Ligand Pharmaceuticals (LGND) Research & Development (2010 - 2026)
Ligand Pharmaceuticals (LGND) posted Research & Development of $2.1 million for Q1 2026, down 38.82% sequentially from $3.5 million in Q4 2025, and down 95.71% YoY from $50.1 million in Q1 2025.
Ligand Pharmaceuticals (LGND) Research & Development (2010 - 2026) Analysis & Trends
Ligand Pharmaceuticals has reported Research & Development for 17 years, with the latest figure at $2.1 million in Q1 2026.
- Quarterly Research & Development fell 95.71% year-over-year to $2.1 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $33.2 million (down 49.27% YoY) and the FY2025 annual result came in at $81.2 million, up 278.91% from the prior year.
- Research & Development retreated to $2.1 million in Q1 2026 per LGND's latest filing, from $3.5 million in the prior quarter.
- Over five years, Research & Development peaked at $50.1 million in Q1 2025 and troughed at $2.1 million in Q1 2026.
- A 5-year average of $9.7 million and a median of $6.6 million in 2025 frame the typical range for Research & Development.
- The sharpest annual moves came in 2025 and 2026: Research & Development jumped 738.8% in 2025, then slumped 95.71% in 2026.
- Over 5 years, Research & Development stood at $9.2 million in 2022, then tumbled by 40.33% to $5.5 million in 2023, then slipped by 19.37% to $4.4 million in 2024, then declined by 20.66% to $3.5 million in 2025, then tumbled by 38.82% to $2.1 million in 2026.
- According to Business Quant data, Research & Development over the past three periods registered $2.1 million, $3.5 million, and $21.0 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 1.37 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 394.92 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 612.28 Mn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 1,146.05 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 97.90 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 413.13 Mn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 210.03 Mn |
| 10 | Ligand Pharmaceuticals | 5.87 Bn | 4.51 Bn | 60.48 Mn | 14.67 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 14.67 Mn |
| Mar 31, 2026 | 2.15 Mn |
| Dec 31, 2025 | 3.51 Mn |
| Sep 30, 2025 | 21.02 Mn |
| Jun 30, 2025 | 6.57 Mn |
| Mar 31, 2025 | 50.09 Mn |
| Dec 31, 2024 | 4.43 Mn |
| Sep 30, 2024 | 5.68 Mn |
| Jun 30, 2024 | 5.35 Mn |
| Mar 31, 2024 | 5.97 Mn |
| Dec 31, 2023 | 5.49 Mn |
| Sep 30, 2023 | 5.53 Mn |
| Jun 30, 2023 | 6.85 Mn |
| Mar 31, 2023 | 6.66 Mn |
| Dec 31, 2022 | 9.20 Mn |
| Sep 30, 2022 | 9.24 Mn |
| Jun 30, 2022 | 8.47 Mn |
| Mar 31, 2022 | 9.18 Mn |
| Dec 31, 2021 | 8.15 Mn |
| Sep 30, 2021 | 7.43 Mn |