XML 44 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Royalties $ 9,755 $ 7,482 $ 26,648 $ 20,573
Material sales 6,046 6,334 20,456 15,525
Collaborative research and development and other revenues 1,900 1,157 3,618 5,441
Total revenues 17,701 14,973 50,722 41,539
Operating costs and expenses:        
Cost of goods 1,250 1,496 4,923 5,133
Research and development 2,538 3,021 10,510 8,842
General and administrative 4,971 6,742 18,190 17,053
Lease exit and termination costs 345 182 786 522
Total operating costs and expenses 9,104 11,441 34,409 31,550
Income from operations 8,597 3,532 16,313 9,989
Other (expense) income:        
Interest expense, net (2,930) (1,516) (8,875) (1,946)
Decrease (increase) in contingent liabilities 2,301 (1,620) (4,976) (4,880)
Gain on deconsolidation of Viking Therapeutics 0 0 28,190 0
Equity in net losses from Viking Therapeutics (2,169) 0 (3,040) 0
Other, net 1,485 505 1,889 1,128
Total other (expense) income, net (1,313) (2,631) 13,188 (5,698)
Income before income taxes 7,284 901 29,501 4,291
Income tax benefit (expense) 217,255 (124) 216,976 (131)
Net income including noncontrolling interests: 224,539 777 246,477 4,160
Less: Net loss attributable to noncontrolling interests 0 (503) (2,380) (809)
Net income $ 224,539 $ 1,280 $ 248,857 $ 4,969
Per share amounts attributable to Ligand common shareholders:        
Basic net income per share (in usd per share) $ 11.29 $ 0.06 $ 12.61 $ 0.24
Diluted net income per share (in usd per share) $ 10.46 $ 0.06 $ 11.78 $ 0.23
Weighted average number of common shares-basic (in shares) 19,886,877 20,417,187 19,741,081 20,584,469
Weighted average number of common shares-diluted (in shares) 21,459,648 21,345,311 21,121,972 21,632,521