Ligand reports Q1 adjusted EPS $1.63, consensus $1.80

Reports Q1 revenue $51.72M, consensus $58.86M. “The first few months of 2026 have already proven to be highly productive and transformative for Ligand (LGND),” said Todd Davis, CEO of Ligand. “In April, we announced a definitive agreement to acquire XOMA Royalty Corporation, a highly complementary business that we expect to accelerate both near and long-term growth. Upon closing, the transaction will add more than 120 commercial, clinical and preclinical-stage assets to our royalty portfolio, including seven commercial assets and 14 late-stage programs, and meaningfully diversify Ligand across therapeutic areas, stages of development, and biopharma partners. We were also pleased to see the full FDA approval of Filspari in focal segmental glomerulosclerosis (“FSGS”), a transformative milestone that further strengthens one of our most valuable royalty assets. Filspari is now the largest royalty contributor within our commercial portfolio and, as the first and only FDA-approved medicine for this rare and serious kidney disease, is well positioned to be a key driver of long-term royalty growth.”