Ligand Pharmaceuticals Incorporated (LGND) Q1 2025 Earnings Call Transcript

2025-05-08 14:19:07 ET

Ligand Pharmaceuticals Incorporated (LGND)

Q1 2025 Earnings Conference Call

May 8, 2025 8:30 AM ET

Company Participants

Melanie Herman – Executive Director-Investor Relations

Todd Davis – Chief Executive Officer

Rich Baxter – Senior Vice President-Investment Operations

Tavo Espinoza – Chief Financial Officer

Lauren Hay – Vice President-Strategic Planning and Investment Analytics

Conference Call Participants

Doug Miehm – RBC Capital Markets

Matt Hewitt – Craig-Hallum

Trevor Allred – Oppenheimer

Annabel Samimy – Stifel

John Vandermosten – Zacks

Presentation

Operator

Thank you for standing by. My name is Kate and I will be your conference operator today. At this time, I would like to welcome everyone to the Ligand First Quarter 2025 Earnings. All lines have been placed on you to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I would now like to turn the call over to Melanie Herman, Executive Director of Investor Relations. Please go ahead.

Melanie Herman

Good morning, everyone, and welcome to Ligand’s first quarter 2025 earnings call. During the call today, we will review the financial results we released earlier today and provide commentary on our partner pipeline and business development activity, followed by a question-and-answer session.

Before we get started, I would like to point out that we will be discussing non-GAAP results, which excludes certain items such as stock-based compensation, amortization of intangible assets, amortization or impairment of financial assets, losses from derivative assets and expenses incurred to incubate the Pelthos business amongst others.

I encourage you to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP measures, which can be found in today’s release available on our website. We believe these adjusted measures provide valuable insight into our core operating performance both historically and going forward....

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