SAN DIEGO--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) today announced that its board of directors has approved a 1-for-6 reverse stock split expected to be effective by the end of November 2010. At Ligand’s special stockholder meeting on September 9, 2010, shareholders approved amendments to the Company’s Amended and Restated Certificate of Incorporation to enable a reverse stock split of Ligand’s outstanding common stock and a corresponding decrease in the number of authorized shares of Ligand’s common stock on a proportional basis.
