XML 40 R23.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Subsequent Event | 12 Months Ended
--- | ---
Dec. 31, 2024
Subsequent Events [Abstract] |
Subsequent Event | Subsequent Event On February 24, 2025, we entered into a Purchase and Sale Agreement (the “Agreement”) with Castle Creek Biosciences, Inc., Castle Creek Biosciences, LLC (collectively, “Castle Creek”) and a syndicate of co-investors for which Ligand acted as representative (collectively, including Ligand, the “Purchasers”), to support Castle Creek’s autologous human fibroblast cell-based gene therapy genetically modified to express COL7, also known as FCX-007 (dabocemagene autoficel) (“D-Fi”) Phase 3 clinical study, its lead candidate for patients with dystrophic epidermolysis bullosa (“DEB”). Pursuant to the Agreement, we and the other Purchasers obtained, for an aggregate purchase price of $75 million, $50 million of which was paid by Ligand and $25 million of which was paid by the other Purchasers collectively, (i) a high single digit royalty on worldwide sales of D-Fi and (ii) warrants to purchase shares of Castle Creek Biosciences, Inc. Series D-1 Preferred Stock. In connection with the transaction we also acquired an unsecured subordinated promissory note issued by Castle Creek Biosciences, LLC with an aggregate principal amount of $8.3 million, which is due and payable upon Castle Creek’s receipt of U.S. Food and Drug Administration approval of D-Fi for treatment of DEB and certain other conditions to payment. We paid $1.8 million for the unsecured subordinated promissory note.

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

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration