Ligand completes acquisition of XOMA Royalty at $39 per share

Ligand Pharmaceuticals (Nasdaq: LGND) has completed its acquisition of XOMA Royalty Corporation, according to a press release from XOMA Royalty dated July 14, 2026.

Under the terms of the deal, which was originally announced April 27, 2026, Ligand acquired all outstanding shares of XOMA Royalty common stock at $39.00 per share in cash. Stockholders and equity award holders also received one non-transferable Contingent Value Right (CVR) per share, entitling them to a portion of 75% of net proceeds that may result from certain pending litigation at XOMA Royalty.

Following the close of the transaction, XOMA Royalty common stock no longer trades on the Nasdaq stock exchange.

Leerink Partners served as lead financial advisor to XOMA Royalty, with H.C. Wainwright & Co. acting as financial advisor and Gibson, Dunn & Crutcher LLP serving as legal advisor.

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