, CA 92121
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 2834 - Pharmaceutical Preparations (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments211,870341,108411,1861,011,532718,381201,661
Cash and cash equivalents45,00619,52247,61971,543117,16420,620
Short-term investments166,864321,586363,567939,989601,217181,041
Restricted cash and investments    730  
Receivables35,03891,64659,06441,74855,85025,596
Inventory, net of allowances, customer advances and progress billings13,29427,32626,4877,2967,1244,373
Inventory13,29427,32626,4877,2967,1244,373
Derivative instruments and hedges, assets     22,576 
Other current assets3,3994,6713,8224,73420,4181,514
Other undisclosed current assets    57,60546,1913,877
Total current assets:263,601464,751500,5591,123,645870,540237,021
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization4,09516,20715,842 
Operating lease, right-of-use asset10,91416,5426,89210,353
Property, plant and equipment12,48220,51114,4347,1855,3724,212
Long-term investments and receivables     6,438
Long-term investments     6,438
Intangible assets, net (including goodwill)448,128732,246784,992305,677306,439314,543
Goodwill105,673181,206189,66295,22986,64685,959
Intangible assets, net (excluding goodwill)342,455551,040595,330210,448219,793228,584
Deferred income tax assets8,53034,48224,32025,608
Other noncurrent assets4,7362,7414,2672,3574714,859
Other undisclosed noncurrent assets10,18210,11010,97920,09077,981103,948
Total noncurrent assets:499,067832,839861,726371,270390,263434,000
TOTAL ASSETS:762,6681,297,5901,362,2851,494,9151,260,803671,021
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities20,98825,98222,31412,25623,3839,636
Accounts payable5,3078,4033,7842,4204,1832,259
Accrued liabilities15,68117,57918,5309,83619,2007,377
Deferred revenue 35510,99629,4352,139
Debt 76,740466,5931,24226,433224,529
Derivative instruments and hedges, liabilities     23,430 
Contract with customer, liability3,286
Other liabilities      
Other undisclosed current liabilities7274,64141,7691,3655,7174,703
Total current liabilities:98,81041,665100,11117,00282,249238,868
Noncurrent Liabilities
Long-term debt and lease obligation 5336,269448,048648,929609,864 
Long-term debt, excluding current maturities  320,717442,293638,959609,864 
Finance lease, liability 558112 
Liabilities, other than long-term debt62,91790,07295,46455,4179514,248
Deferred revenue and credits3,525
Deferred income tax liabilities30,61559,09564,59832,937
Other liabilities21,96630,97730,86622,480951723
Operating lease, liability10,33615,4945,6439,970
Other undisclosed noncurrent liabilities3,4518,4259,1376,3356,8259,258
Total noncurrent liabilities:66,373434,766552,649710,681617,64013,506
Total liabilities:165,183476,431652,760727,683699,889252,374
Equity
Equity, attributable to parent597,485821,159709,525767,232560,914399,788
Common stock171716172121
Additional paid in capital147,590372,969318,358367,326791,114798,205
Accumulated other comprehensive income (loss)(984)(917)(801)(216)(1,024)2,486
Retained earnings (accumulated deficit)450,862449,090391,952400,105(229,197)(400,924)
Total equity:597,485821,159709,525767,232560,914399,788
Other undisclosed liabilities and equity      18,859
TOTAL LIABILITIES AND EQUITY:762,6681,297,5901,362,2851,494,9151,260,803671,021

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues196,245277,133186,419120,282251,453141,102
Revenue, net110,755
Gain on disposition of assets for financial service operations     
Cost of revenue
(Cost of Goods and Services Sold)
(1,100)(47,167)(23,442)(16,864)(6,337)(12,120)
Gross profit:195,145229,966162,977103,418245,116128,982
Operating expenses(193,208)(198,238)(177,688)(126,003)(87,726)(73,026)
Other undisclosed operating income (loss)1,10047,16740,556829,6616,33712,120
Operating income:3,03778,89525,845807,076163,72768,076
Nonoperating income (expense)32,974(31,597)(36,383)(10,437)9,603(10,845)
Investment income, nonoperating30,586(3,111)(8,855)31,31813,999 
Other nonoperating income (expense)4,187(8,860)(108)(6,010)(6,307)5,183
Interest and debt expense4,192(7,303)(27,420)(35,745)(48,276) 
Other undisclosed income from continuing operations before equity method investments, income taxes   27,42035,74548,276 
Income (loss) from continuing operations before equity method investments, income taxes:40,20339,995(10,538)796,639173,33057,231
Income from equity method investments    2,888  
Other undisclosed income (loss) from continuing operations before income taxes(4,192)7,303    
Income (loss) from continuing operations before income taxes:36,01147,298(10,538)799,527173,33057,231
Income tax expense (benefit)(41,230)9,8407,553(167,337)(30,009)(44,675)
Income (loss) from continuing operations:(5,219)57,138(2,985)632,190143,32112,556
Income (loss) before gain (loss) on sale of properties:57,138(2,985)632,190143,32112,556
Other undisclosed net loss(28,142)  (2,888)  
Net income (loss):(33,361)57,138(2,985)629,302143,32112,556
Other undisclosed net loss attributable to parent      
Net income (loss) available to common stockholders, diluted:(33,361)57,138(2,985)629,302143,32112,556

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(33,361)57,138(2,985)629,302143,32112,556
Other comprehensive income (loss)     73(257)
Comprehensive income (loss):(33,361)57,138(2,985)629,302143,39412,299
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(67)(116)(585)808(921) 
Comprehensive income (loss), net of tax, attributable to parent:(33,428)57,022(3,570)630,110142,47312,299

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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