Ligand Pharmaceuticals reported second quarter total revenue of $63.7 million, up 34% year over year, and raised the lower end of its 2026 adjusted EPS guidance to $9.00 from $8.50, while maintaining the upper end at $9.50. Royalty revenue grew 32% to $48.0 million, driven by Filspari, Ohtuvayre, and Zelsuvmi, and adjusted diluted EPS rose 48% to $2.37. The company reaffirmed 2026 total revenue guidance of $270 million to $310 million and royalty revenue of $225 million to $250 million. Ligand also completed the acquisition of XOMA Royalty, adding over 120 commercial, clinical, and preclinical assets, and issued $700 million in 0% coupon convertible notes due 2031, leaving approximately $700 million in deployable capital.
Ligand Pharmaceuticals IncorporatedQ2 revenue up 34%, EPS up 48%, and raised 2026 EPS guidance
XOMA Royalty CorporationAcquired by Ligand, adding value to XOMA shareholders
Amgen Inc