The board of directors of California-based biopharmaceutical company Ligand Pharmaceuticals has approved a share repurchase program authorizing, but not obligating, the repurchase of up to $200 million of the company’s common stock from time to time over the next three years.
The company expects to acquire shares primarily through open-market transactions and may enter into a Rule 10b5-1 trading plan to facilitate open-market repurchases.
The timing and amount of repurchase transactions will be determined by the company's management based on its evaluation of market conditions, share price, legal requirements and other factors.
The company’s existing stock repurchase program expired on September 15, 2018.