Catalyst Dossier · compiled by CeliA 🧫

Ligand Pharmaceuticals Incorporated (LGND)

Pharmaceutical Preparations · market cap $5.5B · as of 2026-06-27

Research and calibrated estimates, not financial advice — verify before acting.

Next catalyst

2026-08-06

Earnings

Pipeline

programs

Upcoming events

next 90d+

Dossier

Ready

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Ligand Pharmaceuticals (LGND) is a royalty-focused biopharmaceutical company with a portfolio of approximately 90 royalty-generating assets and the Captisol drug delivery technology platform. Key royalty contributors include Kyprolis, Evomela, Filspari, and Vaxneuvance, with 68 employees and a $5.9B market cap supported by $268M in 2025 revenue and $124M net income. The lead development asset is lasofoxifene in Phase 3 for osteoporosis, with several additional partnered programs across Phase 2.

The catalyst path

2026-08-06Earningsimp 5/10

Pipeline

Asset	Phase	Indication
irbesartan	Phase 2	Hypertension
LGD-6972-5 mg	Phase 2	Type 2 Diabetes Mellitus
MB07803	Phase 2	Type 2 Diabetes Mellitus
Budesonide + Azelastine	Phase 2	Seasonal Allergic Rhinitis
MB07133 300mg/m2/day	Phase 2	Hepatocellular Carcinoma
bexarotene	Phase 2	Breast Cancer
lasofoxifene	Phase 3	Osteoporosis
denileukin diftitox	Phase 2	Drug/Agent Toxicity by Tissue/Organ
PS433540	Phase 2	Hypertension
Aplindore	Phase 2	Early Stage Parkinson's Disease
Budesonide	Phase 2	Seasonal Allergic Rhinitis

Price & technical context

3-month

+56.3%

6-month

+59.9%

12-month

+174.5%

52-wk range

$112.56–$316.09

vs 50-day MA

+28.5%

vs 200-day MA

+51.0%

Realized vol

37.6%

Max drawdown

-25.6%

Daily closes through 2026-07-01. Realized vol annualized; max drawdown over ~2 years.

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Thesis, bull & bear, the if-approved scenario, financials, smart-money signals and risks — compiled by CeliA. The catalyst path & pipeline above are free.

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Sources & data

SEC filings — EDGAR filings for LGND (10-K, 10-Q, S-3, 13D/G, Form 4)
Clinical trials — 11 registered trials on ClinicalTrials.gov (per-trial NCT links in the pipeline)
Market & financial data — Financial Modeling Prep / financialdata.net — prices, statements, key metrics, insider & institutional filings.
Regulatory — openFDA, FDA advisory & PDUFA calendars.

Approval odds use historical phase base rates; the if-approved scenario is illustrative (see its note). Figures trace to the sources above — verify before acting.

Data from CatalystAlert (ClinicalTrials.gov, SEC EDGAR, openFDA, Financial Modeling Prep). Compiled by CeliA. Not financial advice.