Can Ligand Pharmaceuticals cover its short-term obligations?

Its current ratio is 21.28 — current assets exceed current liabilities.

Where does Ligand Pharmaceuticals's balance sheet data come from?

Every line is extracted from Ligand Pharmaceuticals's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.

Ligand Pharmaceuticals LGND Balance Sheet Statement

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Cash and cash equivalents	$115.09M+140%	$174.93M+142%	$139.38M+119%	$67.67M+273%	$47.99M-4.2%
Short-term investments	$664.33M+313%	$558.59M+204%	$525.15M+237%	$177.35M-15.1%	$160.91M-38.2%
Restricted cash	$17K—	——	——	——	$0—
Accounts receivable, net	$53.38M+38.7%	$59.6M+55.3%	$57.56M+67.7%	$41.29M+10.2%	$38.49M+35.4%
Inventories	$13.27M-9.2%	$9.13M-35.3%	$11.9M-28.9%	$15.49M-17.0%	$14.61M-31.5%
Income taxes receivable	$1.42M-67.4%	$1.45M-64.5%	$536K-93.1%	$828K—	$4.34M—
Derivative assets	$14.8M—	$15.63M—	——	——	——
Total current assets	$865.42M+180%	$832.27M+151%	$753.92M+144%	$352.95M+13.0%	$309.32M-16.2%
Property and equipment, net	$3.44M-4.9%	$3.57M-76.4%	$3.47M-77.0%	$3.63M-75.7%	$3.62M-76.1%
Operating lease right-of-use assets	$6.83M-0.5%	$7.22M-25.3%	$7.61M+6.3%	$7.99M+7.9%	$6.87M+14.0%
Goodwill	$101.54M0.0%	$101.54M-3.5%	$101.54M-3.5%	$101.54M-3.5%	$101.54M-3.5%
Intangible assets, net	$217.34M-15.9%	$225.44M-15.5%	$233.54M-15.0%	$250.13M-11.7%	$258.39M-11.3%
Deferred tax assets	$22.61M-23.0%	$36.02M+10.7%	$22.67M-51.1%	$32.25M+7.0%	$29.38M-41.9%
Other non-current assets	$12.99M+64.6%	$12.58M-60.3%	$2.77M-67.0%	$9.11M-23.6%	$7.89M-29.7%
Equity method investments	$31.52M—	$46.5M—	$42M+3,273%	——	——
Available-for-sale securities	$237M+4,934%	——	$195.19M+4,093%	$6.08M-56.6%	$4.71M-74.3%
Held-to-maturity securities	$588.75M+354%	——	$477.01M+398%	$142.9M+85.6%	$129.65M+1.3%
Total assets	$1.53B+69.2%	$1.56B+65.7%	$1.48B+54.7%	$948.6M+9.5%	$905.44M-0.9%
Accounts payable	$5.26M-1.9%	$3.24M-38.1%	$3.68M-21.6%	$8.58M+379%	$5.37M+183%
Accrued expenses	$3.55M+87.9%	$6.39M+391%	$3.7M-3.5%	$2.51M-6.4%	$1.89M-0.7%
Deferred revenue	$621K+515%	$621K0.0%	$621K-46.1%	$111K-90.7%	$101K-91.8%
Operating lease liabilities, current	$1.09M+26.7%	$1.1M-13.5%	$1.09M+2.2%	$1.09M-5.8%	$859K-14.1%
Accrued interest	$2.19M—	$1.31M—	——	——	——
Total current liabilities	$40.67M-30.7%	$37.45M+0.9%	$30.54M+23.3%	$64.73M+249%	$58.68M+229%
Operating lease liabilities, non-current	$3.99M+12.0%	$4.2M-27.7%	$4.42M-29.6%	$4.63M-27.8%	$3.57M-31.3%
Finance Lease Liabilities (Total)	——	$50K-31.5%	——	——	——
Other non-current liabilities	$17.12M+20.1%	$16.63M-44.9%	$19.91M-33.3%	$14.37M-51.0%	$14.25M-48.7%
Total liabilities	$3.94M-96.4%	$3.22M-97.1%	$526.6M+363%	$120.08M+31.7%	$109.9M+2.4%
Preferred stock	$0—	$0—	$0—	$0—	$0—
Common stock	60M0.0%	60M+299,900%	60M0.0%	60M0.0%	60M0.0%
Additional paid-in capital	$397.17M+16.6%	$400.65M+18.8%	$362.61M+17.2%	$358.64M+50.1%	$340.54M+56.0%
Retained earnings	$594.74M+30.3%	$608.09M+21.9%	$578.22M+9.1%	$461.38M-14.1%	$456.53M-22.5%
Accumulated other comprehensive income (loss)	$5.39M+445%	$8.46M+242%	$9.32M+434%	$8.49M+1,008%	-$1.56M-71.8%
Total stockholders' equity	$997.32M+25.4%	$1.02B+22.5%	$950.17M+13.0%	$827.31M+6.7%	$795.59M-1.4%
Total liabilities and stockholders' equity	$1.53B+69.2%	$1.56B+65.7%	$1.48B+54.7%	$948.6M+9.5%	$905.44M-0.9%
Available-for-Sale Debt Securities - Amortized Cost	$607.54M+349%	$503.29M+232%	$492.07M+397%	$150.73M-7.0%	$135.18M-26.6%
Available-for-Sale Debt Securities - Amortized Cost (Due Within One Year)	$351.28M+181%	——	$281.82M+209%	$136.82M+117%	$124.95M+14.0%
Available-for-Sale Debt Securities - Amortized Cost (<1 Year)	$351.28M+181%	——	$281.82M+209%	$136.82M+117%	$124.95M+14.0%
Available-for-Sale Debt Securities - Fair Value by Maturity	$588.06M+354%	——	$477.06M+398%	$142.86M+85.7%	$129.66M+1.4%
Available-for-Sale Debt Securities - Fair Value (Maturing Within 1 Year)	$351.07M+181%	——	$281.87M+209%	$136.78M+117%	$124.95M+14.0%
Available-for-Sale Debt Securities - Single Maturity Date	$588.06M+354%	——	$477.06M+398%	$142.86M+85.7%	$129.66M+1.4%
Available-for-Sale Debt Securities - Unrealized Loss Position	$800K+3,900%	——	$170K+1,600%	$60K-40.0%	$20K-80.0%
Cash, Cash Equivalents, and Marketable Securities	$664.33M+386%	$558.59M+204%	$525.15M+466%	$150.85M-3.2%	$136.76M-23.4%
Derivatives	$1.27M—	$0—	——	——	——
Short-term portion of financial royalty assets, net	$12.15M—	$22.79M+127%	$12.42M—	$10.28M—	——
Other current assets	$5.8M-56.4%	$5.79M-34.3%	$6.99M-64.6%	$4.82M-32.4%	$13.29M+81.7%
Derivative Assets, Current	$1.27M—	$0—	——	——	——
Deferred Tax Assets and Other Non-Current Assets	$12.99M+64.6%	$12.58M-60.3%	$2.77M-67.0%	$9.11M-23.6%	$7.89M-29.7%
Derivative Assets, Non-Current	$13.53M-25.0%	$15.63M+47.7%	$9.35M-51.4%	$17.96M-48.0%	$18.03M—
Goodwill and Intangible Assets, Net	$318.88M-11.4%	$326.98M-12.1%	$335.08M-11.9%	$351.67M-9.5%	$359.93M-9.3%
Investments - Amortized Cost Basis	$607.54M+349%	$503.29M+232%	$492.07M+397%	$150.73M-7.0%	$135.18M-26.6%
Net Investment in Lease	$6.83M-0.5%	$7.22M-25.3%	$7.61M+6.3%	$7.99M+7.9%	$6.87M+14.0%
Deferred tax assets	$8.47M+1,452%	$8.35M+11,490%	$9.53M+12,113%	$829K+336%	$546K—
Long-term portion of financial royalty assets, net	$193.54M+2.8%	$196.88M+6.4%	$206.33M+3.6%	$193.56M+140%	$188.32M+187%
Intangible assets — net	$217.34M-15.9%	$225.44M-15.5%	$233.54M—	$250.13M—	$258.39M—
Other intangible assets—net	$217.34M-15.9%	$225.44M-15.5%	$233.54M-15.0%	$250.13M-11.7%	$258.39M-11.3%
Goodwill and intangible assets, net	$318.88M-11.4%	$326.98M-12.1%	$335.08M-11.9%	$351.67M-9.5%	$359.93M-9.3%
Operating lease right-of-use assets	$6.83M-0.5%	$7.22M-25.3%	$7.61M+6.3%	$7.99M+7.9%	$6.87M+14.0%
Other non-current assets	$12.99M+64.6%	$12.58M-60.3%	$2.77M-67.0%	$9.11M-23.6%	$7.89M-29.7%
Short-term investment securities (includes restricted investments of consolidated variable interest entities: 2026, $85; 2025, $84)	$664.33M+313%	$558.59M+204%	$525.15M+237%	$177.35M-15.1%	$160.91M-38.2%
Operating Lease Right-of-Use Assets in Other Assets	$6.83M-0.5%	$7.22M-25.3%	$7.61M+6.3%	$7.99M+7.9%	$6.87M+14.0%
Other Investments	$87.77M+705%	$121.45M+1,013%	$106.72M+878%	$10.91M+1.6%	$10.91M-70.1%
Software and Technology Licenses, Net	$12.99M+64.6%	$12.58M-60.3%	$2.77M-67.0%	$9.11M-23.6%	$7.89M-29.7%
Accrued Manufacturing Costs	$3.55M+87.9%	$6.39M+15.7%	$3.7M-3.5%	$2.51M-6.4%	$1.89M-0.7%
Accrued Royalties (Current)	$18.03M+136%	$16.2M+149%	$12.32M+312%	$5.63M+230%	$7.63M+510%
Other Commercial Liabilities	$31.85M+35.3%	$31.45M+12.7%	$24.08M+54.4%	$17.46M+43.5%	$23.54M+89.4%
Accrued Liabilities, Current	$31.85M+35.3%	$31.45M+12.7%	$24.08M+54.4%	$17.46M+43.5%	$23.54M+89.4%
Current contingent liabilities	$277K-81.3%	$287K+39.3%	$268K+109%	$1.47M+903%	$1.48M+1,069%
Compensation and benefits	$3.55M+87.9%	$6.39M+15.7%	$3.7M-3.5%	$2.51M-6.4%	$1.89M-0.7%
Other accrued liabilities	$300K—	$135K-89.6%	$135K—	——	——
Professional Service Fees Payable	$2.74M-49.5%	$2M-58.9%	$2.06M-37.4%	$4.51M+31.6%	$5.43M+98.4%
Total debt	$5.08M+14.2%	$5.35M-25.5%	$5.5M-25.2%	$5.74M-24.3%	$4.45M-28.2%
Unrecognized Tax Benefits	$17.08M+20.4%	$16.59M+17.1%	$19.87M+37.2%	$14.32M-1.1%	$14.19M+1.0%
Common Stock Par Value Per Share	$0.000.0%	$0.000.0%	$0.000.0%	$0.000.0%	$0.000.0%
Common Stock Shares Issued	20M+3.9%	19.8M+3.5%	19.7M+4.8%	19.4M+7.2%	19.3M+7.5%
Convertible Preferred Stock Authorized Shares	5M0.0%	5M0.0%	5M0.0%	5M0.0%	5M0.0%
Convertible Preferred Stock Issued Shares	0—	0—	0—	0—	0—
Convertible Preferred Stock Outstanding Shares	0—	0—	0—	0—	0—
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	$20K0.0%	$20K0.0%	$20K+5.3%	$20K+5.3%	$20K+11.1%
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding	$0—	$0—	$0—	$0—	$0—
Number of Exercisable Options	1.1M-15.4%	——	1.1M-21.4%	1.3M-13.3%	1.3M-18.8%
Preferred Stock Par Value Per Share	$0.000.0%	$0.000.0%	$0.000.0%	$0.000.0%	$0.000.0%
Share-Based Payment Award Options Outstanding - Number	2.2M-12.1%	2M-10.1%	2.1M-16.8%	2.4M-13.7%	2.5M-13.1%
Unrealized Gains on Investments	$60.71M+1,667%	$59.2M+52.3%	$36.9M+42,318%	$2.1M+16,015%	$3.44M+16,257%
Unrealized Losses on Investments (Before Tax)	$3.92M+111%	$3.89M-41.2%	$3.83M-39.5%	$1.97M-68.8%	$1.85M-68.1%
Weighted Average Exercise Price of Outstanding Options	$101.43+24.5%	$84.48+12.4%	$84.22+14.6%	$82.65+13.8%	$81.45+14.1%
Components	194+488%	——	73+128%	61-21.8%	33-69.7%
Cumulative Cost Basis	$607.54M+349%	$503.29M+232%	$492.07M+397%	$150.73M-7.0%	$135.18M-26.6%
Fair Value Measurement Disclosure	$352K-9.3%	$395K+3.1%	$390K+74.9%	$351K+33.0%	$388K+78.0%
Gross Assets/Liabilities	$167K—	$0—	——	——	——
Professional service fees	$2.74M-49.5%	$2M-58.9%	$2.06M-37.4%	$4.51M+31.6%	$5.43M+98.4%
Accrued Royalties	$18.03M+136%	$16.2M+149%	$12.32M+312%	$5.63M+230%	$7.63M+510%
Subcontractor	$1.76M0.0%	$1.76M0.0%	$1.76M0.0%	$1.76M0.0%	$1.76M0.0%
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	$3.92M+111%	$3.89M-41.2%	$3.83M-39.5%	$1.97M-68.8%	$1.85M-68.1%
Gross Unrealized Gains	$60.71M+1,667%	$59.2M+52.3%	$36.9M+42,318%	$2.1M+16,015%	$3.44M+16,257%
Total	$607.54M+349%	$503.29M+232%	$492.07M+397%	$150.73M-7.0%	$135.18M-26.6%
1 Year or Less	$351.07M+181%	——	$281.87M+209%	$136.78M+117%	$124.95M+14.0%
After 1 Year through 5 Years	$237M+4,934%	——	$195.19M+4,093%	$6.08M-56.6%	$4.71M-74.3%
Available for sale investments	$664.33M+386%	$558.59M+204%	$525.15M+466%	$150.85M-3.2%	$136.76M-23.4%
Common stock, par value (in dollars per share)	$00.0%	$00.0%	$00.0%	$00.0%	$00.0%
Common stock, shares authorized (in shares)	$60M0.0%	$60M0.0%	$60M0.0%	$60M0.0%	$60M0.0%
Common stock, shares issued (in shares)	$20.03M+3.9%	$19.77M+3.5%	$19.66M+4.8%	$19.41M+7.2%	$19.28M+7.5%
Common Stock, Shares, Outstanding	$20.03M+3.9%	$19.77M+3.5%	$19.66M+4.8%	$19.41M+7.2%	$19.28M+7.5%
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	$800K+3,900%	——	$170K+1,600%	$60K-40.0%	$20K-80.0%
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	$194+488%	——	$73+128%	$61-21.8%	$33-69.7%
Deferred income taxes	$22.61M-23.0%	$36.02M+10.7%	$22.67M-51.1%	$32.25M+7.0%	$29.38M-41.9%
Derivatives	$13.53M-25.0%	$15.63M+47.7%	$9.35M-51.4%	$17.96M-48.0%	$18.03M—
Derivative Liability	$167K—	$0—	——	——	——
Equity method investments (Note 11)	$31.52M—	$46.5M—	$42M+3,273%	——	——
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value	$5.21M-71.1%	$4.99M-52.9%	$9.35M-69.2%	$17.96M-67.1%	$18.03M+384%
Financial Royalty Assets, Allowance	$2.72M-15.3%	$2.71M-23.5%	$2.96M-33.3%	$2.79M-23.3%	$3.21M-36.5%
Gross carrying value	$208.4M+3.4%	$222.38M+12.0%	$221.7M+5.4%	$206.62M+142%	$201.62M+175%
Financial Royalty Assets, Net	$205.69M+3.7%	$219.67M+12.6%	$218.75M+6.3%	$203.83M+150%	$198.41M+190%
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date	$588.75M+354%	——	$477.01M+398%	$142.9M+85.6%	$129.65M+1.3%
Tax receivable within other current assets	$1.42M-67.4%	$1.45M-64.5%	$536K-93.1%	$828K—	$4.34M—
Long-term contingent liabilities	$3.5M-13.1%	$2.93M-15.6%	$3.57M-7.6%	$4.1M+1.1%	$4.03M+39.4%
Other	$2.71M—	$1.79M—	——	——	——
Other accrued liabilities	$1.12M+80.4%	$1.43M-59.1%	$1.75M-38.4%	$1.39M-18.4%	$622K-64.8%
Other	$37K-37.3%	$41K-36.9%	$47K-31.9%	$53K-10.2%	$59K+78.8%
Preferred Stock, Par or Stated Value Per Share	$00.0%	$00.0%	$00.0%	$00.0%	$00.0%
Preferred Stock, Shares Authorized	$5M0.0%	$5M0.0%	$5M0.0%	$5M0.0%	$5M0.0%
Preferred Stock, Shares Issued	$0—	$0—	$0—	$0—	$0—
Preferred Stock, Shares Outstanding	$0—	$0—	$0—	$0—	$0—
Senior Long Term Notes	$446.9M—	$446.19M—	$445.49M—	——	——
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number	$1.1M-15.4%	——	$1.1M-21.4%	$1.3M-13.3%	$1.3M-18.8%
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	$2.22M-12.1%	$2M-10.1%	$2.12M-16.8%	$2.45M-13.7%	$2.53M-13.1%
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$101.43+24.5%	$84.48+12.4%	$84.22+14.6%	$82.65+13.8%	$81.45+14.1%
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$75.95+5.0%	——	$74.83+6.5%	$73.19+6.3%	$72.31+7.3%
Unrecognized tax benefits	$17.08M+20.4%	$16.59M+17.1%	$19.87M+37.2%	$14.32M-1.1%	$14.19M+1.0%
Value Added Tax Receivable Net, Current	$1.84M+133%	$1.75M-66.0%	$882K—	$1.05M—	-$5.59M—

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Questions, answered.

Can Ligand Pharmaceuticals cover its short-term obligations?: Its current ratio is 21.28 — current assets exceed current liabilities.
Where does Ligand Pharmaceuticals's balance sheet data come from?: Every line is extracted from Ligand Pharmaceuticals's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.