Ligand Pharmaceuticals (LGND) Operating Expenses (2010 - 2026)

Ligand Pharmaceuticals has disclosed Operating Expenses across 17 years of filings, most recently posting $34.4 million for Q1 2026.

• Operating Expenses for Q1 2026 came in at $34.4 million, down 57.87% year-over-year; the trailing twelve-month figure through Mar 2026 was $179.9 million (down 26.06% YoY), and the FY2025 annual result was $227.1 million, up 19.68% from the prior year.
• Operating Expenses came in at $34.4 million for Q1 2026 at Ligand Pharmaceuticals, down from $45.8 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $81.5 million in Q1 2025 to a low of $28.0 million in Q1 2024.
• The 5-year median for Operating Expenses is $41.5 million (2022), against an average of $45.1 million.
• Across the five-year window, Operating Expenses jumped 191.35% in 2025 and tumbled 57.87% in 2026, its largest moves.
• Ligand Pharmaceuticals' Operating Expenses stood at $70.5 million in 2022, then sank by 55.37% to $31.5 million in 2023, then jumped by 66.72% to $52.4 million in 2024, then dropped by 12.63% to $45.8 million in 2025, then dropped by 25.03% to $34.4 million in 2026.
• The last three Operating Expenses figures came in at $34.4 million (Q1 2026), $45.8 million (Q4 2025), and $60.5 million (Q3 2025), per Business Quant data.