Ligand Pharmaceuticals Unveils Exciting Inducement Grant in Accordance with NASDAQ Listing Rule 5635(c)(4) – Marking a Milestone on September 02, 2023

SAN DIEGO–(BUSINESS WIRE)– Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) has taken a bold step towards embracing fresh talent. On September 1, 2023, the Human Capital Management and Compensation Committee of Ligand’s Board of Directors made an exciting announcement.

They granted non-qualified stock options, totaling 50,000 shares of Ligand’s common stock, to a non-executive employee who had just embarked on their journey with the company. This remarkable gesture was made under the Ligand Pharmaceuticals Incorporated 2022 Employee Inducement Plan, aptly named the “Inducement Plan.”

The Inducement Plan is a platform exclusively designed for extending equity awards to individuals who were not previously part of the Ligand family. These awards serve as a powerful incentive for new talent to join Ligand Pharmaceuticals or return after a genuine period of non-employment, a testament to Ligand’s commitment to growth and innovation.

What makes this development even more intriguing is the exercise price of the stock options—$66.54 per share, mirroring the closing price of Ligand’s common stock on The Nasdaq Global Select Market on that very day, September 1, 2023. The shares subject to these options will gradually vest over four years.

An initial 12.5% will become accessible six months from the employee’s start date, followed by the rest in 42 equal monthly installments—provided that the employee continues to contribute to Ligand’s journey. The terms and conditions of the Inducement Plan, along with a meticulously crafted stock option agreement, govern these options, which hold a ten-year term from the grant date.

This move not only demonstrates Ligand’s dedication to nurturing fresh talent but also reflects the company’s commitment to innovation, setting the stage for an exciting future.

About Ligand Pharmaceuticals

At the heart of scientific innovation, Ligand emerges as a biopharmaceutical trailblazer, dedicated to propelling breakthrough medicines into the world. Our unique approach combines financial support with cutting-edge technology licensing to drive the development of high-value therapies. This dynamic strategy not only enriches our stockholders but also cultivates a diverse portfolio of biotech and pharmaceutical revenue streams, all while maintaining an efficient, lean corporate structure.

We offer investors an exciting opportunity to ride the wave of biotech promise profitably and diversely. Our game-changing model revolves around funding mid to late-stage drug development in exchange for economic rights, alongside the licensing of our technology platforms to empower partners in their quest to discover and develop groundbreaking medicines. In collaboration with top-tier pharmaceutical companies, we harness their strengths in late-stage development, regulatory prowess, and commercialization to pave the way for our revenue generation.

At the core of our innovation arsenal lie two potent platform technologies: Captisol and Pelican. Captisol is a marvel, a chemically modified cyclodextrin meticulously designed to supercharge drug solubility and stability. For our Captisol partners, we’re the engine that supplies the essential Captisol material for their groundbreaking programs.

Meanwhile, our Pelican Expression Technology stands as a robust, validated, cost-effective, and infinitely scalable platform for recombinant protein production. It excels, especially in complex, large-scale protein production scenarios where traditional systems falter.

Our illustrious journey is punctuated by a tapestry of alliances, licenses, and strategic relationships with some of the world’s foremost pharmaceutical giants, including Amgen, Merck, Pfizer, Jazz, Takeda, Gilead Sciences, and Baxter International. Together, we are rewriting the script of medical progress, pioneering the path to a healthier future.

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