XOMA Royalty Corporation
Nasdaq: XOMA/Ligand Pharmaceuticals IncorporatedNasdaq: LGNDLigand to Acquire XOMA Royalty for $39.00/share in cash
Key takeaways
- Ligand Pharmaceuticals Incorporated acquires XOMA Royalty Corporation — $739M aggregate · $39.00/share cash · 14% premium (cash).
Deal value
$739M
cash
Per-share offer
$39.00
$39.00 per share in cash, plus one CVR per share
Premium
+14.0%
Days to close
—
Term fee
—
Spread Calculator
Manual price entry · saved per ticker
Support / voting agreements
- ·Entities affiliated with BVF Partners— 21.00% locked up(target)
Announced
Apr 28, 2026
Preliminary Proxy
—
Definitive Proxy
—
Record date
—
Shareholder vote
—
Expected close
—
Closing conditions
- Approval by XOMA Royalty stockholders
- Receipt of certain regulatory approvals
- Customary closing conditions
- Absence of injunctions or legal restraints
Disclosed litigation
- Ongoing litigation with Janssen Biotech (now Johnson & Johnson Innovative Medicine) regarding TREMFYA® commercialization
- ✓Financing· No financing condition
No competing-bidder, activist, or dissident-proxy signals in the database for this target.
No advisor data on record for this deal.
- Apr 28, 2026this filing
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Ligand Pharmaceuticals has agreed to acquire XOMA Royalty Corporation for $39.00 per share in cash, representing a total equity value of approximately $739 million, with XOMA stockholders also receiving one CVR per share for potential proceeds from pending litigation. The acquisition expands Ligand's royalty portfolio to over 200 assets, adds seven commercial products and nearly doubles Phase 2/3 assets, and is expected to be immediately accretive to Ligand's adjusted EPS. The transaction is expected to close in Q3 2026, subject to XOMA stockholder approval and customary regulatory conditions.