Ligand Pharmaceuticals Inc (LGND)

[Stowe]

I heard back from IR. This s the response.


The CVRs were created as part of the Metabasis acquisition in 2008 and shareholders of Metabasis were given the CVRs along with other consideration just in case some of the assets in Metabasis generated value in the future. Some have worked out and paid out some value, others have not paid any value.

There is a shareholder rep from Metabasis that is responsible for looking after the CVR holders. His name is David Hale and here is his email. [e-mail]

There are four CVRs that came from the Metabasis transaction. They trade publicly. Here is the list with a tidbit of info about each:

TRBeta CVR is ticker LGNZZ. This is related to the TRBeta programs at our partner Viking
Glucagon CVR is ticker LGNXZ. This is related to the GRA program at our partner Metavant
General CVR is ticker LGNYZ. A catch all for another couple assets.
Roche CVR is ticker LGNDZ . This is related to a collaboration that Roche had with Metabasis related to HCV compounds. The collaboration has been terminated.


Lastly, there is a CVR agreement that governs the terms of the CVRs and it can be found on the SEC website. Link is here:

https://www.sec.gov/Archives/edgar/data/886163/000119312509215910/0001193125-09-215910-index.html

Patrick O'Brien
SVP Investor Relations
Ligand Pharmaceuticals, Inc.
3911 Sorrento Valley Boulevard, Suite 110
San Diego, CA 92121
O: [phone]
M: [phone]