Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule of Reconciliation of Revenue from Segments to Consolidated

The following table provides a reconciliation of revenue and operating income by reportable segment to consolidated results and was derived from each segment’s internal financial information as used for corporate management purposes (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
OmniAb business revenue
Royalties	$	139	$	—	$	402	$	—
Contract	7,153		5,821		16,068		14,380
Total OmniAb business revenue	7,292		5,821		16,470		14,380
Ligand core business revenue
Royalties	17,820		8,616		31,252		$	15,728
Captisol - Core	3,325		9,682		9,551		10,935
Captisol - COVID	26,220		52,827		32,116		82,846
Contract	2,762		7,729		13,723		15,936
Total Ligand core business revenue	50,127		78,854		86,642		125,445
Total revenue	$	57,419	$	84,675	$	103,112	$	139,825
Segment operating income (loss)
OmniAb business	$	(8,998)	$	(7,806)	$	(15,187)	$	(12,410)
Ligand core business	17,039		61,834		27,030		80,280
Total segment operating income	8,041		54,028		11,843		67,870
Unallocated corporate items
Shared-based compensation	5,136		5,748		10,793		10,618
Other corporate expenses	3,374		2,541		10,825		6,798
Total unallocated corporate items	8,510		8,289		21,618		17,416
Income (loss) from operations	$	(469)	$	45,739	$	(9,775)	$	50,454