Ligand (LGND) Q3 2026 Earnings Call Transcript

Ligand’s Q3 2026 call highlighted growth driven by a major acquisition and rising royalty momentum. Royalty revenue reached $70.3 million, up 51% year over year, with gains attributed to the July 14, 2026 close of the $730 million XOMA acquisition and commercial strength for Filspari and Ohtuvayre. Adjusted diluted EPS was $2.67, down from $3.09 a year earlier, when the quarter included $24.5 million of one-time Zelsuvmi out-license income. The company raised FY 2026 adjusted EPS guidance to $9.50–$9.75, from $9.00–$9.50, while reaffirming revenue guidance of $270 million–$310 million. Cash and short-term investments totaled $447.4 million as of Sept. 30, 2026, and total deployable capital was about $750 million.