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Ligand Pharmaceuticals LGND Tolerance Therapeutics (Tzield®) — Financial Royalty Assets, Net

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Other financials

Income statement

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Revenue$51.7M+14.1%
Operating income$17.4M+148%
Net income-$13.3M+68.6%
EPS (diluted)-$0.67+69.7%

Balance sheet

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Cash & equivalents$115.1M+140%
Total debt$5.1M+14.2%
Total equity$997.3M+25.4%
Total assets$1.5B+69.2%

Cash flow

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Operating cash flow$48.7M+291%
CapEx$228.0K+6.5%
Free cash flow$48.5M+289%

Valuation

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Market cap$5.51B+96.7%
Enterprise value$5.4B+95.4%
P/E35.9×
P/S20.1×+4.6×

Profitability

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Gross margin91.9%
Operating margin34.5%+23.0pp
Net margin55.9%+35.7pp
FCF margin44.8%+16.8pp

Returns & leverage

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Return on equity17.1%+11.5pp
Debt / equity0.0×
Current ratio21.3×+16.0×

Where this comes from

Reported directly by Ligand Pharmaceuticals in its filing.

Tagged under the XBRL concept lgnd:FinancialRoyaltyAssetsNet.

The official record: Ligand Pharmaceuticals’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ligand Pharmaceuticals's tolerance therapeutics (tzield®) — financial royalty assets, net?
Ligand Pharmaceuticals (LGND) reported tolerance therapeutics (tzield®) — financial royalty assets, net of $25.07M in Q1 2026.
What does tolerance therapeutics (tzield®) — financial royalty assets, net mean?
This metric represents the net book value of the royalty asset related to the Tzield product after accounting for all applicable allowances and impairments. It serves as the current carrying value of the asset on the balance sheet, reflecting the estimated present value of future royalty cash flows. This figure is critical for assessing the tangible value of the company's intellectual property portfolio and its potential for future cash generation.