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Ligand Pharmaceuticals LGND Elutia (CorMatrix) — Financial Royalty Assets, Allowance

Other product segments

Qarziba
$468K

Similar metrics at other companies

Royalty Pharma logo
RPRXCash collections from financial royalty assets
$814.85M+12.2%
Royalty Pharma logo
RPRXCash collections from financial royalty assets
$814.85M+12.2%
Royalty Pharma logo
RPRXCash collections from financial royalty assets
$814.85M+12.2%
BioCryst Pharmaceuticals logo
BCRXRoyalty Financing Liabilities
$426.79M-11.7%
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BCRXRoyalty financing obligations
$43.81M+22.6%
BioCryst Pharmaceuticals logo
BCRXRoyalty financing obligations
$382.98M-14.5%

Other financials

Income statement

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Revenue$63.7M+33.7%
Operating income$8.6M+1.7%
Net income$48.5M+901%
EPS (diluted)$2.22+825%

Balance sheet

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Cash & equivalents$1.0B+1,388%
Total debt$1.1B+19,605%
Total equity$967.5M+16.9%
Total assets$2.2B+130%

Cash flow

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Operating cash flow$24.0M+52.0%
CapEx$26.0K-87.9%
Free cash flow$24.0M+53.9%

Valuation

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Market cap$6.02B+119%
Enterprise value$6.14B+129%
P/E30.5×
P/S20.7×+6.1×

Profitability

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Gross margin91.9%
Operating margin32.6%+24.0pp
Net margin67.9%+49.4pp
FCF margin45.2%+16.7pp

Returns & leverage

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Return on equity22%+16.9pp
Debt / equity1.2×+1.2×
Current ratio31.2×+25.7×

Where this comes from

Reported directly by Ligand Pharmaceuticals in its filing.

Tagged under the XBRL concept lgnd:FinancialRoyaltyAssetsAllowance.

The source filing: Ligand Pharmaceuticals’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 4:06 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000886163-26-000044
Line itemJune 30, 2026 / Gross carrying value(1)June 30, 2026 / AllowanceJune 30, 2026 / Net carrying value (1)December 31, 2025 / Gross carrying value(1)December 31, 2025 / AllowanceDecember 31, 2025 / Net carrying value(1)
Agenus Bot/Bal40,815(408)40,40740,815(408)40,407
Tolerance Therapeutics (Tzield®)25,470(99)25,37125,257(98)25,159
Ohtuvayre inventors19,957(179)19,77816,921(151)16,770
Elutia (CorMatrix)6,062(837)5,2256,607(1,107)5,500
AT2204,442(109)4,3335,132(132)5,000
Primrose mRNA3,281(98)3,1833,281(98)3,183
Zerion2,640(79)2,561
Others5,729(212)5,5175,769(214)5,555

Item 1. Condensed Consolidated Financial Statements (unaudited)

FAQ

What is Ligand Pharmaceuticals's elutia (cormatrix) — financial royalty assets, allowance?
Ligand Pharmaceuticals (LGND) reported elutia (cormatrix) — financial royalty assets, allowance of $837K in Q2 2026.
What does elutia (cormatrix) — financial royalty assets, allowance mean?
This reflects the contra-asset account established to account for potential uncollectibility or expected credit losses related to royalty assets from the Elutia and CorMatrix segments. It represents management's estimate of the portion of royalty receivables that may not be realized. A significant increase in this allowance may indicate deteriorating credit quality or collection risks associated with the underlying licensees.

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