LIGAND PHARMACEUTICALS INC files DEFA14A

Ligand Pharmaceuticals Incorporated (Parent) will acquire XOMA Royalty Corporation (Company) for $39.00 per share in cash, totaling approximately $739 million in equity value. XOMA Royalty stockholders will also receive one non-transferable Contingent Value Right (CVR) per share, entitling them to 75% of net proceeds from certain pending litigation. The transaction is expected to close in the third quarter of 2026, subject to XOMA Royalty stockholder approval and regulatory approvals.