The earnings call reflects a strong performance with significant growth in royalty revenue, strategic investments, and successful product launches. However, increased operating expenses and tax rate concerns were noted. The positive aspects significantly outweigh the challenges.

Company Guidance

During Ligand's second quarter 2025 earnings call, the company increased its financial guidance for the year, driven by a strong 57% year-over-year growth in royalty revenue and a 14% rise in adjusted EPS. The company highlighted its robust balance sheet with approximately $450 million in deployable capital and noted several strategic investments, including a $40 million commitment with Medtronic and Orchestra BioMed. This partnership supports the development of two cardiovascular therapies, AVIM therapy and Virtu SAB therapy, both of which have received breakthrough device designations from the FDA. Ligand's CEO, Todd Davis, expressed confidence in the company's diversified portfolio and its ability to deliver sustained growth and value for shareholders.

Strong Royalty Revenue Growth

Royalty revenue grew 57% over the same quarter last year, and adjusted EPS increased 14%. Total revenue for Q2 '25 grew 15% year-over-year to $47.6 million.

Strategic Investments and Partnerships

Ligand completed a strategic merger of Pelthos with Channel Therapeutics and partnered with Medtronic and Orchestra BioMed to support development of promising cardiovascular therapies, which have received 4 breakthrough device designations from the FDA.

Successful Launch and Market Expansion

Pelthos launched Zelsuvmi into the market, and the current market value of Ligand's equity stake in Pelthos is approximately $100 million. The company expects Zelsuvmi to achieve $175 million in peak sales.

Merck's Acquisition of Verona

Merck announced a $10 billion acquisition of Verona, which could accelerate the global launch of O2vir, where Ligand receives a 3% royalty on worldwide net sales.

Positive Clinical Trial Developments

Nuance Pharma announced positive data and completion of its Phase III trial in China for an asset partnered with Verona. FDA granted Recordati orphan drug designation for Qarziba in Ewing sarcoma.

Ligand Pharma (LGND) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

LGND Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	1.93 / -	1.84	―	―	―
Aug 07, 2025	2025 (Q2)	1.42 / 1.60	1.4	14.29% (+0.20)
May 08, 2025	2025 (Q1)	1.21 / 1.33	1.2	10.83% (+0.13)
Feb 27, 2025	2024 (Q4)	1.19 / 1.27	1.38	-7.97% (-0.11)
Nov 07, 2024	2024 (Q3)	1.35 / 1.84	1.02	80.39% (+0.82)
Aug 06, 2024	2024 (Q2)	1.06 / 1.40	1.42	-1.41% (-0.02)	―
May 07, 2024	2024 (Q1)	0.83 / 1.20	2.28	-47.37% (-1.08)	―
Feb 27, 2024	2023 (Q4)	0.66 / 1.38	0.75	84.00% (+0.63)	―
Nov 08, 2023	2023 (Q3)	0.62 / 1.02	0.265	284.91% (+0.76)	―
Aug 08, 2023	2023 (Q2)	0.64 / 1.42	0.665	113.53% (+0.75)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

LGND Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$142.40	$146.32	+2.75%
May 08, 2025	$105.62	$102.51	-2.94%
Feb 27, 2025	$115.01	$115.67	+0.57%
Nov 07, 2024	$116.90	$129.90	+11.12%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Ligand Pharma (LGND) report earnings?

Ligand Pharma (LGND) is schdueled to report earning on Nov 05, 2025, After Close (Confirmed).

What is Ligand Pharma (LGND) earnings time?

Ligand Pharma (LGND) earnings time is at Nov 05, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is LGND EPS forecast?

LGND EPS forecast for the fiscal quarter 2025 (Q3) is 1.93.

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