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Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30

revenues and other income:
revenue from intangible royalty assets	40,161,000	30,084,000	21,587,000	27,817,000	26,552,000	22,603,000	18,357,000
income from financial royalty assets	6,425,000	6,313,000	5,902,000	6,990,000	5,157,000	559,000	738,000
royalties	46,586,000	36,397,000	27,489,000	34,807,000	31,709,000	23,162,000	19,095,000	15,361,750	23,863,000	20,430,000	17,154,000	21,036,000	19,837,000	17,959,000	13,695,000	17,551,000	15,648,000	8,616,000	7,112,000	11,045,000	9,005,000	7,181,000	6,565,000	11,045,000	9,767,000	6,626,000	19,538,000	40,213,000	36,127,000	31,396,000	20,820,000	28,313,000	21,931,000	14,211,000	24,230,000	19,581,000	15,698,000	9,754,000	14,390,000	11,546,000	9,755,000	6,606,000	10,287,000	9,421,000	7,482,000	5,241,000	7,850,000	7,118,000	5,724,000	4,916,000	5,826,000	4,817,000	3,213,000	2,983,000	3,060,000	2,616,000	2,431,000	2,172,000	1,993,000	1,942,000	1,774,000	1,601,000	1,962,000	1,948,000	1,651,000	2,006,000	2,730,000	5,389,000	5,248,000	4,804,000	4,874,000	6,180,000	5,229,000	1,410,000
captisol	10,672,000	8,287,000	13,460,000	7,916,000	6,255,000	7,500,000	9,212,000	6,112,500	8,608,000	5,220,000	10,622,000	26,879,000	35,949,000	29,545,000	12,122,000	35,375,000	35,093,000	62,509,000	31,272,000	40,993,000	23,389,000	24,468,000	21,109,000
contract revenue and other income	58,203,000	2,943,000	4,384,000	89,000	13,848,000	10,869,000	2,671,000
total revenues and other income	115,461,000	47,627,000	45,333,000	42,812,000	51,812,000	41,531,000	30,978,000
operating costs and expenses:
cost of captisol	3,801,000	2,907,000	4,849,000	2,837,000	2,449,000	2,906,000	2,882,000	2,217,750	3,485,000	1,669,000	3,717,000	21,614,000	14,153,000	12,361,000	4,699,000	11,984,000	11,446,000	30,593,000	8,153,000	11,739,000	6,353,000	7,644,000	4,683,000
amortization of intangibles	8,097,000	8,258,000	8,257,000	8,258,000	8,258,000	8,257,000	8,186,000	6,329,000	8,238,000	8,539,000	8,539,000	-1,218,000	11,818,000	11,824,000	11,813,000	11,776,000	11,827,000	11,779,000	11,786,000	12,157,000	3,875,000	3,875,000	3,535,000	6,304,000	3,552,000	3,505,000	3,503,000	3,483,000	5,725,000	3,305,000	3,278,000	3,994,000	2,706,000	2,706,000	2,715,000	2,731,000	2,706,000	2,681,000	2,524,000
research and development	21,019,000	6,567,000	50,085,000	4,425,000	5,675,000	5,354,000	5,971,000	4,762,250	5,532,000	6,854,000	6,663,000	-25,379,000	22,036,000	19,118,000	20,307,000	18,243,000	16,938,000	15,953,000	17,879,000	21,916,000	12,853,000	12,732,000	11,891,000	18,664,000	13,742,000	12,213,000	11,289,000	8,840,000	5,483,000	6,135,000	7,407,000	8,633,000	4,759,000	4,822,000	8,673,000	6,408,000	5,898,000	4,507,000	4,004,000	2,870,000	2,538,000	4,010,000	3,962,000	3,280,000	3,021,000	2,689,000	3,131,000	2,374,000	2,414,000	2,022,000	2,465,000	2,475,000	2,647,000	2,850,000	2,817,000	2,598,000	2,471,000	3,237,000	1,986,000	3,155,000	4,935,000	6,602,000	7,362,000	10,126,000	9,921,000	9,470,000	10,462,000	11,063,000	6,165,000	6,377,000	7,165,000	34,785,000	9,838,000	8,751,000	15,602,000	31,458,000	10,468,000	13,895,000	12,218,000	13,905,000	12,911,000	14,524,000	14,735,000	47,030,000	18,174,000	16,852,000	16,483,000	17,696,000	16,859,000	16,640,000	16,370,000	15,641,000
general and administrative	28,446,000	20,175,000	18,801,000	25,605,000	24,475,000	17,623,000	10,951,000	9,199,500	14,656,000	11,287,000	10,855,000	19,852,000	17,445,000	14,585,000	18,180,000	17,736,000	12,718,000	14,711,000	12,617,000	30,082,000	15,020,000	10,069,000	9,264,000	10,277,000	9,525,000	10,994,000	11,088,000	11,163,000	9,633,000	9,294,000	7,643,000	7,749,000	7,032,000	6,549,000	7,322,000	6,626,000	6,305,000	6,863,000	6,825,000	6,188,000	4,971,000	7,225,000	5,994,000	5,517,000	6,742,000	5,239,000	5,072,000	4,420,000	4,756,000	4,306,000	4,502,000	4,284,000	4,382,000	3,940,000	3,503,000	2,831,000	4,112,000	3,855,000	4,180,000	3,466,000	3,074,000	3,290,000	3,048,000	3,021,000	2,415,000	2,831,000	6,817,000	3,206,000	5,929,000	4,551,000	10,099,000	25,554,000	4,856,000	7,516,000	14,167,000
financial royalty assets impairment				4,081,000		26,491,000
fair value adjustments to partner program derivatives	-833,000	1,276,000	-443,000	7,243,000	7,812,000
total operating costs and expenses	60,530,000	39,183,000	81,549,000	52,449,000	48,669,000	60,631,000	27,990,000	22,508,500	31,911,000	28,349,000	29,774,000	14,869,000	65,452,000	57,888,000	54,999,000	59,739,000	49,129,000	38,936,000	50,435,000	75,894,000	38,101,000	34,320,000	29,373,000	37,182,000	29,966,000	29,117,000	29,738,000	26,441,000	22,301,000	19,868,000	19,116,000	22,114,000	16,882,000	14,980,000	19,051,000	18,831,000	16,153,000	15,145,000	14,552,000	10,176,000	9,104,000	14,053,000	11,253,000	13,362,000	11,441,000	9,250,000	10,858,000	8,311,000	9,935,000	8,066,000	7,719,000	9,243,000	7,697,000	7,472,000	6,401,000	7,633,000	9,566,000	8,699,000	6,540,000	10,327,000	23,903,000	9,892,000	10,410,000	13,147,000	27,571,000	12,742,000	17,279,000	86,269,000	12,094,000	10,928,000	17,264,000	60,339,000	14,694,000	16,267,000	29,769,000	261,077,000	51,772,000	59,437,000	188,057,000	49,747,000	48,271,000	52,306,000	52,755,000	149,158,000	51,725,000	46,878,000	46,958,000	39,477,000	38,196,000	35,686,000	32,865,000	32,053,000
operating income	54,931,000	8,444,000	-36,216,000
yoy
qoq	550.53%	-123.32%
operating margin %
non-operating income and expenses:
gain from short-term investments	7,798,000	939,000	-12,367,000	-23,899,000	2,407,000	-14,256,000	110,772,000	7,585,000	-13,184,000	3,991,000	39,533,000	44,249,000	-923,000	-1,909,000	-12,877,000	-12,132,000	1,937,000	-6,864,000	13,061,000			23,460,000
gain from change in fair value of equity-method investments and other investments	75,887,000
interest income	3,874,000	1,621,000	1,771,000	1,931,000	1,347,000	2,757,000	2,020,000	1,504,500	2,263,000	2,320,000	1,435,000	1,023,000	591,000	298,000	134,000	188,000	169,000	233,000	296,000	388,000	991,000	1,969,000	4,730,000	5,840,000	7,396,000	9,285,000	5,909,000	4,888,000	5,474,000	2,762,000																									17,000		1,000	0	37,000	53,000	59,000	118,000	210,000	150,000	176,000	120,000	139,000	262,000	421,000	543,000	935,000	7,109,000	1,546,000	2,534,000	3,279,000	3,203,000	577,000	587,000	573,000	565,000	483,000	398,000	444,000	888,000	208,000	231,000	264,000	136,000	140,000	243,000	246,000	177,000
interest expense	-910,000	-1,153,000	-867,000	-883,000	-741,000	-1,268,000	-141,000	-131,250	-1,000	-284,000	-240,000	-240,000	-332,000	-438,000	-789,000	-4,472,000	-4,439,000	-4,883,000	-5,831,000	-6,390,000	-6,269,000	-6,213,000	-8,548,000	-8,834,000	-8,993,000	-9,012,000	-8,906,000	-20,143,000	-11,200,000	-13,454,000	-2,605,000	-2,775,000	-2,822,000	-2,860,000	-2,941,000	-3,006,000	-3,116,000	-3,051,000	-3,005,000	-2,927,000	-2,930,000	-2,969,000	-2,973,000	-2,914,000	-1,516,000	-181,000	-248,000	-322,000	-394,000	-453,000	-912,000	-615,000	-838,000	-847,000	-792,000	-715,000	-700,000	-674,000	-423,000	-19,000	-8,000	-13,000	-18,000	-13,000	-21,000	-42,000	-194,000	-66,000	-45,000	-39,000	-52,000	-592,000	-143,000	-90,000	-370,000	-8,067,000	-2,547,000	-6,156,000	-6,067,000	-3,129,000	-3,172,000	-3,030,000	-3,127,000			-3,091,000				-2,682,000
other non-operating expense	-443,000	1,372,000	-2,501,000	-12,051,500	-12,495,000	-33,523,000
total non-operating income (expenses)	86,206,000	2,779,000
income before income taxes	141,137,000	11,223,000	-50,180,000									-4,979,750	857,000	-636,000	-20,140,000	13,581,000	15,259,000	33,301,000	5,764,000	-3,477,000	-11,612,000	28,119,000	-30,415,000	201,203,500	-19,871,000	-18,028,000	842,713,000	57,529,750	79,226,000	95,579,000	55,312,000	6,641,500	12,071,000	8,300,000	6,193,000	182,750	1,211,000	-9,644,000	9,571,000	7,375,250	7,284,000	22,292,000	-74,000	1,072,750	901,000	1,241,000	2,150,000	1,800,000	2,025,000	3,804,000	1,370,000	-1,203,750	-52,000	-3,728,000	-522,000	-2,237,250	-3,884,000	-773,000	-4,292,000	-3,454,000	-11,436,000	335,000	-2,715,000	-2,726,500	1,055,000	-4,476,000	-7,482,000	-5,887,750	-6,134,000	-5,919,000	-11,498,000	-46,234,000	-7,222,000	-11,911,000	-26,083,000	-157,304,000	-16,969,000	-15,940,000	-142,212,000	-8,405,750	-6,264,000	-8,907,000	-18,452,000
income tax expense	-23,864,000						-27,308,000				-11,922,000																-176,376,000	14,307,000	-11,864,000	-22,419,000	-10,033,000				-1,114,000				-3,694,000				-15,000	-32,750	-124,000		-53,000	-59,250	-60,000	-110,000										-329,500	-419,000	-625,000	274,000															-18,000	-17,000	-5,000	-17,000	-17,000	-20,000
net income	117,273,000	4,847,000	-42,451,000	6,764,000	-7,172,000	-51,911,000	86,139,000	8,491,500	-10,273,000	2,290,000	41,949,000	-3,969,000	404,000	-895,000	-15,385,000	-5,416,000	13,723,000	30,725,000	18,106,000	5,761,000	-6,701,000	22,086,000	-24,131,000	-7,365,000	-15,251,000	-14,419,000	666,337,000	-185,802,993.23	67,362,000	73,160,000	45,279,000	-7,010,000	8,426,000	6,058,000	5,079,000	-3,126,000	1,051,000	-5,763,000	6,608,000	8,448,000	224,539,000	23,564,000	754,000	7,055,000	1,280,000	0.08	0.1	11,419,999.53	0.1	0.3	0.07	-526,999.92	-0.01	-0.11	0.07	10,175,999.76	-0.2	-0.05	0.48	-10,372,999.24	-0.6	0	-0.02	-1,947,999.96	0.02	-0.01	-5,116,000	-69,627,000	-18,125,000	-0.07	-0.04	280,440,000	1,248,000	181,000	274,321,000	-16,825,000	-14,918,000	-15,958,000	-142,229,000	-2,722,000	-6,281,000	-8,924,000	-18,472,000			-13,139,000				-20,320,000
yoy	-1735.15%	-109.34%	-149.28%	-20.34%	-30.19%	-2366.86%	105.34%	-313.95%	-2642.82%	-355.87%	-372.66%	-26.72%	-97.06%	-102.91%	-184.97%	-194.01%	-304.79%	39.12%	-175.03%	-178.22%	-56.06%	-253.17%	-103.62%	-96.04%	-122.64%	-119.71%	1371.62%	2550.54%	699.45%	1107.66%	791.49%	124.25%	701.71%	-205.12%	-23.14%	-137.00%	-99.53%	-124.46%	776.39%	19.74%	17442.11%	29454999900.00%	753999900.00%	-38.22%	1279999900.00%	-73.33%	42.86%	-2266.98%	-1100.00%	-372.73%	0.00%	-105.18%	-95.00%	120.00%	-85.42%	-198.10%	-66.67%		-2500.00%	432.49%	-3100.00%		-100.00%	-97.20%	-100.00%	-85.71%	12789999900.00%	-124.83%	-1552.32%	-100.00%	-100.00%	-1766.81%	-108.37%	-101.13%	-292.87%	518.11%	137.51%	78.82%	669.97%			-32.08%				-35.34%
qoq	2319.50%	-111.42%	-727.60%	-194.31%	-86.18%	-160.26%	914.41%	-182.66%	-548.60%	-94.54%	-1156.92%	-1082.43%	-145.14%	-94.18%	184.07%	-139.47%	-55.34%	69.70%	214.29%	-185.97%	-130.34%	-191.53%	227.64%	-51.71%	5.77%	-102.16%	-458.63%	-375.83%	-7.93%	61.58%	-745.92%	-183.19%	39.09%	19.28%	-262.48%	-397.43%	-118.24%	-187.21%	-21.78%	-96.24%	852.89%	3025.20%	-89.31%	451.17%	1599999900.00%	-20.00%	-100.00%	11419999430.00%	-66.67%	328.57%	-100.00%	5269999100.00%	-90.91%	-257.14%	-100.00%	-5087999980.00%	300.00%	-110.42%	-100.00%	1728833106.67%			-100.00%	-9739999900.00%	-300.00%	-100.00%	-92.65%	284.15%	25892857042.86%	75.00%	-100.00%	22371.15%	589.50%	-99.93%	-1730.44%	12.78%	-6.52%	-88.78%	5125.17%	-56.66%	-29.62%	-51.69%
net income margin %
basic net income per share	5.99	0.25	-2.21	-1.72	-0.39	-2.88	4.86	0.493	-0.59	0.13	2.46	-1.04	0.02	-0.05	-0.91	-0.33	0.82	1.84	1.1	0.36	-0.42	1.38	-1.46	0.62	-0.81	-0.74	32.59	2.193	3.19	3.45	2.13									3.153	11.29	1.19
shares used in basic per share calculation	19,578	19,327	19,191	229	18,419	18,028	17,732	4,310.25	17,380	17,276	17,063
diluted net income per share	5.68	0.24	-2.21	-1.68	-0.39	-2.88	4.75	0.478	-0.59	0.13	2.33	-1.04	0.02	-0.05	-0.91	-0.33	0.8	1.79	1.05	0.36	-0.42	1.32	-1.46	0.56	-0.81	-0.74	31.32	1.903	2.8	2.99	1.83									2.945	10.46	1.11
shares used in diluted per share calculation	20,629	19,926	19,191	-284	18,419	18,028	18,122	4,446	17,380	17,730	17,974
income tax benefit		-6,376,000	7,729,000	-3,665,500	-833,000	13,479,000		-2,733,000	1,871,000	-881,000		-45,273,000	-453,000	-259,000	4,755,000	1,610,000	-1,536,000	-2,576,000	12,342,000	2,391,000	4,911,000	-6,033,000	6,284,000	-42,036,750	4,620,000	3,609,000						-37,675,000	-3,645,000	-2,242,000		-10,355,000	-160,000	3,881,000		54,244,000	217,255,000	-265,000				47,000					-66,000	-111,250	-142,000	-338,000	35,000	-3,405,000	22,000	141,000	-13,778,000									-44,750	-2,990,000	1,030,000	1,781,000	16,337,000	2,360,000	4,225,000	9,194,000	37,586,000	828,000
total non-operating (expenses) income			-13,964,000	13,671,750	-9,482,000	-46,290,000
gain on sale of pelican								-530,250	-2,121,000
operating income from continuing operations				-9,637,000	3,143,000	-19,100,000	2,988,000	3,825,000	3,078,000	-1,983,000	14,205,000
income before income taxes from continuing operations				10,429,500	-6,339,000	-65,390,000	113,447,000	11,640,750	-12,144,000	3,171,000	55,536,000
net income from continuing operations				-31,088,000	-7,172,000	-51,911,000	86,139,000	8,907,750	-10,273,000	2,290,000	43,614,000
net income from discontinued operations								-416,250			-1,665,000
basic net income from continuing operations per share				-1.72	-0.39	-2.88	4.86	0.518	-0.59	0.13	2.56
basic net income from discontinued operations per share								-0.025			-0.1
diluted net income from continuing operations per share				-1.68	-0.39	-2.88	4.75	0.5	-0.59	0.13	2.43
diluted net income from discontinued operations per share								-0.023			-0.09
gain on derivative instruments							196,000
other non-operating income							-2,388,000
total non-operating income and expenses							110,459,000
revenues:
contract revenue								4,329,000	397,000	716,000	16,203,000	-20,870,000	10,302,000	9,915,000	19,876,000	19,547,000	14,094,000	13,550,000	16,766,000	17,952,000	9,454,000	5,189,000	2,130,000
total revenues								25,803,250	32,868,000	26,366,000	43,979,000	27,045,000	66,088,000	57,419,000	45,693,000	72,473,000	64,835,000	84,675,000	55,150,000	69,990,000	41,848,000	41,420,000	33,161,000	27,003,000	24,808,000	24,987,000	43,484,000	59,590,000	45,663,000	90,043,000	56,157,000	50,464,000	33,375,000	27,995,000	29,267,000	38,186,000	21,619,000	19,521,000	29,648,000	21,192,000	17,701,000	18,418,000	14,602,000	22,999,000	14,973,000	10,608,000	15,958,000	14,736,000	13,005,000	9,580,000	11,651,000	13,635,000	6,375,000	5,742,000	5,636,000	12,936,000	5,741,000	7,463,000	3,896,000	3,940,000	7,802,000	5,838,000	5,958,000	13,977,000	7,901,000	7,594,000	9,470,000	12,389,000	5,248,000	4,804,000	4,874,000	7,415,000	5,479,000	1,410,000		104,253,000	36,707,000	48,447,000	50,956,000	49,068,000	44,756,000	45,799,000	36,985,000	123,052,000	40,460,000	36,612,000	57,608,000	31,283,000	29,126,000	23,123,000	27,323,000	25,266,000
other income:
other income								-1,142,500	-4,300,000	-873,000	603,000	-1,278,000	885,000	1,882,000	2,698,000	-3,344,000	1,886,000	-924,000	-6,477,000	-2,048,000	-219,000	1,803,000	-4,928,000	-3,482,000	-2,596,000	-1,806,000	1,874,000	-664,000	-808,000	-3,867,000	739,000	4,066,000	755,000	218,000	141,000	612,000	1,215,000	501,000
total other income								7,815,750	-15,222,000	5,154,000	41,331,000	43,754,000	221,000	-167,000	-10,834,000	-19,760,000	-447,000	-12,438,000	1,049,000	-7,840,000	-15,359,000	21,019,000	-34,203,000	2,004,000	-14,713,000	-13,898,000	16,170,000	-89,938,000	55,864,000	25,404,000	18,271,000	2,315,000	-4,422,000	-4,715,000	-4,023,000	-12,126,000	-4,255,000	-14,020,000	-5,525,000	-5,188,000	-1,313,000	17,927,000	-3,423,000	-2,626,000	-2,631,000	-117,000	-2,950,000	-4,419,000	-1,045,000	2,290,000	-2,562,000	-3,442,000	1,270,000	-1,998,000	243,000	269,000	-485,000	37,000	-2,074,000	4,375,000	4,239,000	3,963,000	1,311,000	-221,000	281,000	181,000	-164,000	-575,000	221,000	-286,000	401,000	5,217,000	1,502,000	2,455,000	2,960,000	-3,599,000	-1,904,000	-4,950,000	-5,111,000	-2,038,000	-2,749,000	-2,400,000	-2,682,000			-2,873,000				-7,757,000
other operating income																	-3,800,000	-34,100,000
income from operations												-2,284,750	636,000	-469,000	-9,306,000	12,734,000	15,706,000	45,739,000	4,715,000	11,210,000	3,747,000	7,100,000	3,788,000	-10,179,000	-5,158,000	-4,130,000	826,543,000	33,149,000	23,362,000	70,175,000	37,041,000	28,350,000	16,493,000	13,015,000	10,216,000	19,355,000	5,466,000	4,376,000	15,096,000	11,016,000	8,597,000	4,365,000	3,349,000	9,637,000	3,532,000	1,358,000	5,100,000	6,425,000	3,070,000	1,514,000	3,932,000	-954,500	-1,322,000	-1,730,000	-765,000	5,728,000	-3,399,000	-810,000	-2,218,000	-5,962,000	-15,675,000	-3,628,000	-4,026,000	1,255,000	774,000	-4,657,000	-7,318,000	-73,389,000	-6,355,000	-5,633,000	-11,899,000	-51,451,000	-8,724,000	-14,366,000	-29,043,000	-153,705,000	-15,065,000	-10,990,000	-137,101,000	-679,000	-3,515,000	-6,507,000	-15,770,000			-10,266,000				-12,563,000
shares used in basic per share calculations												4,215	16,888	16,868	16,824	4,148.75	16,688	16,659	16,435	4,055.5	16,082	16,055	16,529	4,896.5	18,770	19,558	20,447	5,297.25	21,148	21,212	21,209
shares used in diluted per share calculations												4,215	17,132	16,868	16,824	4,296.75	17,142	17,172	17,248	4,055.5	16,082	16,694	16,529	5,087.25	18,770	19,558	21,277	6,107.5	24,052	24,438	24,800
gain from sale of promacta license																											812,797,000
income from short-term investments																				-4,285,750	-9,862,000
service revenue																						4,582,000	3,357,000
gain from viking																							-25,457,000	8,480,000	-10,520,000	-12,365,000	17,293,000	-74,019,000	62,398,000	39,963,000	21,097,000
material sales																								7,132,000	6,849,000	8,549,000	8,959,000	10,093,000	7,027,000	7,612,000	4,391,000	7,734,000	7,664,000	5,550,000	1,121,000	9,057,000	4,219,000	3,886,000	5,341,000	7,206,000	6,046,000	10,681,000	3,729,000	12,963,000	6,334,000	3,476,000	5,715,000	6,812,000	6,728,000	3,993,000	1,539,000	5,282,000	1,818,000	1,665,000	667,000	6,410,000	1,679,000	2,984,000	1,019,000
license fees, milestones and other revenues																								8,826,000	8,192,000	9,812,000	14,987,000	9,284,000	2,509,000	51,035,000	30,946,000	14,417,000	3,780,000	8,234,000	3,916,000	9,548,000	1,702,000	5,881,000	9,917,000
cost of material sales																								1,937,000	3,147,000	2,405,000	3,858,000
cost of sales																												845,500	1,460,000	1,134,000	788,000	1,738,000	2,385,000	903,000	341,000	2,897,000	999,000	720,000	955,000				1,074,000	1,283,250	1,496,000	1,186,000	2,451,000	1,104,000	2,538,000	1,214,000	663,000	318,250	683,000	435,000	155,000	712,750	703,000	1,623,000	525,000
gross profit
yoy
qoq
gross margin %
increase in contingent liabilities																															-960,000	-278,000	-1,336,000	-825,000	-140,000	-739,000	-958,000	-332,000	-1,306,000			-7,274,000	-3,000	-255,000	-1,620,000	-1,312,000	-1,948,000	-3,965,000	-532,000		-1,841,000
income from viking																																1,302,000	-1,019,000	-1,248,000	-1,083,000
discontinued operations:
gain on sale of oncology product line before income taxes																																							1,139,000																				4,000	-34,000	1,000	4,000				216,000	235,000	1,939,000	-12,799,000	-685,000	915,000
income tax expense on discontinued operations																																							-408,000																																-3,452,000			-2,284,000	-24,853,000
income from discontinued operations																																							731,000											2,397,000	191,000																									0.005	0.02
per share amounts:
basic earnings per share data
income from continuing operations																																-0.33	0.4	0.29	0.24	-0.15	0.05	-0.28	0.28					-4,159,999.41	777,000	1,288,000	2,097,000	1,869,000	1,965,000	3,694,000	1,304,000	2,586,000	-194,000	-4,066,000	-487,000	5,502,000	-3,906,000	-914,000	9,486,000	2,348,000	-11,855,000	-290,000	-2,989,000	2,569,000	1,055,000	-4,476,000	-7,482,000	-73,730,000	-9,124,000	-4,889,000	-9,717,000	-29,897,000	-4,862,000	-7,686,000	-16,889,000	-119,718,000	-16,141,000
diluted earnings per share data
shares used for computation
basic																																25	21,071	21,013	20,938	25	20,887	20,832	20,708
diluted																																219	23,551	23,216	23,019	-1,911	22,997	20,832	22,284
per share amounts attributable to ligand common shareholders:
lease exit and termination costs																																				169,000	245,000	374,000	244,000	234,000	345,000	218,000	223,000	562,000	182,000	136,000	204,000	201,000	227,000	44,000	89,000	156,000	-15,000	247,000	-74,000	146,000	-2,000	-16,000	-151,000	952,000	15,894,000
gain on deconsolidation of viking therapeutics																																								7,047,500		28,190,000
income from viking therapeutics																																				-3,534,750	-1,396,000	-11,138,000
net income including noncontrolling interests:																																				-3,126,000	1,051,000	-5,763,000	6,608,000	61,619,250	224,539,000	22,027,000	-89,000	1,040,000	777,000
less: net income attributable to noncontrolling interests																																										-1,537,000	-843,000	-323,000	-503,000	-304,000
equity in net incomees from viking therapeutics																																							-1,605,000	-760,000	-2,169,000	-870,000
other																																							391,000	-121,000	1,485,000	850,000	-447,000	543,000	505,000	1,376,000	-754,000	-132,000	-119,000	2,000	191,000	244,000	15,000	2,000	254,000	556,000	-10,000	32,000	48,000	1,901,000	1,728,000	168,000	1,119,000	-358,000	126,000	103,000	-109,000	-771,000	-155,000	-790,000	-482,000	-1,300,000	99,000	11,000	51,000	1,265,000	66,000	619,000	383,000	526,000	-60,000	232,000	1,000			-13,000				-5,318,000
collaborative research and development and other revenues																																								904,500	1,900,000	1,131,000	586,000	615,000	1,157,000	1,891,000	2,393,000	806,000	553,000	671,000	4,286,000	3,536,000	1,344,000	1,094,000	1,909,000	3,910,000	1,631,000	2,307,000	884,000	1,998,000	6,028,000	4,237,000	3,996,000	12,029,000	6,250,000	5,588,000	6,740,000					1,235,000	250,000		235,000			1,120,000	2,972,000	2,351,000	2,172,000	4,064,000	1,940,000	8,860,000	2,975,000	2,476,000	15,214,000	3,160,000	3,939,000	4,195,000	13,447,000	8,780,000
cost of goods																																								1,230,750	1,250,000	2,600,000
decrease (increase) in contingent liabilities																																								-1,244,000	2,301,000									2,741,000		297,750	2,093,000
weighted-average number of common shares-basic																																								19,790	19,886,877	19,725,410	19,611,881	20,418,569	20,417,187	20,738,299	20,600,683	20,312,395	20,357,558	20,258,618	20,189,378	19,853,095	19,917,676	19,749,266		19,655,632						117,652,112
weighted-average number of common shares-diluted																																								21,228	21,459,648	21,276,404	20,630,788	21,433,177	21,345,311	21,780,034	21,208,023	20,745,454	20,843,742	20,427,360	20,280,030	19,853,095	19,917,676	19,749,266		19,713,320
basic and diluted net income per share																																											0.04
write-off of in-process research and development																																																120,000		480,000						570,500	2,282,000
gain on sale of avinza product line before income taxes																																																647,000		2,397,000	191,000	914,000		1,608,000	2,048,000					2,189,000	11,000	3,000				2,592,000	2,131,000	2,297,000	122,000	-1,156,000	8,321,000	308,292,000	6,892,000	283,000	310,131,000
basic per share amounts:
diluted per share amounts:
net income:																																														1,288,000	2,097,000	2,387,750	1,965,000	6,091,000	1,495,000	-397,500	-194,000	-2,267,000	1,384,000	1,168,500	-3,906,000	-914,000	9,490,000	-3,719,000	-11,843,000	-283,000	-2,750,000	-1,246,000	1,803,000	-1,668,000				-6,429,000	-3,933,000
net income attributable to ligand common shareholders																																														1,592,000
income tax benefit on discontinued operations																																																				3,500		191,000
basic and diluted per share amounts:
accretion of deferred gain on sale leaseback																																																								425,000	426,000	426,000	426,000	425,000	426,000	426,000	-426,000	43,277,000	-20,444,000	-491,000	491,000	3,437,000	-491,000	-491,000	491,000	122,750	491,000	-491,000
discontinued operations																																																				917,500		1,799,000	1,871,000	750		0	4,000	64,500	12,000	7,000	239,000	1,480,500	748,000	2,808,000	2,366,000	-1,189,250	-9,001,000	-1,540,000	5,784,000	310,337,000	6,110,000	7,867,000	291,210,000
decrease (increase) in liability for contingent value rights																																																						-1,153,000	764,000	428,000	224,000	679,000	-1,736,000
income tax benefit (expense) on discontinued operations																																																							-177,000													-133,000	3,676,000	301,000		339,000	1,356,000
weighted-average number of common shares-basic and diluted																																																							19,709,078
gain on sale of avinza product line																																																										0
gain on sale of oncology product line																																																										0
weighted-average number of common shares - basic																																																									19,673,160	19,650,260							113,006,842
weighted-average number of common shares - diluted																																																									19,673,160	19,650,260							113,139,102
weighted-average number of common shares																																																											19,623,249	19,613,201			117,457,241	113,176,511		113,147,714	113,118,073	95,505,421	95,068,102	95,055,718	95,047,440	98,124,731	96,541,752	99,878,197	100,686,308	80,618,528	78,670,137	78,539,820	77,496,969	74,019,501	74,041,204	74,036,753	73,916,470	73,692,987	73,754,146	73,299,281	70,685,234	70,100	69,275	70,238,438	69,118,976	71,358
write-off of acquired in-process research and development.																																																																110,500		441,000
decrease in liability for contingent value rights																																																												2,440,000	2,460,000	3,690,000
weighted-average number of common shares—basic																																																													19,629,693
weighted-average number of common shares—diluted																																																													19,629,693
gain on sale of avinza product line before income tax benefit																																																															9,000	1,332,750	608,000
gain on sale of oncology product line before income tax benefit																																																															230,000	147,750	140,000
lease termination costs																																																																	15,235,000
income from discontinued operations before income taxes																																																																											5,993,000
adjustment to gain on sale of oncology product line before income taxes																																																																								-534,500	-2,138,000	9,868,000	-61,000
amortization of deferred gain on sale leaseback																																																																											491,000
product sales																																																																												100,276,000	36,707,000	47,327,000	47,984,000	46,717,000	42,584,000	41,735,000	35,045,000	82,850,000	37,485,000	34,136,000	42,394,000	28,123,000	25,187,000	18,928,000	13,876,000	16,486,000
cost of products sold																																																																												16,842,000	5,800,000	10,266,000	9,740,000	8,308,000	9,807,000	10,667,000	11,065,000	29,878,000	9,926,000	8,823,000				6,620,000
selling, general and administrative																																																																												59,663,000	20,085,000	24,637,000	22,201,000	17,505,000	17,787,000	20,149,000	19,215,000	49,173,000	16,625,000	14,472,000	12,448,000	13,216,000	13,571,000	12,426,000	10,976,000	10,766,000
co-promotion																																																																												25,679,000	11,776,000	11,073,000	10,957,000	10,029,000	7,766,000	6,966,000	7,740,000	23,077,000	7,000,000	6,731,000
co-promote termination charges																																																																												127,435,000	3,643,000	-434,000	132,941,000
income from discontinued operations, net of income tax																																																																												305,750	1,223,000
cost of product sold																																																																																							5,737,750	8,565,000	7,766,000
debt conversion expense
costs of product sold																																																																																											3,696,750	5,646,000

The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.