Ligand Pharmaceuticals Incorporated (LGND) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the Ligand second quarter 2025 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press the star one again. For operator assistance throughout the call, please press star zero and finally I would like to advise all participants that this call is being recorded. Thank you. I'd now like to welcome Melanie Herman, the executive director of investor relations to begin the conference. Melanie, over to you. Good morning, everyone, and welcome to Ligand second quarter 2025 earnings call. During the call today, we will review the financial results we released earlier today and provide commentary on our partner pipeline and business development activity, followed by a question and answer session. Before we get started, I would like to point out that we will be discussing non-GAP results, which excludes certain items such as stock-based compensation, amortization of intangible assets, amortization or impairment of financial assets, losses from derivative assets, and expenses incurred to incubate the Peltos business, amongst others. I encourage you to review the reconciliation of these non-GAP measures to their most directly comparable GAP measures, which can be found in today's release available on our website. We believe these adjusted measures provide valuable insight into our core operating performance, both historically and moving forward. Our earnings release and a link to today's webcast can be found in the investor relations section of our website at ligand.com. With me on th...