Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Q2 2025 Earnings Conference Call August 7, 2025 8:30 AM ET
Company Participants
Lauren Hay – Corporate Participant
Melanie Herman – Corporate Participant
Octavio Espinoza – Chief Financial Officer
Paul J. Hadden – Senior Vice President of Investments & Business Development
Todd C. Davis – CEO & Director
Conference Call Participants
Douglas Miehm – RBC Capital Markets, Research Division
John D. Vandermosten – Zacks Small-Cap Research
Lawrence Scott Solow – CJS Securities, Inc.
Matthew Gregory Hewitt – Craig-Hallum Capital Group LLC, Research Division
Trevor Thomas Allred – Oppenheimer & Co. Inc., Research Division
Operator
Good day, and welcome to the Ligand Second Quarter 2025 Earnings Call. [Operator Instructions] And finally, I would like to advise all participants that this call is being recorded. Thank you.
I’d now like to welcome Melanie Herman, Executive Director of Investor Relations, to begin the conference. Melanie, over to you.
Melanie Herman
Good morning, everyone, and welcome to Ligand’s Second 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 Pulpo 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 moving forward.
Our earnings release and a link to today’s webcast can be
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