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PDL BIOPHARMA, INC.

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2020 10-K, filed Mar 29, 2021. Its latest SEC filing is a SCHEDULE 13G from Aug 13, 2026.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Provides loans to healthcare companies and collects royalties from product sales and patents covering antibody humanization.

How Did They Make Money?

Earns income from loans to healthcare borrowers and royalty rights tied to product sales; the CareView loan agreement called for quarterly interest payments.

FY2019 revenue

Did Revenues Turn Into Profits?

No. It lost $70.4M in FY2019.

Operating income, FY2019
−166% of revenue
▲ +50% (Loss) vs FY2018 (−$34.2M, −107%)
Net income, FY2019
−229% of revenue
▲ +2% (Loss) vs FY2018 (−$68.9M, −215%)
Free cash flow, FY2019
−108% of revenue
▲ +128% (Loss) vs FY2018 (−$14.5M, −45%)

How Were They Changing?

Shrank. Revenue fell 95% in 4 years, from $590.4M in FY2015 to $30.7M in FY2019, about 52% a year.

From investing to winding down The older business description focused on building a portfolio through loans, royalty deals and commercial product acquisitions. The latest report instead describes monetizing assets, pursuing liquidation and distributing proceeds to stockholders.

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