What is Ligand Pharmaceuticals's R&D?

Ligand Pharmaceuticals (LGND) reported R&D of $2.15M in Q1 2026.

How has Ligand Pharmaceuticals's R&D changed year-over-year?

Ligand Pharmaceuticals's R&D decreased by 95.7% year-over-year, from $50.09M to $2.15M.

What is the long-term trend for Ligand Pharmaceuticals's R&D?

Over 4 years (2021 to 2025), Ligand Pharmaceuticals's R&D has grown at a 26.1% compound annual growth rate (CAGR), from $32.11M to $81.18M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Ligand Pharmaceuticals LGND R&D

R&D at other companies

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$39.79M-21.2%

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$27.48M+42.2%

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$5.6B+96.7%

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 / equity0×0.0×

Current ratio21.3×+16.0×

Where this comes from

Reported directly by Ligand Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

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 R&D?: Ligand Pharmaceuticals (LGND) reported R&D of $2.15M in Q1 2026.
How has Ligand Pharmaceuticals's R&D changed year-over-year?: Ligand Pharmaceuticals's R&D decreased by 95.7% year-over-year, from $50.09M to $2.15M.
What is the long-term trend for Ligand Pharmaceuticals's R&D?: Over 4 years (2021 to 2025), Ligand Pharmaceuticals's R&D has grown at a 26.1% compound annual growth rate (CAGR), from $32.11M to $81.18M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.