$LGND Cashflow Statement | Understand Stock

$LGND

$311.73 +$3.43 (1.11%) Close

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of cash flows

In millions of USD, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
Cash flows from operating activities:
Net income (loss)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Gain on sale of Pelican
Change in estimated fair value of contingent liabilities
Depreciation of fixed assets and amortization of intangible assets
Gain from short-term investments
(Gain) loss from change in fair value of equity method investments and other investments
Loss from equity method investment in Primrose Bio
Gain on Pelthos Transaction
Accretion of premium on short-term investments, net
Amortization of debt discount and issuance fees
Loss (gain) on derivative instruments
Gain on debt extinguishment
Non-cash income from financial royalty assets
CECL adjustment to financial royalty assets
Impairment loss of financial royalty assets
Lease amortization expense
Share-based compensation
Deferred income taxes, net
Other
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable, net
Inventory
Other economic rights
Accounts payable and accrued liabilities
Income taxes receivable and payable
Deferred revenue
Other
Other assets and liabilities

Net cash provided by operating activities
Cash flows from investing activities:
Proceeds from sale of Promacta license
Acquisition of financial royalty assets
Acquisition of royalty receivables
Proceeds from financial royalty assets
Purchases of derivatives
Purchases of property and equipment
Purchases of short-term investments
Proceeds from sale of short-term investments
Proceeds from maturity of short-term investments
Cash outflow on deconsolidation of LNHC, Inc.
Cash paid for investment in Primrose Bio
Nucorion
Primrose Bio
Total cash paid for investment in Primrose Bio
Proceeds on sale of Vernalis R&D, net
Cash paid for other investments

Supplemental schedule of non-cash investing and financing activities:
Pelthos shares received in exchange for LNHC, Inc. business
Pelthos shares received for Ligand bridge loan cancellation
Accrued Primrose transaction costs
Addition of right-of-use assets and lease liabilities
Accrued royalty from financial royalty assets
Accrued purchases of financial royalty assets
Accrued debt issuance costs
Accrued fixed asset purchases
Accrued inventory purchases
Unrealized gain (loss) on available-for-sale investments, net of tax
Cash paid for the Agenus Transaction
Cash paid for Apeiron Acquisition, net of cash received
Cash paid for InvIOs investment
Net proceeds from Viking Share Collar and Viking Share Put
Other
Net cash used in investing activities
Cash flows from financing activities:
Gross proceeds from issuance of 2030 Convertible Senior Notes
Debt discount and payment of debt issuance cost
Proceeds from bond hedge settlement
Payments to convert holders for bond conversion
Purchase of 2030 Convertible Senior Notes hedge
Proceeds from issuance of warrants
Repurchase of common stock
Proceeds from common stock issuance, net of commissions and fees
Net cash transferred to OmniAb at OmniAb Separation
Repayment of 2023 Notes at maturity
Payments under finance lease obligations
Cash paid for transaction costs related to OmniAb Transactions
Payments to CVR holders
Net proceeds from stock option exercises and ESPP
Taxes paid related to net share settlement of equity awards
Repurchase of warrants
Proceeds from Pelthos investors bridge loans
Net cash provided by (used) in financing activities

Effect of exchange rate changes on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Supplemental disclosure of cash flow information
Interest paid
Taxes paid
Restricted cash in other current assets

Acquisitions:
Fair value of tangible assets acquired, net of cash and restricted cash received
APEIRON
Novan, Inc.
Total fair value of tangible assets acquired, net of cash and restricted cash received

Deferred tax asset
Goodwill
APEIRON
Novan, Inc.
Total goodwill
Intangible assets
APEIRON
Novan, Inc.
Total intangible assets

Financial royalty assets
APEIRON
Novan, Inc.
Total financial royalty assets

Liabilities assumed
APEIRON
Novan, Inc.
Total liabilities assumed

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