LIGAND PHARMACEUTICALS INCORPORATED

(NASDAQ:LGND)
  Sep 30, 2008 Jun 30, 2008 Mar 31, 2008 Dec 31, 2007
Cash Flow Statement
Cash At Beginning Of Period — 76,812 76,812 158,401
Cash At End Of Period — 29,177 59,543 76,812
Net Change In Cash And Cash Equivalents — -47,635 -17,269 -81,589
Effect Of Exchange Rate Changes — — — —
Net Income Or Loss — -10,362 -3,933 281,688
Cash From Operating Activities
Depreciation Expenses — 548 298 1,706
Amortization Expenses — -982 -491 —
Amortization Of Intangibles Expenses — — — 909
Deferred Income Taxes — — — —
Operating Gains Or Losses — -5,499 -7,826 1,787
Extraordinary Gains Or Losses — — — —
Increase Or Decrease In Receivables — — — 11,537
Increase Or Decrease In Inventories — — — 930
Increase Or Decrease In Prepaid Expenses — — — —
Increase Or Decrease In Other Current Assets — — — —
Increase Or Decrease In Payables — 2,634 2,048 1,404
Increase Or Decrease In Other Current Liabilities — -5,714 -4,409 -51,889
Increase Or Decrease In Other Working Capital — — — —
Other Non Cash Items — 10 16 -17,814
Net Cash From Continuing Operations — 5,995 4,898 -327,985
Net Cash From Discontinued Operations — -13,370 -9,399 -97,727
Net Cash From Operating Activities — — — —
Cash From Investing Activities
Sale Of Property Plant And Equipment — 40 — 322
Sale Of Long Term Investments — — — —
Sale Of Short Term Investments — — — —
Purchase Of Property Plant And Equipment — -385 -196 -440
Acquisitions — 8,058 8,058 310,139
Purchase Of Long Term Investments — — — —
Purchase Of Short Term Investments — -58,858 -22,601 -25,565
Other Investing Changes Net — -6 -50 39,265
Cash From Discontinued Investing Activities — — — —
Net Cash From Investing Activities — -31,787 -5,777 343,837
Cash From Financing Activities
Issuance Of Debt — 46 34 4,387
Issuance Of Capital Stock — -911 -514 -39,919
Repayment Of Debt — -1,613 -1,613 -39,610
Repurchase Of Capital Stock — — — -252,557
Payment Of Cash Dividends — — — —
Net Other Financing Charges — — — —
Cash From Discontinued Financing Activities — — — —
Net Cash From Financing Activities — -2,478 -2,093 -327,699