Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v2.4.1.9
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents (including $327 and $756 related to a VIE, respectively) $ 165,766us-gaap_CashAndCashEquivalentsAtCarryingValue $ 160,203us-gaap_CashAndCashEquivalentsAtCarryingValue
Short-term investments 11,459us-gaap_ShortTermInvestments 7,133us-gaap_ShortTermInvestments
Accounts receivable 7,423us-gaap_ReceivablesNetCurrent 12,634us-gaap_ReceivablesNetCurrent
Inventory 2,821us-gaap_InventoryNet 269us-gaap_InventoryNet
Capitalized IPO expenses, VIE 2,408lgnd_CapitalizedInitialPublicOfferingExpenses 2,268lgnd_CapitalizedInitialPublicOfferingExpenses
Other current assets 926us-gaap_OtherAssetsCurrent 1,520us-gaap_OtherAssetsCurrent
Current debt issuance costs 822lgnd_UnamortizedDebtIssuanceExpenseCurrent 809lgnd_UnamortizedDebtIssuanceExpenseCurrent
Current co-promote termination payments receivable 88lgnd_CoPromoteTerminationPaymentsReceivableCurrent 322lgnd_CoPromoteTerminationPaymentsReceivableCurrent
Total current assets 191,713us-gaap_AssetsCurrent 185,158us-gaap_AssetsCurrent
Restricted cash and investments 600us-gaap_RestrictedCashAndInvestmentsNoncurrent 1,261us-gaap_RestrictedCashAndInvestmentsNoncurrent
Property and equipment, net 440us-gaap_PropertyPlantAndEquipmentNet 486us-gaap_PropertyPlantAndEquipmentNet
Intangible assets, net 50,129us-gaap_IntangibleAssetsNetExcludingGoodwill 50,723us-gaap_IntangibleAssetsNetExcludingGoodwill
Goodwill 12,238us-gaap_Goodwill 12,238us-gaap_Goodwill
Commercial license rights 4,568lgnd_CommercialLicenseRights 4,568lgnd_CommercialLicenseRights
Long-term debt issuance costs 3,177us-gaap_UnamortizedDebtIssuanceExpense 3,388us-gaap_UnamortizedDebtIssuanceExpense
Other assets 358us-gaap_OtherAssetsNoncurrent 207us-gaap_OtherAssetsNoncurrent
Total assets 263,223us-gaap_Assets 258,029us-gaap_Assets
Current liabilities:    
Accounts payable (including $2,397 and $2,211 related to a VIE, respectively) 7,442us-gaap_AccountsPayableCurrent 7,698us-gaap_AccountsPayableCurrent
Accrued liabilities 4,263us-gaap_AccruedLiabilitiesCurrent 4,866us-gaap_AccruedLiabilitiesCurrent
Current contingent liabilities 3,692lgnd_CurrentPortionOfLiabilityForContingentValueRights 6,796lgnd_CurrentPortionOfLiabilityForContingentValueRights
Current deferred income taxes 258us-gaap_DeferredTaxLiabilitiesGrossCurrent 257us-gaap_DeferredTaxLiabilitiesGrossCurrent
Current note payable, VIE 348us-gaap_NotesPayableCurrent 334us-gaap_NotesPayableCurrent
Current co-promote termination liability 88lgnd_CoPromoteTerminationLiabilityCurrent 322lgnd_CoPromoteTerminationLiabilityCurrent
Current lease exit obligations 1,999lgnd_ShortTermPortionOfLeaseExitObligations 2,356lgnd_ShortTermPortionOfLeaseExitObligations
Current deferred revenue 67us-gaap_DeferredRevenueCurrent 150us-gaap_DeferredRevenueCurrent
Total current liabilities 18,157us-gaap_LiabilitiesCurrent 22,779us-gaap_LiabilitiesCurrent
Long-term deferred revenue, net 2,085us-gaap_DeferredRevenueNoncurrent 2,085us-gaap_DeferredRevenueNoncurrent
Long-term lease exit obligations 577lgnd_LongTermPortionOfLeaseExitObligations 934lgnd_LongTermPortionOfLeaseExitObligations
Deferred income taxes 2,797us-gaap_DeferredTaxLiabilitiesNoncurrent 2,792us-gaap_DeferredTaxLiabilitiesNoncurrent
Long-term contingent liabilities 8,213lgnd_LiabilityForContingentValueRights 8,353lgnd_LiabilityForContingentValueRights
Long-term debt, net 198,219us-gaap_ConvertibleDebtNoncurrent 195,908us-gaap_ConvertibleDebtNoncurrent
Other long-term liabilities 780us-gaap_OtherLiabilitiesNoncurrent 770us-gaap_OtherLiabilitiesNoncurrent
Total liabilities 230,828us-gaap_Liabilities 233,621us-gaap_Liabilities
Commitments and Contingencies      
Stockholders' equity:    
Common stock, $0.001 par value; 33,333,333 shares authorized; 19,658,357 and 19,575,150 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively 20us-gaap_CommonStockValue 20us-gaap_CommonStockValue
Additional paid-in capital 684,355us-gaap_AdditionalPaidInCapital 680,660us-gaap_AdditionalPaidInCapital
Accumulated other comprehensive income 9,334us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax 4,953us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Accumulated deficit (658,561)us-gaap_RetainedEarningsAccumulatedDeficit (659,315)us-gaap_RetainedEarningsAccumulatedDeficit
Total stockholders' equity attributable to Ligand Pharmaceuticals 35,148us-gaap_StockholdersEquity 26,318us-gaap_StockholdersEquity
Noncontrolling interests (2,753)us-gaap_MinorityInterest (1,910)us-gaap_MinorityInterest
Total liabilities and stockholders' equity $ 263,223us-gaap_LiabilitiesAndStockholdersEquity $ 258,029us-gaap_LiabilitiesAndStockholdersEquity