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Ligand Pharmaceuticals LGND Q3 2026 earnings

Reported October 29, 2026 · Before market open

Revenue$78.7MBeat by $1.7M
EPS$2.67Beat by $0.34
Revenue estimate$77.0M
EPS estimate$2.33
“Ligand delivered another strong quarter, with royalty revenue growing 51% year-over-year, driven by contribution from the XOMA portfolio and continued commercial momentum across our key royalty assets, including Filspari. We also continued to put capital to work in differentiated assets, acquiring a royalty interest in Santen's Ryjunea and entering into a structured financing agreement with AvenCell Therapeutics to advance its next-generation CAR-T pipeline. With a strong balance sheet and a portfolio of over 200 assets, we are well positioned to continue executing our royalty aggregation strategy, and we look forward to sharing an updated five-year outlook at our investor day on December 8th.”
Todd Davis

Next report

Date not yet announced

Financials

Q3 2026

Income statement

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Revenue$78.7M-31.8%
Operating income-$15.8M-129%
Net income-$28.5M-124%
EPS (diluted)-$1.43-125%

Balance sheet

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Cash & equivalents$56.0M-59.9%
Total debt$474.3M+8,517%
Total equity$961.8M+1.2%
Total assets$2.2B+51.5%

Cash flow

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CapEx$142.0K+847%

Valuation & ratios

Valuation

as of 10/30/26
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Market cap$6.33B+73.5%
Enterprise value$6.74B+92.0%
P/E122.9×+47.9×
P/S24.9×+10.4×

Profitability

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Operating margin9.5%+2.5pp
Net margin20.3%+0.9pp

Returns & leverage

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Return on equity5.4%0.0pp
Debt / equity0.5×+0.5×
Current ratio1.2×-23.5×

Segments

By product

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Filspari$16.8M+85.5%
Kyprolis$10.5M—
Captisol$7.9M—
Qarziba$6.0M-0.4%
Capvaxive$3.8M+18.6%

By segment

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Development and Licensing of Biopharmaceutical Assets$78.7M-31.8%

FAQ

When did Ligand Pharmaceuticals report Q3 2026 earnings?
Ligand Pharmaceuticals (LGND) reported Q3 2026 earnings on October 29, 2026 before market open.
What were Ligand Pharmaceuticals's Q3 2026 revenue and EPS?
Ligand Pharmaceuticals reported revenue of $78.7M and eps of $2.67 for Q3 2026.
Did Ligand Pharmaceuticals beat estimates in Q3 2026?
Revenue beat the consensus estimate of $77.0M by $1.7M. EPS beat the consensus estimate of $2.33 by $0.34.
How did Ligand Pharmaceuticals's Q3 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 31.8% from $115.5M a year earlier and eps declined 13.6% from $3.09.
Where can I find Ligand Pharmaceuticals's Q3 2026 SEC filings?
You can read the 8-K earnings release (0000886163-26-000058) and the 10-Q periodic report (0000886163-26-000060) directly on SEC EDGAR. The filing index links above go to sec.gov.