Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v2.4.1.9
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Revenues:    
Royalties $ 10,287us-gaap_RoyaltyRevenue $ 7,850us-gaap_RoyaltyRevenue
Material sales 3,729us-gaap_SalesRevenueGoodsNet 5,715us-gaap_SalesRevenueGoodsNet
Collaborative research and development and other revenues 586lgnd_CollaborativeResearchAndDevelopmentAndOtherRevenues 2,393lgnd_CollaborativeResearchAndDevelopmentAndOtherRevenues
Total revenues 14,602us-gaap_Revenues 15,958us-gaap_Revenues
Operating costs and expenses:    
Cost of sales 1,074us-gaap_CostOfGoodsSold 2,451us-gaap_CostOfGoodsSold
Research and development 3,962us-gaap_ResearchAndDevelopmentExpense 3,131us-gaap_ResearchAndDevelopmentExpense
General and administrative 5,994us-gaap_GeneralAndAdministrativeExpense 5,072us-gaap_GeneralAndAdministrativeExpense
Lease exit and termination costs 223us-gaap_BusinessExitCosts1 204us-gaap_BusinessExitCosts1
Total operating costs and expenses 11,253us-gaap_OperatingCostsAndExpenses 10,858us-gaap_OperatingCostsAndExpenses
Income from operations 3,349us-gaap_OperatingIncomeLoss 5,100us-gaap_OperatingIncomeLoss
Other (expense) income:    
Interest expense, net (2,973)us-gaap_InterestExpense (248)us-gaap_InterestExpense
Increase in contingent liabilities (3)us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInTheRangeOfOutcomesContingentConsiderationLiabilityValueHigh (1,948)us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInTheRangeOfOutcomesContingentConsiderationLiabilityValueHigh
Other, net (447)us-gaap_OtherNonoperatingIncomeExpense (754)us-gaap_OtherNonoperatingIncomeExpense
Total other expense, net (3,423)us-gaap_NonoperatingIncomeExpense (2,950)us-gaap_NonoperatingIncomeExpense
(Loss) income before income taxes (74)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 2,150us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense (15)us-gaap_IncomeTaxExpenseBenefit (53)us-gaap_IncomeTaxExpenseBenefit
(Loss) income from operations (89)us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 2,097us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Net (loss) income including noncontrolling interests: (89)us-gaap_ProfitLoss 2,097us-gaap_ProfitLoss
Less: Net loss attributable to noncontrolling interests (843)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 0us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income $ 754us-gaap_NetIncomeLoss $ 2,097us-gaap_NetIncomeLoss
Per share amounts attributable to Ligand common shareholders:    
Basic and diluted net income per share (in usd per share) $ 0.04us-gaap_EarningsPerShareBasicAndDiluted $ 0.10us-gaap_EarningsPerShareBasicAndDiluted
Weighted average number of common shares-basic (in shares) 19,611,881us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 20,600,683us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Weighted average number of common shares-diluted (in shares) 20,630,788us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 21,208,023us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding