Ligand pharmaceuticals incorporated (LGND)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net income (loss)

629,302

143,321

12,556

-1,636

227,444

10,892

11,420

-527

9,715

-10,373

-1,948

Less: gain from discontinued operations

-

-

-

731

0

0

2,588

2,147

3

2,413

6,389

Income (loss) from continuing operations

-

-

-

-2,367

227,444

10,892

8,832

-2,674

9,712

-12,786

-8,337

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Gain from sale of Promacta license

812,797

0

0

-

-

0

-

-

-

-

-

Write-off of acquired in-process research and development

-

-

-

-

-

-

480

0

2,282

2,754

442

Change in estimated fair value of contingent liabilities

30

-3,448

-2,580

-3,334

-5,013

-5,135

-3,597

-1,650

-1,888

9,142

0

Realized gain on sale of short-term investment

41

2,611

831

2,352

2,603

1,538

0

0

-

-

-

Non-cash development milestone revenue

-

-

-

-

-

-

-

-

-

-

-915

Gain on write-off of assets

-

-

-

-

-

-

-

-17

-456

5,303

500

Depreciation and amortization of intangible assets

18,361

12,784

10,955

11,290

2,627

2,657

2,663

2,727

2,790

2,212

4,634

Change in fair value of the convertible debt receivable from Viking and warrants

-

-

-

462

-765

0

0

-

-

-

-

Amortization of premium (discount) on investments, net

10,274

5,452

81

-348

0

0

-

-

-

-

-

Amortization of debt discount and issuance fees

29,988

43,954

11,619

10,925

10,274

3,694

0

0

1,702

1,702

21,851

Amortization of commercial license and other economic rights

25,370

1,934

759

-

-

-

-

-

-

-

-

Non-cash milestone revenue

-

-

-

-

-

1,211

0

-1,212

0

0

-

Realized gain on investment

-

-

-

-

-

-

-

-

-

607

232

Share-based compensation

24,515

20,846

24,915

18,893

12,458

11,270

5,666

4,067

3,351

2,325

3,365

Deferred income taxes

-74,829

-29,739

-44,518

-10,697

192,132

-410

-374

1,204

13,402

0

-

Gain on deconsolidation of Viking

-

-

-

-

28,190

0

0

-

-

-

-

Accretion of note payable

-

-

-

-

-

-

-

492

286

-

-

Loss (gain) from investment in Viking

2,888

47,658

1,114

-23,132

-5,143

0

0

-

-

-

-

Change in derivative asset and liability fair value

-

-

-

0

-

-

-

-

-

-

-

Royalties recorded in retained earnings upon adoption of ASC 606

0

32,707

0

0

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable, net

-25,463

29,544

8,358

8,525

-6,489

10,412

-2,367

-1,521

3,915

375

618

Inventory

2,061

2,559

843

244

401

-4,369

-646

-1,030

-1,114

0

-

Restricted cash

-

-

-

-

-

0

0

-

-

-

-

Other current assets

-

-

-

-526

-987

426

130

-515

-4,864

3,931

448

Other long term assets

-

-

-

-183

-

1,439

-218

-334

-605

332

-10,346

Accounts payable and accrued liabilities

-6,826

-4,542

-1,713

-2,369

-4,027

-3,121

-3,149

-4,801

-11,568

-13,447

-10,989

Income taxes receivable

11,219

-318

460

-

-

-

-

-

-

-

-

Other economic rights

-12,000

0

0

-

-

-

-

-

-

-

-

Contingent liabilities

-

-

-

-2,268

-

-

-

-

-

-

-

Deferred revenue

-

-

-

-8

-2,227

80

-654

-1,851

2,160

-5,938

-14,302

Other

2,428

-5,458

-5,062

-

-

-

-

-

-

-

-

Other

-1,456

2,832

-870

-

107

206

422

-

-5

-32

18

Other liabilities

-

-

-

-

-

-

-

484

865

-715

-2,318

Net cash provided by operating activities of continuing operations

-

-

-

-

-

20,566

21,332

1,061

-1,172

-27,307

-30,639

Net cash used in operating activities of discontinued operations

-

-

-

-

-

0

-642

-900

0

240

-3,162

Net cash provided by operating activities

-29,336

194,059

88,570

60,733

41,727

20,566

20,690

161

-1,172

-27,067

-33,801

Cash flows from investing activities:
Proceeds from sale of Promacta license

812,797

0

0

-

-

-

-

-

-

-

-

Purchase of commercial license rights

0

10,000

0

17,695

4,030

1,000

-

-

-

-

-

Reduction of cash due to deconsolidation of Viking

-

-

-

-

247

0

0

-

-

-

-

Cash paid for acquisition, net of cash acquired

11,840

5,856

26,653

92,502

0

0

3,571

0

0

2,834

-

Payments to CVR holders and other contingency payments

-

-

-

0

6,740

3,493

989

8,049

2,875

0

-

Acquisition of CyDex, net of cash acquired

-

-

-

-

-

-

-

-

32,024

0

-

Cash acquired from acquisition of Neurogen

-

-

-

-

-

-

-

-

-

-

9,796

Acquisition of intellectual property

-

-

-

-

-

-

-

-

-

1,247

-

Purchases of property and equipment

2,553

887

2,156

1,850

93

6

377

595

78

70

522

Purchase of short-term investments

2,356,545

1,434,255

254,258

164,438

166,025

0

0

-

10,000

35,584

32,806

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

20

530

589

108

Proceeds from sale of short-term investments

535,877

131,942

86,985

24,596

16,039

2,342

0

10,000

19,346

54,040

47,761

Proceeds from maturity of short-term investments

1,494,851

892,873

109,649

118,874

57,234

0

0

-

-

-

-

Proceeds from commercial license rights

0

0

7,054

0

0

-

-

-

-

-

-

Proceeds received from repayment of Viking note receivable

0

3,914

200

300

0

0

-

-

-

-

-

Cash paid for equity method investment

1,000

0

0

-

-

-

0

-

-

-

-

Other

4,669

1,000

0

-

-

-130

37

113

31

354

-431

Net cash provide by (used in) investing activities of continuing operations

-

-

-

-

-

-

-

-

-

-

24,768

Net cash provided by investing activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

0

Net cash provided by investing activities

466,918

-423,269

-79,179

-134,415

-112,862

-2,027

-4,974

1,263

-25,132

14,540

24,768

Cash flows from financing activities:
Principal payments on equipment financing obligations

-

-

-

-

-

-

-

-

-

91

473

Proceeds from issuance of debt

-

-

-

-

-

-

-

7,500

30,000

0

-

Repurchase of 2023 Notes

27,323

217,674

0

0

-

9,366

19,586

10,000

0

0

3,443

Gross proceeds from issuance of 2023 Convertible Senior Notes

0

750,000

0

0

-

-

-

-

-

-

-

Payment of debt issuance costs

0

16,900

0

0

-

5,711

0

0

-

-

-

Proceeds from issuance of warrants

0

90,000

0

0

-

11,638

0

0

-

-

-

Purchase of convertible bond hedge

0

140,250

0

0

-

48,143

0

0

-

-

-

Proceeds from convertible bond hedge settlement

-

-

-

-

-

245,000

0

0

-

-

-

Proceeds from bond hedge settlement

12,401

439,559

0

0

-

-

-

-

-

-

-

Payments to convert holders for bond conversion

12,401

439,581

0

0

-

-

-

-

-

-

-

Proceeds from issuance of common stock, net

-

-

-

-

-

-

-

5,313

0

23

228

Net proceeds from stock option exercises and ESPP

2,997

20,183

4,517

6,415

8,849

4,561

3,128

1,103

54

0

-

Taxes paid related to net share settlement of equity awards

4,418

3,765

10,074

999

0

0

-

-

-

-

-

Net proceeds from employee stock purchase program

-

-

-

-

-

-

-

-

0

0

-

Share repurchase

453,048

122,868

1,966

3,901

489

67,954

0

0

55

91

-

Repurchase of warrants

380

30,100

0

0

-

-

-

-

-

-

-

Payments to CVR Holders

3,000

25

0

6,509

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities of continuing operations

-

-

-

-

-

-

-

-

-

-

-3,688

Net cash provided by (used in) financing activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

0

Net cash used in financing activities

-485,172

328,585

-7,523

-4,994

8,360

130,025

-16,458

3,916

29,999

-159

-3,688

Effect of exchange rate changes on cash

83

-215

0

0

-

-

-

-

-

-

-

Net increase (decrease) in cash, cash equivalents and restricted cash

-47,590

99,375

1,868

-78,676

-62,775

148,564

-742

5,340

3,695

-12,686

-12,721

Supplemental disclosure of cash flow information:
Cash paid during the year:
Interest paid

5,827

1,513

1,838

1,838

1,822

494

1,816

2,452

2,463

58

270

Taxes paid

103,817

341

157

38

28

18

26

0

39

28

14

Supplemental schedule of non-cash activity:
Stock issued for acquisition, net of issuance cost

-

-

-

77,331

0

0

-

-

-

-

-

Stock and warrant received for repayment of Viking notes receivable

-

-

-

1,200

0

0

-

-

-

-

-

Accrued fixed asset purchases

495

15

0

-

-

-

-

-

-

-

-

Supplemental schedule of non-cash investing and financing activities
Accrued inventory purchases

170

2,059

1,007

646

1,333

3,246

341

1,426

0

-

-

Liability for commercial license rights

-

-

-

-

-

-

-

-

0

-

-

Accrued inventory purchases

256

48

144

-1,109

3,005

3,872

2,914

0

0

-

-

Value of shares reacquired under convertible bond hedge transaction entered into with 2019 Notes

-

-

-

-

-

-

-

-

-51

9,042

10,102

Proceeds received from sale of building and disbursed to Neurogen shareholders

-

-

-

-

-

-

-

-

-

3,170

-

Common stock released from restriction

-

-

-

-

-

-

-

8,344

0

0

-

Issuance of common stock for acquisition

-

-

-

-

-

-

-

-

-

-

8,946

Viking Therapeutics, Inc.
Common stock and warrants in equity method investments

-

-

-

700

-

-

-

-

-

-

-

Purchase of Common Stock
Common stock and warrants in equity method investments

-

-

-

1,000

-

-

-

-

-

-

-