Ligand Pharmaceuticals Incorporated (LGND) Earnings Call Transcript & Summary

Hello, and welcome to the Special Meeting of Stockholders of Ligand Pharmaceuticals Inc. Please note that today's meeting is being recorded. [Operator Instructions] It is now my pleasure to turn today's meeting over to Charles Berkman, Senior Vice President, General Counsel and Secretary of Ligand Pharmaceuticals Incorporated. Mr. Berkman, the floor is yours.

Thank you. Welcome to Ligand's special meeting. I'm Charles Berkman, Ligand's General Counsel, and I will act as Chairman and Secretary for this meeting. Due to the public health impact of the COVID-19 pandemic and to support the health and wellbeing of our stockholders, employees and their families, we are hosting this meeting in a virtual-only format. I hope everyone attending today's meeting and your families are safe and healthy. I'd like to address 1 housekeeping matter before we begin. Registered stockholders or anyone who holds a valid proxy may submit comments or ask questions related to the business properly before the stockholders through the field provided in the virtual meeting website. As we have only 1 matter to vote on, we do not expect the meeting to last long. So if you have any questions or comments related to the matter to be voted on, please submit them now. If you encounter any technical difficulties accessing or participating in the meeting, please refer to the virtual meeting website for information on how to reach our support team. Computershare, represented by Mark Cano, will act as the Inspector of elections. All stockholders of record at close of business on November 5, 2020, are entitled to vote at this meeting. A copy of the notice of the meeting and proxy statement was mailed or otherwise made available to each stockholder of record on November 12, 2020. The secretary will incorporate the affidavits of mailing into the minutes of this meeting. A copy of the proxy statement is available on the virtual meeting website. In addition, a copy of the agenda and the rules of conduct are available on the virtual meeting website. To ensure the conduct of an orderly meeting, we ask the participants to abide by these rules. No one attending via the webcast is permitted to use any audio recording device. Thank you for your cooperation with these rules. Our first order of business is to determine whether the shares represented at the meeting are sufficient to constitute a quorum for the purpose of transacting business. The preliminary count of the shares represented in person or by proxy at the meeting demonstrate that we have a quorum. The polls are now open. Most stockholders have already voted by proxy, and the proxy votes have been valid. Any stockholder who sent in a proxy or voted via telephone or internet and does not want to change their vote does not need to take any further action. If you want to vote now or change your vote, you can click on the cast your vote button on the bottom of the virtual meeting website. The polls will stay open until the conclusion of the review of the matters to be voted on. There is 1 item to be considered and voted on. The Board recommends you vote for this item, which is the approval of the amendment and restatement of the company's 2002 Stock Incentive Plan. This item has been covered in detail in the proxy statement previously sent to you, and it is available on the virtual meeting website. We will now check to see if any questions related to this matter have been submitted. The polls will close following any discussion on these items. No further questions have been submitted. The polls are closed. The proposed item has received sufficient votes to be approved and is approved. We will report the final vote results in a Form 8-K to be filed with the Securities and Exchange Commission within 4 business days. Our formal agenda has now completed, and the meeting is adjourned. We would like to thank you for attending the special meeting. We hope you and your families are safe and healthy and look forward to your participation in the company's annual meeting next year.

This concludes the meeting. You may now disconnect.