XML 15 R33.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Fair Value Measurements (Details) - USD ($) | 6 Months Ended |  |
--- | --- | --- | ---
Jun. 30, 2015 | Dec. 31, 2014 | Aug. 31, 2014
2019 convertible senior notes |  |  |
Liabilities: |  |  |
Principal amount outstanding | $ 245,000,000 | $ 245,000,000 |
2019 convertible senior notes | Senior Notes |  |  |
Liabilities: |  |  |
Estimated fair value of debt | 353,600,000 |  |
Principal amount outstanding |  |  | $ 245,000,000.0
Recurring |  |  |
Assets: |  |  |
Assets, fair value | 166,995,000 | 76,716,000 |
Liabilities: |  |  |
Liabilities, fair value | 20,441,000 | 16,244,000 |
Recurring | Current contingent liabilities-CyDex |  |  |
Liabilities: |  |  |
Liabilities, fair value | 4,597,000 | 6,796,000 |
Recurring | Current contingent liabilities-Metabasis |  |  |
Liabilities: |  |  |
Liabilities, fair value | 3,077,000 |  |
Recurring | Current co-promote termination liability |  |  |
Liabilities: |  |  |
Liabilities, fair value |  | 322,000 |
Recurring | Long-term contingent liabilities-Metabasis |  |  |
Liabilities: |  |  |
Liabilities, fair value | 5,316,000 | 3,652,000 |
Recurring | Long-term contingent liabilities-CyDex |  |  |
Liabilities: |  |  |
Liabilities, fair value | 5,773,000 | 4,701,000 |
Recurring | Liability for amounts owed to former licensees |  |  |
Liabilities: |  |  |
Liabilities, fair value | 1,678,000 | 773,000 |
Recurring | Cash Equivalents |  |  |
Assets: |  |  |
Assets, fair value | 88,077,000 | 69,261,000 |
Recurring | Short-term investments |  |  |
Assets: |  |  |
Assets, fair value | $ 73,371,000 | 7,133,000 |
Recurring | Note receivable Viking Therapeutics, Inc. |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Estimated volatility of common stock | 50.00% |  |
Assets: |  |  |
Assets, fair value | $ 5,547,000 |  |
Recurring | Current co-promote termination payments receivable |  |  |
Assets: |  |  |
Assets, fair value |  | 322,000 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |
Assets: |  |  |
Assets, fair value | 13,262,000 | 7,133,000 |
Liabilities: |  |  |
Liabilities, fair value | 1,678,000 | 773,000 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Current contingent liabilities-CyDex |  |  |
Liabilities: |  |  |
Liabilities, fair value | 0 | 0 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Current contingent liabilities-Metabasis |  |  |
Liabilities: |  |  |
Liabilities, fair value | 0 |  |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Current co-promote termination liability |  |  |
Liabilities: |  |  |
Liabilities, fair value |  | 0 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Long-term contingent liabilities-Metabasis |  |  |
Liabilities: |  |  |
Liabilities, fair value | 0 | 0 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Long-term contingent liabilities-CyDex |  |  |
Liabilities: |  |  |
Liabilities, fair value | 0 | 0 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Liability for amounts owed to former licensees |  |  |
Liabilities: |  |  |
Liabilities, fair value | 1,678,000 | 773,000 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Cash Equivalents |  |  |
Assets: |  |  |
Assets, fair value | 0 | 0 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Short-term investments |  |  |
Assets: |  |  |
Assets, fair value | 13,262,000 | 7,133,000 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Note receivable Viking Therapeutics, Inc. |  |  |
Assets: |  |  |
Assets, fair value | 0 |  |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Current co-promote termination payments receivable |  |  |
Assets: |  |  |
Assets, fair value |  | 0 |
Recurring | Significant Other Observable Inputs (Level 2) |  |  |
Assets: |  |  |
Assets, fair value | 148,186,000 | 69,261,000 |
Liabilities: |  |  |
Liabilities, fair value | 8,393,000 | 3,652,000 |
Recurring | Significant Other Observable Inputs (Level 2) | Current contingent liabilities-CyDex |  |  |
Liabilities: |  |  |
Liabilities, fair value | 0 | 0 |
Recurring | Significant Other Observable Inputs (Level 2) | Current contingent liabilities-Metabasis |  |  |
Liabilities: |  |  |
Liabilities, fair value | 3,077,000 |  |
Recurring | Significant Other Observable Inputs (Level 2) | Current co-promote termination liability |  |  |
Liabilities: |  |  |
Liabilities, fair value |  | 0 |
Recurring | Significant Other Observable Inputs (Level 2) | Long-term contingent liabilities-Metabasis |  |  |
Liabilities: |  |  |
Liabilities, fair value | 5,316,000 | 3,652,000 |
Recurring | Significant Other Observable Inputs (Level 2) | Long-term contingent liabilities-CyDex |  |  |
Liabilities: |  |  |
Liabilities, fair value | 0 | 0 |
Recurring | Significant Other Observable Inputs (Level 2) | Liability for amounts owed to former licensees |  |  |
Liabilities: |  |  |
Liabilities, fair value | 0 | 0 |
Recurring | Significant Other Observable Inputs (Level 2) | Cash Equivalents |  |  |
Assets: |  |  |
Assets, fair value | 88,077,000 | 69,261,000 |
Recurring | Significant Other Observable Inputs (Level 2) | Short-term investments |  |  |
Assets: |  |  |
Assets, fair value | 60,109,000 | 0 |
Recurring | Significant Other Observable Inputs (Level 2) | Note receivable Viking Therapeutics, Inc. |  |  |
Assets: |  |  |
Assets, fair value | 0 |  |
Recurring | Significant Other Observable Inputs (Level 2) | Current co-promote termination payments receivable |  |  |
Assets: |  |  |
Assets, fair value |  | 0 |
Recurring | Significant Unobservable Inputs (Level 3) |  |  |
Assets: |  |  |
Assets, fair value | 5,547,000 | 322,000 |
Liabilities: |  |  |
Liabilities, fair value | 10,370,000 | 11,819,000 |
Recurring | Significant Unobservable Inputs (Level 3) | Current contingent liabilities-CyDex |  |  |
Liabilities: |  |  |
Liabilities, fair value | 4,597,000 | 6,796,000 |
Recurring | Significant Unobservable Inputs (Level 3) | Current contingent liabilities-Metabasis |  |  |
Liabilities: |  |  |
Liabilities, fair value | 0 |  |
Recurring | Significant Unobservable Inputs (Level 3) | Current co-promote termination liability |  |  |
Liabilities: |  |  |
Liabilities, fair value |  | 322,000 |
Recurring | Significant Unobservable Inputs (Level 3) | Long-term contingent liabilities-Metabasis |  |  |
Liabilities: |  |  |
Liabilities, fair value | 0 | 0 |
Recurring | Significant Unobservable Inputs (Level 3) | Long-term contingent liabilities-CyDex |  |  |
Liabilities: |  |  |
Liabilities, fair value | 5,773,000 | 4,701,000 |
Recurring | Significant Unobservable Inputs (Level 3) | Liability for amounts owed to former licensees |  |  |
Liabilities: |  |  |
Liabilities, fair value | 0 | 0 |
Recurring | Significant Unobservable Inputs (Level 3) | Cash Equivalents |  |  |
Assets: |  |  |
Assets, fair value | 0 | 0 |
Recurring | Significant Unobservable Inputs (Level 3) | Short-term investments |  |  |
Assets: |  |  |
Assets, fair value | 0 | 0 |
Recurring | Significant Unobservable Inputs (Level 3) | Note receivable Viking Therapeutics, Inc. |  |  |
Assets: |  |  |
Assets, fair value | 5,547,000 |  |
Recurring | Significant Unobservable Inputs (Level 3) | Current co-promote termination payments receivable |  |  |
Assets: |  |  |
Assets, fair value |  | $ 322,000 |
Viking Therapeutics, Inc. [Member] |  |  |
Liabilities: |  |  |
Market value of investment in Viking | $ 34,200,000 |  |

X
- Definition Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_AssetsFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_AssetsFairValueDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair value portion of borrowing which can be exchanged for a specified number of another security at the option of the issuer or the holder, for example, but not limited to, the entity's common stock. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Convertible Security -URI http://asc.fasb.org/extlink&oid=6509036 + Details
Name: | us-gaap_ConvertibleDebtFairValueDisclosures
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition This item represents the aggregate value of each identified investment accounted for under the equity method of accounting based on the quoted market price for those investments in common stock for which a quoted market price is available. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentQuotedMarketValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssumptionsExpectedVolatilityRate
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair value of financial and nonfinancial obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_LiabilitiesFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_LiabilitiesFairValueDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DebtInstrumentAxis=lgnd_A2019ConvertibleSeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=lgnd_CurrentPortionOfLiabilityForContingentValueRightsCompanyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=lgnd_CurrentPortionofLiabilityForContingentValueRightsCompanyMetabasisMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=lgnd_CurrentPortionOfCoPromoteTerminationLiabilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=lgnd_LongTermPortionofLiabilityForContingentValueRightsCompanyMetabasisMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=lgnd_LongTermPortionOfLiabilityForContingentValueRightsCompanyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=lgnd_LiabilityForRestrictedInvestmentsOwedToFormerLicenseesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=us-gaap_CashEquivalentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=us-gaap_AvailableforsaleSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=us-gaap_NotesReceivableMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByAssetClassAxis=lgnd_CurrentPortionOfCoPromoteTerminationPaymentsReceivableMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=lgnd_VikingTherapeuticsInc.Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |