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Ligand Pharmaceuticals LGND Zerion — 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)
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
Total financial royalty assets, net$209,699$(2,489)$207,210$222,375$(2,706)$219,669

Item 1. Condensed Consolidated Financial Statements (unaudited)

FAQ

What is Ligand Pharmaceuticals's zerion — financial royalty assets, allowance?
Ligand Pharmaceuticals (LGND) reported zerion — financial royalty assets, allowance of $79K in Q2 2026.
What does zerion — financial royalty assets, allowance mean?
This metric reflects the cumulative valuation adjustments, such as expected credit losses or impairment reserves, applied to the Zerion segment's royalty assets. It represents management's assessment of potential risks or collectability issues regarding the future cash flows expected from these specific licensed technologies. A change in this allowance provides insight into the perceived credit quality and performance outlook of the underlying pharmaceutical partnerships.

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