{"filing":{"accession_number":"0001193125-26-302660","cik":"0000886163","ticker":"LGNYZ","company_name":"LIGAND PHARMACEUTICALS INC","form":"8-K","filing_date":"2026-07-14","report_date":null,"primary_document":"d108457d8k.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/886163/000119312526302660/d108457d8k.htm"},"events":[{"id":17786,"run_id":15948,"accession_number":"0001193125-26-302660","anchor_item_number":"1.01","event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"summary":"Ligand Pharmaceuticals completed its acquisition of XOMA Royalty Corporation on July 14, 2026, for $39.00 per share in cash (approximately $739 million equity value) plus contingent value rights. The transaction doubles Ligand's royalty portfolio from approximately 100 to over 200 assets, adds seven commercial products and 14 late-stage development programs, and is expected to be accretive to earnings per share by $0.50 and $1.50 in 2026 and 2027 respectively.","company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGNYZ","filing_date":"2026-07-14","form":"8-K","submitted_at":null,"items":[{"id":16388,"accession_number":"0001193125-26-302660","item_number":"1.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"reasoning":"Ligand completed its acquisition of XOMA Royalty Corporation on July 14, 2026, pursuant to the Merger Agreement dated April 27, 2026. The transaction involved a merger of Ligand's subsidiary into XOMA Royalty's holding company, with total equity value of approximately $739 million at $39.00 per share. This is a material acquisition that doubles Ligand's royalty portfolio to over 200 assets and is expected to be accretive to earnings per share, meeting the definition of material M\u0026A activity under Item 1.01.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T13:20:46.777006+00:00","company_name":"","ticker":null,"filing_date":""},{"id":16389,"accession_number":"0001193125-26-302660","item_number":"2.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"reasoning":"Item 2.01 discloses the completion of Ligand's acquisition of XOMA Royalty Corporation on July 14, 2026, for $39.00 per share in cash (approximately $739 million equity value) plus contingent value rights. The filing describes the merger mechanics, holding company reorganization, and CVR spin-off structure. This is a material acquisition that substantially expands Ligand's royalty portfolio from approximately 100 to over 200 assets and adds seven commercial products including VABYSMO, OJEMDA, and MIPLYFFA, with expected accretion of $0.50 and $1.50 per share in 2026 and 2027 respectively.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T13:20:46.777006+00:00","company_name":"","ticker":null,"filing_date":""},{"id":16390,"accession_number":"0001193125-26-302660","item_number":"2.03","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.95,"reasoning":"Ligand completed its acquisition of XOMA Royalty Corporation for $39.00 per share in cash, totaling approximately $739 million in equity value. The press release explicitly states \"Ligand Completes Acquisition of XOMA Royalty\" and describes the transaction as adding seven commercial products, 14 late-stage development programs, and over 100 assets in various stages of development, effectively doubling Ligand's portfolio to over 200 royalty assets. This is a material M\u0026A completion disclosed under Item 2.03 (which incorporates Item 1.01 by reference).","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T13:20:46.777006+00:00","company_name":"","ticker":null,"filing_date":""},{"id":16391,"accession_number":"0001193125-26-302660","item_number":"7.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"reasoning":"The filing discloses completion of Ligand's acquisition of XOMA Royalty Corporation for $39.00 per share in cash (approximately $739 million equity value), adding seven commercial products and over 100 development-stage assets. This is a material acquisition that doubles Ligand's royalty portfolio to over 200 assets and is expected to be accretive to 2026 and 2027 earnings per share, representing a significant change of control transaction.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T13:20:46.777006+00:00","company_name":"","ticker":null,"filing_date":""}]}],"classifications":[{"id":16388,"accession_number":"0001193125-26-302660","item_number":"1.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"reasoning":"Ligand completed its acquisition of XOMA Royalty Corporation on July 14, 2026, pursuant to the Merger Agreement dated April 27, 2026. The transaction involved a merger of Ligand's subsidiary into XOMA Royalty's holding company, with total equity value of approximately $739 million at $39.00 per share. This is a material acquisition that doubles Ligand's royalty portfolio to over 200 assets and is expected to be accretive to earnings per share, meeting the definition of material M\u0026A activity under Item 1.01.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T13:20:46.777006+00:00","company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGNYZ","filing_date":"2026-07-14"},{"id":16389,"accession_number":"0001193125-26-302660","item_number":"2.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"reasoning":"Item 2.01 discloses the completion of Ligand's acquisition of XOMA Royalty Corporation on July 14, 2026, for $39.00 per share in cash (approximately $739 million equity value) plus contingent value rights. The filing describes the merger mechanics, holding company reorganization, and CVR spin-off structure. This is a material acquisition that substantially expands Ligand's royalty portfolio from approximately 100 to over 200 assets and adds seven commercial products including VABYSMO, OJEMDA, and MIPLYFFA, with expected accretion of $0.50 and $1.50 per share in 2026 and 2027 respectively.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T13:20:46.777006+00:00","company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGNYZ","filing_date":"2026-07-14"},{"id":16390,"accession_number":"0001193125-26-302660","item_number":"2.03","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.95,"reasoning":"Ligand completed its acquisition of XOMA Royalty Corporation for $39.00 per share in cash, totaling approximately $739 million in equity value. The press release explicitly states \"Ligand Completes Acquisition of XOMA Royalty\" and describes the transaction as adding seven commercial products, 14 late-stage development programs, and over 100 assets in various stages of development, effectively doubling Ligand's portfolio to over 200 royalty assets. This is a material M\u0026A completion disclosed under Item 2.03 (which incorporates Item 1.01 by reference).","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T13:20:46.777006+00:00","company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGNYZ","filing_date":"2026-07-14"},{"id":16391,"accession_number":"0001193125-26-302660","item_number":"7.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"reasoning":"The filing discloses completion of Ligand's acquisition of XOMA Royalty Corporation for $39.00 per share in cash (approximately $739 million equity value), adding seven commercial products and over 100 development-stage assets. This is a material acquisition that doubles Ligand's royalty portfolio to over 200 assets and is expected to be accretive to 2026 and 2027 earnings per share, representing a significant change of control transaction.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-14T13:20:46.777006+00:00","company_name":"LIGAND PHARMACEUTICALS INC","ticker":"LGNYZ","filing_date":"2026-07-14"}]}