
Ligand Pharmaceuticals Incorporated (LGND) Analyst/Investor Day December 9, 2025 10:30 AM EST
Company Participants
Melanie Herman Todd Davis - CEO & Director Octavio Espinoza - Chief Financial Officer Paul Hadden - Senior Vice President of Investments & Business Development Richard Baxter - Senior VP of Investment Operation Scott Plesha - CEO of Pelthos Therapeutics Lauren Hay Karen Reeves - Senior VP of Investments & Head of Clinical Strategy
Conference Call Participants
Joseph Pantginis - H.C. Wainwright & Co, LLC, Research Division Yigal Nochomovitz - Citigroup Inc., Research Division Annabel Samimy - Stifel, Ni…

Ligand Pharmaceuticals Incorporated (LGND) Analyst/Investor Day December 9, 2025 10:30 AM EST
Company Participants
Melanie Herman Todd Davis - CEO & Director Octavio Espinoza - Chief Financial Officer Paul Hadden - Senior Vice President of Investments & Business Development Richard Baxter - Senior VP of Investment Operation Scott Plesha - CEO of Pelthos Therapeutics Lauren Hay Karen Reeves - Senior VP of Investments & Head of Clinical Strategy
Conference Call Participants
Joseph Pantginis - H.C. Wainwright & Co, LLC, Research Division Yigal Nochomovitz - Citigroup Inc., Research Division Annabel Samimy - Stifel, Nicolaus & Company, Incorporated, Research Division David Risinger - Leerink Partners LLC, Research Division Matthew Hewitt - Craig-Hallum Capital Group LLC, Research Division
Presentation
Melanie Herman
Good morning, everyone, and welcome to Ligand’s 2025 Investor Day. I’m Melanie Herman, Head of Investor Relations for Ligand. And on behalf of our entire team, I’d like to thank you for taking the time to join us today, whether in person or via webcast.
I’d like to touch on a few logistical points. There will be a question-and-answer session immediately following today’s formal presentation. And if you’re dialing in via webcast, you can submit any questions in the online call manager. For those of you joining us in person, we hope you’ll join us for lunch after the presentation.
Today, we’ll be discussing certain non-GAAP financial measures, and some of those will be forward-looking. We’d like to refer you to the safe harbor statement in these forward-looking statements, which are subject to risks and uncertainties. Actual results or events may differ from those projected or discussed and all forward-looking statements are based on all current available information. There’s no obligation to update these statements.
And with that, I’d like to introduce our CEO, Todd Davis.
Todd Davis CEO & Director
Thank you, Melanie. Good morning, everyone, and I just want to say thank you