Ligand Highlights XOMA Royalty Growth and $700M Deployable Capital

EarningsM&A · Partnership
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Summary · why it matters

Ligand Pharmaceuticals outlined its royalty-focused growth strategy, highlighting the XOMA acquisition that doubled its portfolio to more than 220 partnered programs and added seven commercial-stage assets, 14 late-stage programs, and over $2 billion in potential milestones. The company expects at least $1.50 in incremental adjusted EPS from XOMA next year, and second-quarter revenue rose 34% to $64 million with adjusted EPS up 48% to $2.37. Ligand raised the low end of its full-year adjusted EPS guidance to $9 and ended the quarter with $1.4 billion in cash and investments, retaining approximately $700 million in deployable capital after the acquisition. Key catalysts include FILSPARI's expansion, positive phase III data for Palvella's rapamycin program, and up to seven pivotal readouts by the end of 2027.

Impact on stocks 3

Biotech & Genomic Medicine▲ · 3 stocks
XOMA Royalty Corporation
XOMA
▲ PositiveCapitalrelevance

XOMA acquisition doubled Ligand's portfolio, adding commercial and late-stage assets, boosting growth.

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