Ligand Pharma CLO Andrew Reardon sells $1.52 million in stock

Ligand Pharmaceuticals Inc. (LGND) saw Chief Legal Officer and Secretary Andrew Reardon sell 5,000 shares of common stock on October 2, 2026, for a total of $1.52 million, as per a pre-arranged Rule 10b5-1 trading plan adopted in June 2026. This comes amid a 70% surge in LGND's shares over the past year, currently trading near $302.

Reardon also exercised employee stock options, acquiring an additional 340 shares. Meanwhile, Ligand reported strong Q2 2026 results with adjusted earnings of $2.37 per share and revenue exceeding $83.7 million, surpassing analyst projections. The company's strategic moves, including a 32% increase in royalty revenue and recent financing deals, highlight its evolving business strategy and financial strength.

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