The transaction is sourced from an SEC EDGAR Form 8-K filing published on July 14, 2026. Based on the facts provided, the deal's status is pending regulatory approval.
On the financial advisory side, Leerink Partners served as lead financial advisor to XOMA Royalty, the target, with H.C. Wainwright & Co. also serving as a financial advisor to XOMA Royalty in a supporting, non-lead capacity. On the acquirer side, Stifel served as lead financial advisor to Ligand, with Citi also serving as a financial advisor to Ligand, and the source material additionally notes that Collected Strategies served as strategic communications advisor to Ligand, rounding out the acquirer's advisory team.
On the legal side, Gibson, Dunn & Crutcher LLP served as legal advisor to XOMA Royalty, the target, while Paul Hastings LLP served as legal advisor to Ligand, the acquirer.
Beyond confirming that this is a cash acquisition structured with a contingent value right and a disclosed value of 739,000,000 dollars, no further detail on the specific cash amount per share, the CVR terms, or the milestones triggering any CVR payout is included in the facts available.
Several elements of this deal remain undisclosed. No specific per-share cash price or CVR payout terms are given beyond the aggregate disclosed value of 739,000,000 dollars, and no expected closing date is provided. The facts also do not specify what regulatory approvals are required to complete the transaction.