The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Trevor Allred - Oppenheimer - Analyst
: Hey, good morning. Thanks for taking my questions. I've got a few. First, we've seen both Pelhos and Palvela generate enormous value over the
past year. Is there anything you can share on the available opportunities and special situations?
Question: Trevor Allred - Oppenheimer - Analyst
: Got it. Thanks, Scott. It's helpful. And then my second question is a bit of a two-parter. Can you comment on how the number of investment
opportunities has shifted over the past year? Are you seeing accelerating capital demands? And then can you also comment on how your new
cash balance changes either the scope or the size of how you're approaching deal making, if at all?
Question: Trevor Allred - Oppenheimer - Analyst
: Sounds great, thanks for taking the questions.
Question: Sahil Dhingra - RBC - Analyst
: Hi, this is Sahil Dhingra.
Thank you for taking a question. My first question is related to the competition. Have you seen any changes in the competitive landscape, for royalty
asset as it relates to either, on the market products or products that are in clinical stage?
And then I have a follow-up.
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NOVEMBER 06, 2025 / 1:30PM, LGND.OQ - Q3 2025 Ligand Pharmaceuticals Inc Earnings Call
Question: Sahil Dhingra - RBC - Analyst
: Yeah, thanks. That is helpful. And then my follow-up question is related to the recent approval of Lasix on you, the product where you have royalties,
how do you see that product versus the existing products in the market, specifically Fioro 6, that is marketed by the Pharma, which was recently
acquired by another company, Mankind, and we also saw a recent approval of a nasal spray in the same category. So could you speak to what are
your thoughts on the product and peak sales potential for that product?
Thank you.
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