Ligand's

The oversight board said former auditor James Fazio didn't give enough scrutiny to Ligand's reported revenue from sales of products that customers had a right to return, even though Ligand had a history of substantially underestimating such returns.

Deloitte Receives $1 Million Fine 2007

In addition, the oversight board said Deloitte had assigned a greater-than-normal risk to Ligand's 2003 audit but failed to ensure that the partners assigned to the work had sufficient experience to handle it.

Deloitte Receives $1 Million Fine 2007

Deloitte signed off on Ligand's books, finding they fairly presented the firm's results and complied with U.S. generally accepted accounting principles, or U.S. GAAP.

Deloitte Receives $1 Million Fine 2007

Ligand's restatement slashed its reported revenue by about $59 million and boosted its net loss in 2003 by more than 2½ times, the oversight board said.

Deloitte Receives $1 Million Fine 2007

Chiva is being granted licenses to begin immediate development in China of Ligand's two clinical-stage HepDirect programs, Pradefovir for hepatitis B and MB01733 for hepatocellular carcinoma.

Ligand Forms Strategic Drug Development Alliance with Chiva Pharmaceuticals - Yahoo! Finance 2011

Ligand's proprietary drug discovery and development programs are based on advanced cell-based assays, tissue-specific receptor ligand interactions and gene-expression tools.

Ligand Forms Strategic Drug Development Alliance with Chiva Pharmaceuticals - Yahoo! Finance 2011

The failure to meet expectations with respect to any of the foregoing matters may reduce Ligand's stock price.

Ligand Forms Strategic Drug Development Alliance with Chiva Pharmaceuticals - Yahoo! Finance 2011

Rights CVR that were issued at the time of Ligand's acquisition of Metabasis are expected to receive cash payments at or shortly after July 1, 2011, pursuant to the terms of the General

Ligand Forms Strategic Drug Development Alliance with Chiva Pharmaceuticals - Yahoo! Finance 2011

Additional important factors that may affect future results are detailed in prior press releases available via www.ligand.com as well as in Ligand's public periodic filings with the Securities and Exchange

Ligand Forms Strategic Drug Development Alliance with Chiva Pharmaceuticals - Yahoo! Finance 2011

This strategic partnership with Chiva is a major event as it creates our first significant opportunity to introduce Ligand's products and drug discovery capability in China, which is the world's fastest-growing pharmaceuticals market.

Ligand Forms Strategic Drug Development Alliance with Chiva Pharmaceuticals - Yahoo! Finance 2011