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How Ligand Pharmaceuticals (LGND) makes money
Ligand Pharmaceuticals (LGND) made $78.8M of revenue in the third quarter 2026 (Q3 2026), +59% from a year earlier. Revenue from intangible royalty assets brought in $47.2M (60%); Ojemda brought in $7.0M (9%); Other brought in $6.7M (8%).
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Revenue from intangible royalty assets | $47.2M | 60.0% | — | +36% |
| ↳ Income from financial royalty assets | $22.9M | 29.0% | — | +256% |
| ↳ Kyprolis | $10.5M | 13.3% | — | -10% |
| ↳ Captisol | $7.9M | 10.1% | — | -26% |
| ↳ Qarziba | $6.0M | 7.6% | — | -0.4% |
| Ojemda | $7.0M | 8.9% | — | — |
| Other | $6.7M | 8.5% | — | +25% |
| Capvaxive | $3.8M | 4.8% | — | +19% |
| Ohtuvayre | $3.7M | 4.7% | — | +36% |
| Vabysmo | $3.6M | 4.5% | — | — |
| Rylaze | $3.5M | 4.5% | — | -0.6% |
| Ohtuvayre inventors | $3.3M | 4.1% | — | — |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $78.8M | 100.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $78.7M | -32% |
| Q2 2026 | $63.7M | +34% |
| Q1 2026 | $51.7M | +14% |
| Q4 2025 | $59.7M | +39% |
| Q3 2025 | $115M | +123% |
| Q2 2025 | $47.6M | +15% |
| Q1 2025 | $45.3M | +46% |
From Ligand Pharmaceuticals' 10-Q filed Oct 30, 2026 (on EDGAR).
Questions
How does Ligand Pharmaceuticals make money?
Ligand Pharmaceuticals (LGND) made $78.8M of revenue in the third quarter 2026 (Q3 2026), +59% from a year earlier. Revenue from intangible royalty assets brought in $47.2M (60%); Ojemda brought in $7.0M (9%); Other brought in $6.7M (8%).
What is Ligand Pharmaceuticals' biggest business?
Revenue from intangible royalty assets: $47.2M in the third quarter 2026, 60% of revenue, +36% from a year earlier.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.