Ligand Pharmaceuticals Experiences Strong Q2 Earnings with Robust Revenue Growth, Successful Mergers and Investments, and Raised Financial Guidance.

Ligand Pharmaceuticals reported a 15% YoY increase in Q2 revenue to $47.6 million, driven by a 57% rise in royalty revenue. The company completed a strategic merger with Pelthos and raised its full-year 2025 revenue guidance to $200-225 million. However, it also experienced increased R&D and G&A expenses and expressed cautious expectations for new product launches. Ligand expects peak sales of $175 million for Zelsuvmi and plans to invest $40 million in cardiovascular therapies.