Ligand Pharmaceuticals Inc. Files S-1 for Existing Employee & Director Stock Plans

Ligand Pharmaceuticals Incorporated (Pink Sheets:LGND) announced today that it has filed a Form S-1 Registration Statement with the Securities and Exchange Commission for its existing employee stock plans: the employee and director stock incentive plan and the employee stock purchase plan. The S-1 seeks to register 7,988,793 shares, including 7,238,793 previously approved by stockholders and reserved under these plans (of which 7,002,507 have been previously granted as of December 31, 2005) plus 750,000 shares for the company's stock incentive plan, approved by the board in December 2005 and subject to approval by the stockholders at the upcoming annual meeting.