Ligand Pharmaceuticals Incorporated : September Corporate Presentation

LGND

Corporate Presentation

SEPTEMBER 2021

Nasdaq: LGND

SAFE HARBOR STATEMENT

The following presentation contains forward-looking statements by Ligand and its partners that involve risks and uncertainties and reflect Ligand's and it's partners' judgment as of the date of this presentation. Words such as "plans," "believes," "expects," "projects," "could," "anticipates," and "will," and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include, without limitation, expectations regarding research and development programs, the timing of the initiation or compilation of preclinical studies and clinical trials by Ligand and its partners, expectations regarding product approvals and potential for future revenue growth, and launches by Ligand or its partners and the timing thereof, total addressable market for antibodies. Actual events or results may differ from Ligand's expectations due to risks and uncertainties inherit in Ligand's business, including the inherit risks of clinical development and regulatory approval of product candidates, including that FDA or foreign regulatory authorities may not agree with our or our partners' conclusions regarding the results of clinical trials; Ligand may be unable to successfully integrate operations from acquired businesses or may face other difficulties as a result of acquisitions such as strain on operational resources; the total addressable market for antibodies or other therapeutics may be smaller than estimated; we face competition with respect to our technology platforms, including OmniAb, which may demonstrate greater market acceptance or superiority; partnered commercial products may not perform as expected; Ligand relies on collaborative partners for milestone and royalty payments, royalties, materials revenue, contract payments and other revenue projections; Ligand does not have contractual relationships with certain parties identified as partners and is dependent on WuXi Biologics Ireland Limited to enforce any contractual rights such as payment of royalties or milestones; the possibility that Ligand's and its partners' drug candidates might not be proved to be safe and efficacious and uncertainty regarding the commercial performance of Ligand's and/or its partners' products; and other risks and uncertainties described in its public filings with the Securities and Exchange Commission, available at www.sec.gov. Additional risks may apply to forward-looking statements made in this presentation. Information regarding partnered products and programs comes from information publicly released by our partners. This presentation describes the typical roles and responsibilities of Ligand and our partners and is not intended to be a complete description in all cases. Our trademarks, trade names and service marks referenced herein include Ligand, Captisol, Pelican Expression Technology, OmniAb, OmniChicken, OmniRat, OmniMouse, OmniFlic, OmniClic and OmniTaur . Each other trademark, trade name or service mark appearing in this presentation belongs to its owner.

The process for reconciliation between the non-GAAP adjusted financial numbers presented on slide 10 and the corresponding GAAP figures is shown in the earnings press release for the second quarter ended June 30, 2021 available at https://investor.ligand.com/press-releases. However, other than with respect to total revenues, the Company only provides financial guidance on an adjusted basis and does not provide reconciliations of such forward-looking adjusted measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Ligand disclaims responsibility for any statement by a person other than its employees and the views expressed by persons other than Ligand employees do not necessarily reflect the views of Ligand.

Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect our good faith beliefs (or those of the indicated third parties) and speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Ligand undertakes no obligation to revise or update this presentation to reflect events or circumstances or update third party research numbers after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934.

ABOUT LIGAND

3

Medical research and technology

Robust platform of

company discovering medicines,

discovery tools and

improving safety and reducing

technologies needed to

manufacturing costs

solve industry challenges

PEOPLE &

TECHNOLOGY

INNOVATION

INNOVATION

DRIVING

VALUE

Superior support and engagement with pharmaceutical partners for a wide range of medical and health needs

High growth and strong cash flow driven by diverse and growing portfolio of partnerships

PARTNERSFINANCIALS

LIGAND ADDS VALUE . . .

. . . JUST ASK OUR MORE THAN 130 PARTNERS

Our research and technology help partners…

Discover medicines

Improve safety

Reduce costs

4

Ligand's technology

and R&D support entitles us to share in revenue of partners through royalties

PARTNERED PIPELINE

5

BROAD PORTFOLIO WITH OVER 130 DIFFERENT PARTNERS

PROPRIETARY

COMPOUNDS &

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Disclaimer

Ligand Pharmaceuticals Inc. published this content on 16 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2021 12:01:11 UTC.