Ligand raises EPS guidance floor, closes XOMA Royalty deal, reports pipeline progress
Filspari's FSGS launch, Capvaxive's pediatric expansion, and volixibat's Breakthrough Therapy tag headline a quarter that also saw a $700 million convertible note deal and the XOMA acquisition close.
Ligand Pharmaceuticals reported second-quarter 2026 results on August 6, 2026, alongside an update on regulatory and clinical progress across its royalty portfolio. On April 13, 2026, Travere announced the FDA approved Filspari to reduce proteinuria in adult and pediatric patients aged 8 years and older with focal segmental glomerulosclerosis, in patients without nephrotic syndrome.1 Travere reported U.S. net product sales of Filspari of $141 million on August 4, 2026, representing 96% year-over-year growth.1
On June 18, 2026, Merck announced the FDA approved an expanded indication for Capvaxive to include children and adolescents aged 2 through 17 years with chronic medical conditions putting them at increased risk for pneumococcal disease.1
In the volixibat program, the company's partner announced on May 4, 2026 that the primary endpoint was met in the VISTAS Phase 2b study evaluating volixibat in patients with primary sclerosing cholangitis, demonstrating a statistically significant 2.72 point reduction in cholestatic pruritus.1 On August 5, 2026, the partner announced volixibat was granted Breakthrough Therapy Designation for cholestatic pruritus due to PSC, and a pre-NDA meeting was held with additional discussions planned before potential NDA submission.1 Separately, enrollment was completed in the VANTAGE Phase 2b study of volixibat in cholestatic pruritus due to primary biliary cholangitis, with topline results expected in Q1 2027.1
On June 25, 2026, Ligand completed a $700 million offering of 0.00% convertible senior notes due 2031, generating net proceeds of approximately $679 million.1 On July 14, 2026, Ligand announced completion of its acquisition of XOMA Royalty.1 The portfolio has more than doubled in size, now comprising over 200 commercial, clinical, and preclinical stage royalty assets.1
Ligand reaffirmed 2026 revenue guidance while raising the low end of adjusted EPS guidance to approximately $9.00 to $9.50, up from $8.50 to $9.50.1 Cash, cash equivalents, and short-term investments stood at $1.36 billion as of June 30, 2026, compared with $733.5 million at year-end 2025.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.