• Ligand Pharmaceuticals posted Q2 GAAP net income of $48.51 million, or $2.22 per diluted share, versus $4.85 million, or $0.24, a year earlier.
• Total revenue rose 34% year over year to $63.69 million, driven by royalties of $48.03 million, up 32%.
• Non-GAAP adjusted net income climbed 59% to $50.78 million, lifting adjusted diluted EPS 48% to $2.37.
• Cash, cash equivalents and short-term investments totaled $1.36 billion at June 30, up from $733.52 million at year-end, following a $700 million 0.00% convertible senior notes due 2031 offering.
• Reaffirmed 2026 total revenue guidance of $270 million-$310 million, raising the low end of non-GAAP adjusted EPS to about $9-$9.5 from $8.5-$9.5.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ligand Pharmaceuticals Inc. published the original content used to generate this news brief on August 06, 2026, and is solely responsible for the information contained therein.