# LIGAND PHARMACEUTICALS INC (LGNZZ) — merger [announced]
Source: SEC API (secapi.ai) · situation sit_69d93757048b7409f8a6 · retrieved 2026-08-12T07:00:14.781Z

## Overview
Ligand Pharmaceuticals is a leading royalty aggregator that partners with biopharmaceutical companies to finance and advance late-stage clinical development programs, owning and managing one of the largest and most diversified portfolios of biopharmaceutical royalties in the industry with economic interests in more than 200 development and commercial-stage assets.

On July 14, 2026, Ligand Pharmaceuticals completed its acquisition of XOMA Royalty, a biotechnology royalty aggregator. Each outstanding share of XOMA Royalty common stock was converted into the right to receive $39.00 in cash and one contingent value right (CVR) representing the holder's right to receive potential future payments derived from the CVR trust's interest in XOMA Royalty LLC. The transaction added more than 120 commercial, clinical, and preclinical-stage assets to Ligand's portfolio, including seven commercial products such as Roche's VABYSMO, Servier's OJEMDA, and Zevra Therapeutics' MIPLYFFA, along with 14 late-stage development programs. Ligand funded the transaction through cash on hand and expects to retain sufficient capital capacity to continue executing its capital deployment strategy.

## Terms
- Counterparty: XOMA Royalty · Consideration: mixed · Price/share: $39

## Key dates
- Announced 2026-08-06

## Timeline
- 2026-08-06 · 8-K (0000886163-26-000041): 8-K - LIGAND PHARMACEUTICALS INC — *Ligand Pharmaceuticals is a leading royalty aggregator that partners with biopharmaceutical companies to finance and advance late-stage clinical development programs, owning and managing one of the largest and most diversified portfolios of biopharmaceutical royalties in the industry with economic interests in more than 200 development and commercial-stage assets.* On July 14, 2026, Ligand Pharmaceuticals completed its acquisition of XOMA Royalty, a biotechnology royalty aggregator. Each outstanding share of XOMA Royalty common stock was converted into the right to receive $39.00 in cash and one contingent value right (CVR) representing the holder's right to receive potential future payments derived from the CVR trust's interest in XOMA Royalty LLC. The transaction added more than 120 commercial, clinical, and preclinical-stage assets to Ligand's portfolio, including seven commercial products such as Roche's VABYSMO, Servier's OJEMDA, and Zevra Therapeutics' MIPLYFFA, along with 14 late-stage development programs. Ligand funded the transaction through cash on hand and expects to retain sufficient capital capacity to continue executing its capital deployment strategy.
  https://www.sec.gov/Archives/edgar/data/886163/0000886163-26-000041.txt

## Citations
- 0000886163-26-000041 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000088616326000041