Ligand Pharmac-B

Q2 FY2026 EarningsQ2 FY26 performance significantly beat consensus across top and bottom lines, with revenue reaching $63.7M vs. $60.8M expected and Normalized EPS of $2.37 vs. $1.95 consensus. Growth was primarily fueled by a 32% YoY surge in royalties from key products like Filspari, Ohtuvayre, and Zelsuvmi. Management raised the low end of FY26 adjusted EPS guidance to $9.00–$9.50, citing accretion from the XOMA acquisition and share repurchases, while maintaining revenue targets.