Ligand Pharmaceuticals Completes Asset Acquisition

TL;DR

Ligand just bought some assets, details TBD.

AI Summary

On July 15, 2024, Ligand Pharmaceuticals Inc. announced the completion of its acquisition of assets from a third party. The filing does not disclose specific details regarding the acquired assets or the financial terms of the transaction.

Why It Matters

This acquisition could expand Ligand's portfolio and potentially lead to new revenue streams or product development opportunities.

Risk Assessment

Risk Level: medium — The lack of specific details about the acquired assets and financial terms introduces uncertainty regarding the true value and impact of this transaction.

Key Players & Entities

• Ligand Pharmaceuticals Inc. (company) — Registrant
• July 15, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 77-0160744 (tax_id) — I.R.S. Employer Identification No.
• 555 Heritage Drive, Suite 200 Jupiter Florida 33458 (address) — Address of principal executive offices
• 858-550-7500 (phone) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share LGND The Nasdaq Global Market
• $100 million — l the outstanding shares of APEIRON for $100 million in cash at closing. Ligand would also p
• $28 million — and regulatory events, including up to $28 million if QARZIBA royalties exceed certain pre

Filing Documents

• lgnd-20240715.htm (8-K) — 23KB
• 0000886163-24-000061.txt ( ) — 146KB
• lgnd-20240715.xsd (EX-101.SCH) — 2KB
• lgnd-20240715_lab.xml (EX-101.LAB) — 22KB
• lgnd-20240715_pre.xml (EX-101.PRE) — 13KB
• lgnd-20240715_htm.xml (XML) — 3KB

01 Completion of Acquisition or Disposition of Assets

Item 2.01 Completion of Acquisition or Disposition of Assets. As previously reported on July 8, 2024, Ligand Pharmaceuticals Incorporated ("Ligand") entered into a definitive agreement (the "Agreement") to acquire APEIRON Biologics AG ("APEIRON"), including the royalty rights to QARZIBA (dinutuximab beta) for the treatment of high-risk neuroblastoma (the "APEIRON Acquisition"). Under the terms of the Agreement, Ligand would acquire all the outstanding shares of APEIRON for $100 million in cash at closing. Ligand would also pay APEIRON shareholders additional consideration based on future commercial and regulatory events, including up to $28 million if QARZIBA royalties exceed certain predetermined thresholds by either 2030 or 2034, respectively. On July 15, 2024, Ligand completed the acquisition of APEIRON pursuant to the terms of the Agreement for an aggregate amount of $100 million. Ligand funded the APEIRON Acquisition from its available cash on hand. The closing was subject to a 30-day shareholder objection period and other customary closing conditions. The above summary of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement which will be filed as an exhibit to Ligand's Quarterly Report on Form 10-Q to be filed with respect to the quarter ended June 30, 2024.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LIGAND PHARMACEUTICALS INCORPORATED Date: July 17, 2024 By: /s/ Andrew Reardon Name: Andrew Reardon Title: Chief Legal Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR