For the quarter ending 2026-03-31, LGNXZ had -$59,833K decrease in cash & cash equivalents over the period. $48,463K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 |
|---|---|---|---|
| Impairment loss of financial royalty assets | - | 6,197 | 0 |
| Net loss | -13,345 | 44,784 | 79,669 |
| Gain on sale of pelican | - | -53,072 | 53,072 |
| Loss from equity method investment in primrose bio | - | 0 | 0 |
| Change in estimated fair value of contingent liabilities | -624 | 615 | -1,475 |
| Gain on pelthos transaction | - | 53,072 | - |
| Depreciation of fixed assets and amortization of intangible assets | 8,216 | 8,214 | 25,561 |
| Accretion of short-term investments | 1,502 | 2,015 | 2,943 |
| Amortization of debt discount and issuance fees | 803 | 565 | 708 |
| Non-cash income from financial royalty assets | -4,796 | 7,372 | 1,248 |
| Cecl adjustment to financial royalty assets | 21 | -198 | -724 |
| Loss on derivative instruments | -837 | 1,156 | -134 |
| Loss from change in fair value of equity-method investments and other investments | -49,229 | 14,783 | 75,887 |
| Share-based compensation | 10,596 | 14,270 | 32,579 |
| Deferred income taxes, net | 13,532 | -10,571 | -12,113 |
| (gain) loss from short-term investments | 3,869 | 22,063 | -3,630 |
| Lease amortization expense | 479 | 480 | 1,462 |
| Other | -547 | -253 | 1,941 |
| Accounts receivable | -6,409 | 2,087 | 19,650 |
| Inventory | 4,140 | -2,774 | -2,214 |
| Other economic rights | - | 0 | - |
| Accounts payable and accrued liabilities | 2,714 | 7,345 | -1,463 |
| Income tax receivable and payable | -695 | 955 | -3,622 |
| Cash outflow on deconsolidation of lnhc, inc | - | 0 | 8,085 |
| Deferred revenue | 0 | 0 | -578 |
| Cash paid for investment in primrose bio | - | 0 | 0 |
| Other assets and liabilities | -207 | -2,212 | 6,099 |
| Cash paid for other investments | - | 3,847 | - |
| Net cash provided by (used in) operating activities | 48,691 | 45,915 | 3,444 |
| Cash paid for palvella notes receivable | - | - | 0 |
| Net cash paid for acquisitions | - | 0 | - |
| Acquisition of financial royalty assets | 0 | 650 | 10,212 |
| Cash paid for the agenus transaction | - | 0 | 0 |
| Acquisition of royalty receivables | - | 0 | 813 |
| Cash paid for apeiron acquisition, net of cash received | - | 0 | 0 |
| Proceeds from financial royalty assets | 6,979 | 1,495 | 8,766 |
| Cash paid for invios investment | - | 303 | 0 |
| Purchases of derivatives | 0 | 5,113 | 8,679 |
| Proceeds from sale of derivatives | 431 | 0 | - |
| Purchases of property and equipment | 228 | 9 | 443 |
| Purchases of short-term investments | 222,179 | 211,857 | 514,856 |
| Proceeds from sale of short-term investments | 1,300 | 120,985 | 38,599 |
| Proceeds from maturity of short-term investments | 119,350 | 81,195 | 136,505 |
| Net cash (used in) provided by investing activities | -94,347 | -18,104 | -359,218 |
| Gross proceeds from issuance of 2030 convertible senior notes | - | 0 | 460,000 |
| Debt discount and payment of debt issuance cost | 50 | 617 | 14,911 |
| Purchase of 2030 convertible senior notes hedge | - | 0 | 113,250 |
| Proceeds from issuance of warrants | - | 0 | 67,390 |
| Repurchase of common stock | - | 0 | 15,000 |
| Proceeds from common stock issuance, net of commissions and fees | - | 0 | 0 |
| Repayment of 2023 notes at maturity | - | 0 | - |
| Payments under finance lease obligations | 7 | 7 | 20 |
| Payments to cvr holders | - | 0 | 174 |
| Net proceeds from stock option exercises and espp | 7,654 | 9,298 | 38,203 |
| Taxes paid related to net share settlement of equity awards | 21,730 | 344 | 9,255 |
| Proceeds from pelthos investors bridge loans | - | 0 | 6,910 |
| Net cash used in financing activities | -14,133 | 8,330 | 419,893 |
| Effect of exchange rate changes on cash and cash equivalents | -44 | -590 | 2,950 |
| Net decrease in cash, cash equivalents and restricted cash, including cash and cash equivalents classified within assets held for sale | -126,902 | - | 67,069 |
| Less net increase in cash and cash equivalents classified within assets held for sale | 0 | - | - |
| Net decrease in cash, cash equivalents and restricted cash | -59,833 | 102,620 | - |
| Cash, cash equivalents and restricted cash at beginning of period | 174,927 | 139,376 | 72,307 |
| Cash, cash equivalents and restricted cash at end of period | 115,094 | 174,927 | 139,376 |
LIGAND PHARMACEUTICALS INC (LGNXZ)
LIGAND PHARMACEUTICALS INC (LGNXZ)