LIGAND PHARMACEUTICALS INC (LGND)
CIK 886163 · all EDGAR filings →
Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.
Shares outstanding over time
Latest: 19.9M shares as of Aug 4, 2026 (10-Q).
Cash runway
Self-funding
profitable · generates cash
Full breakdown: cash runway tool · source filing →
Warrants
| Tranche | Warrants | Exercise price | Term | Notes |
|---|---|---|---|---|
| Initial Purchaser Warrants | 2.4M | not tagged | — | — |
| A2031 Notes Option | 2.1M | $524.34 | — | — |
| Acecor Warrants | 1.0M | not tagged | 10y | — |
| Orchestra Warrant | not tagged | not tagged | 9.1y | — |
| Series A Warrants | not tagged | not tagged | 0.4y | — |
| Leaona Bio Series B Warrants | not tagged | not tagged | 1.1y | — |
| Castle Creek Warrants | not tagged | not tagged | 4.2y | — |
| Convertible Note Hedge and Warrant | not tagged | $334.27 | — | — |
Tranches exactly as the company dimensioned them in its 10-Q filed Aug 7, 2026 →. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.
Warrants outstanding: 0 underlying shares, as reported Sep 30, 2021 (10-Q).
Reported exercise price: $1.5 (aggregate figure as tagged; individual tranches vary).
Balance-sheet fair value of warrants: $0 as of Dec 31, 2022.
Rough fully diluted estimate: 19.9M = 19.9M O/S + 0 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.
Convertible notes
| Note | Principal | Carrying | Conv. price | Rate | If converted |
|---|---|---|---|---|---|
| Convertible Senior Notes Due 2031 | $700.0M | $700.0M | $334.27 | 0% | ~2.1M sh |
| Convertible Senior Notes Due 2030 | $460.0M | $460.0M | $194.79 | 0.75% | ~2.4M sh |
| Convertible Senior Notes Due 2031 Initial Purchase Option | $75.0M | — | not tagged | — | — |
| Convertible Senior Notes Due 2030 Initial Purchase Option | $60.0M | — | not tagged | — | — |
If every note above converted at its tagged price: ~4.5M new shares on 19.9M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.
Notes exactly as the company dimensioned them in its 10-Q filed Aug 7, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.
Fully diluted build-up
Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.
| Shares outstanding | 19.9M | Aug 4, 2026 |
| + Initial Purchaser Warrants (if exercised) | 2.4M | Aug 14, 2025 |
| + A2031 Notes Option (if exercised) | 2.1M | Jun 30, 2026 |
| + Acecor Warrants (if exercised) | 1.0M | Sep 24, 2025 |
| + Convertible Senior Notes Due 2031 (if fully converted) | 2.1M | Jun 30, 2026 |
| + Convertible Senior Notes Due 2030 (if fully converted) | 2.4M | Aug 31, 2025 |
| Fully diluted estimate | 29.8M | +49.7% vs O/S |
Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.
Registrations and offerings
Registered offering capacity on live registrations: $100.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted
Last 12 months: 1 executed · 1 registered.
Full history and shelf status: offering checker · S-3 shelf checker
Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.
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