Ligand Pharmaceuticals (LGND) Operating Expenses (2010 - 2026)
Ligand Pharmaceuticals' Operating Expenses came in at $55.1 million for Q2 2026, up 40.6% from $39.18 million a year earlier and up 60.4% from the prior quarter.
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Analysis
Ligand Pharmaceuticals (LGND) Operating Expenses (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Ligand Pharmaceuticals reported Operating Expenses of $195.81 million, down 11.7% year-over-year; for FY2025, it was $227.09 million, up 19.7% from FY2024.
- Operating Expenses carries a five-year compound annual growth rate of 9.7% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $189.74 million in FY2024 (+56.2%), $121.49 million in FY2023 (-37.1%), $193.21 million in FY2022 (+40.3%) and $137.69 million in FY2021 (-3.8%).
- The five-year range for quarterly Operating Expenses is $27.99 million (Q1 2024) to $81.55 million (Q1 2025).
- Year-over-year, Operating Expenses increased in five of the last eight quarters, with growth averaging 33.7%.
- The fastest year-over-year change in Operating Expenses over five years came in Q1 2025 (growth of 191.4%), and the weakest in Q1 2026 (a decline of 57.9%).
- Business Quant data shows LGND's Operating Expenses at $34.35 million (Q1 2026), $45.82 million (Q4 2025) and $60.53 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 645.01 Bn | 563.54 Bn | 17.26 Bn | 10.12 Bn |
| 2 | AbbVie | 465.23 Bn | 438.39 Bn | 12.70 Bn | 10.56 Bn |
| 3 | Merck | 368.40 Bn | 322.83 Bn | 12.21 Bn | 12.80 Bn |
| 4 | Novartis Ag | 278.02 Bn | 233.89 Bn | 11.24 Bn | -6.09 Bn |
| 5 | Astrazeneca | 254.57 Bn | 228.13 Bn | 12.86 Bn | -9.70 Bn |
| 6 | Amgen | 229.02 Bn | 184.42 Bn | 7.24 Bn | 6.54 Bn |
| 7 | Gilead Sciences | 187.74 Bn | 161.85 Bn | 6.22 Bn | 18.20 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 6.68 Bn |
| 9 | Vertex Pharmaceuticals | 133.45 Bn | 105.45 Bn | 2.84 Bn | 2.09 Bn |
| 10 | Ligand Pharmaceuticals | 6.18 Bn | 2.65 Bn | - | 55.10 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 55.10 Mn |
| Mar 31, 2026 | 34.35 Mn |
| Dec 31, 2025 | 45.82 Mn |
| Sep 30, 2025 | 60.53 Mn |
| Jun 30, 2025 | 39.18 Mn |
| Mar 31, 2025 | 81.55 Mn |
| Dec 31, 2024 | 52.45 Mn |
| Sep 30, 2024 | 48.67 Mn |
| Jun 30, 2024 | 60.63 Mn |
| Mar 31, 2024 | 27.99 Mn |
| Dec 31, 2023 | 31.46 Mn |
| Sep 30, 2023 | 31.91 Mn |
| Jun 30, 2023 | 28.35 Mn |
| Mar 31, 2023 | 29.77 Mn |
| Dec 31, 2022 | 70.48 Mn |
| Sep 30, 2022 | 46.88 Mn |
| Jun 30, 2022 | 41.46 Mn |
| Mar 31, 2022 | 34.38 Mn |
| Dec 31, 2021 | 41.28 Mn |
| Sep 30, 2021 | 34.60 Mn |
API Access
Ligand Pharmaceuticals Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=LGND&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "LGND", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=LGND&period=max&api_key=YOUR_API_KEY");
const data = await res.json();