Ligand Pharmaceuticals Inc 8-K/A, filed Sep 2, 2026

Ligand Pharmaceuticals Inc (LGND)

8-K/A 2026-09-02 For: 2026-07-14

View Original

Added on September 03, 2026

About this 8-K/A

Ligand Pharmaceuticals Inc filed this 8-K/A on September 2, 2026, reporting on events of July 14, 2026.

Items reported

Item 9.01: Financial statements and exhibits

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Delaware	001-33093	77-0160744
(State or other jurisdiction of	(Commission File Number)	(I.R.S. Employer
incorporation or organization)		Identification No.)


555 Heritage Drive, Suite 200
Jupiter
Florida						33458
(Address of principal executive offices)						(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.001 per share	LGND	The Nasdaq Global Market


Exhibit No.			Description
2.1*			Agreement and Plan of Merger, dated as of April 27, 2026, by and among XOMA Royalty Corporation, Ligand Pharmaceuticals Incorporated and Flex Merger Sub, Inc. (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K with the SEC on April 27, 2026).
2.2			Amendment No. 1 to the Agreement and Plan of Merger, dated as of May 16, 2026, by and among XOMA Royalty Corporation, XOMA Royalty Holdings Corporation, Ligand Pharmaceuticals Incorporated and Flex Merger Sub, Inc. (incorporated by reference to Exhibit 2.1 to the XOMA Royalty Corporation’s Current Report on Form 8-K filed with the SEC on May 18, 2026).
10.1*			Form of Support Agreement, dated as of April 27, 2026, entered into by Ligand Pharmaceuticals Incorporated, Flex Merger Sub, Inc. and the Supporting Stockholders (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on April 27, 2026).
23.1			Consent of Deloitte & Touche LLP, independent auditors of XOMA Royalty Corporation.


99.1			Audited consolidated financial statements of XOMA Royalty Corporation for the fiscal year ended December 31, 2025 (incorporated by reference to XOMA Royalty Corporation’s Annual Report on Form 10-K filed with the SEC on March 18, 2026).
99.2			Unaudited condensed consolidated financial statements of XOMA Royalty Corporation as of and for the six months ended June 30, 2026.
99.3			Unaudited pro forma combined consolidated statement of financial position of Ligand Pharmaceuticals Incorporated and XOMA Royalty Corporation as of June 30, 2026, and the combined consolidated statement of operations and comprehensive income for the six months ended June 30, 2026 and the twelve months ended December 31, 2025, and the related notes to such unaudited pro forma combined consolidated financial statements.
104			Cover Page Interactive Data File (embedded within the Inline XBRL document).


			LIGAND PHARMACEUTICALS INCORPORATED

Date: September 2, 2026			By: /s/ Andrew Reardon Name: Andrew Reardon Title: Chief Legal Officer and Secretary


Condensed Consolidated Financial Statements

Condensed Consolidated Balance Sheet as of June 3 0 , 2026 (unaudited)						3

Condensed Consolidated Statement of Operations for the Six Months Ended June 30 , 2026 (unaudited)						4

Condensed Consolidated Statement of Comprehensive Loss for the Six Months Ended June 30 , 2026 (unaudited)						5

Condensed Consolidated Statement of Convertible Preferred Stock and Stockholders’ Equity for the Six Months Ended June 30 , 2026 (unaudited)						6

Condensed Consolidated Statement of Cash Flows for the Six Months Ended June 30 , 2026 (unaudited)						7

Notes to Condensed Consolidated Financial Statements (unaudited)						9


	As of
	June 30, 2026
ASSETS	(unaudited)
Current assets:
Cash and cash equivalents	$	99,291
Short-term restricted cash		7,637
Investment in equity securities		842
Trade and other receivables, net		3,566
Short-term royalty and commercial payment receivables under the EIR method		25,841
Prepaid expenses and other current assets		281
Total current assets		137,458

Long-term restricted cash		43,634
Property and equipment, net		16
Operating lease right-of-use assets		222
Long-term royalty and commercial payment receivables under the EIR method		4,152
Long-term royalty and commercial payment receivables under the cost recovery method		36,156
Exarafenib milestone asset (Note 6)		2,500
Investment in warrants		617
Intangible assets, net		19,421
Other assets - long term		172
Total assets	$	244,348

LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	2,008
Accrued and other current liabilities		5,302
Operating lease liabilities		2,360
Unearned revenue recognized under units-of-revenue method		1,142
Preferred stock dividend accrual		1,452
Current portion of long-term debt		14,068
Contingent value rights liabilities - current portion		6,670
Total current liabilities		33,002
Unearned revenue recognized under units-of-revenue method – long-term		2,664
Exarafenib milestone contingent consideration (Note 6)		2,500
Long-term operating lease liabilities		18,878
Long-term debt		89,015
Contingent value rights liabilities – long-term		10,915
Deferred tax liability		103
Total liabilities		157,077

Commitments and Contingencies (Note 11)

Stockholders’ equity:
8.625% Series A cumulative, perpetual preferred stock, $0.05 par value, 984,000 shares authorized, issued and outstanding as of June 30, 2026		49
8.375% Series B cumulative, perpetual preferred stock, $0.05 par value, 3,600 shares authorized, 1,760.5 issued and outstanding as of June 30, 2026		—
Common stock, $0.0075 par value, 277,333,332 shares authorized, 17,731,620 shares issued and outstanding as of June 30, 2026		133
Additional paid-in capital		1,349,986
Accumulated other comprehensive income		—
Accumulated deficit		(1,262,897)
Total stockholders’ equity		87,271
Total liabilities, convertible preferred stock and stockholders’ equity	$	244,348


	Six Months Ended
	June 30, 2026
Income and revenues:
Income from purchased receivables under the EIR method	$	17,712
Income from purchased receivables under the cost recovery method		10,729
Revenue from contracts with customers		225
Revenue recognized under units-of-revenue method		655
Total income and revenues		29,321

Operating expenses:
Research and development		(25)
General and administrative		29,630
Impairment charges		23,552
Credit losses on purchased receivables		19,728
Amortization of intangible assets		1,784
Total operating expenses		74,669

Loss from operations		(45,348)

Other income (expense), net:
Gain on acquisition		3,545
Interest expense		(6,224)
Other income, net		6,845
Net loss before tax		(41,182)
Income tax expense		(1)
Net loss	$	(41,183)


	Convertible			Series A			Series B						Additional		Accumulated				Total
	Preferred Stock			Preferred Stock			Preferred Stock			Common Stock			Paid-In		Other Comprehensive		Accumulated		Stockholders’
	Shares	Amount		Shares	Amount		Shares	Amount		Shares	Amount		Capital		Income		Deficit		Equity
Balance, December 31, 2025	5	$	20,019	984	$	49	2	$	—	11,859	$	89	$	1,305,200	$	53	$	(1,221,450)	$	83,941
Exercise of stock options	—		—	—		—	—		—	777		6		14,979		—		—		14,985
Stock-based compensation expense - equity-classified	—		—	—		—	—		—	—		—		9,476		—		—		9,476
Issuance of common stock related to 401(k) contribution and ESPP	—		—	—		—	—		—	9		—		217		—		—		217
Issuance of common stock related to PSUs	—		—	—		—	—		—	89		—		(472)		—		—		(472)
Repurchase of common stock	—		—	—		—	—		—	(11)		—		—		—		(264)		(264)
Reclassification of liability classified awards to equity classified awards	—		—	—		—	—		—	—		—		3,509		—		—		3,509
Preferred stock dividends	—		—	—		—	—		—	—		—		(2,904)		—		—		(2,904)
Conversion of Convertible Preferred Stock to common stock	(5)		(20,019)	—		—	—		—	5,003		38		19,981		—		—		20,019
Exercise of warrants	—		—	—		—	—		—	6		—		—		—		—		—
Net unrealized gain reclassified to realized gain on available-for-sale debt securities	—		—	—		—	—		—	—		—		—		(53)		—		(53)
Net loss	—		—	—		—	—		—	—		—		—		—		(41,183)		(41,183)
Balance, June 30, 2026	—	$	—	984	$	49	2	$	—	17,732	$	133	$	1,349,986	$	—	$	(1,262,897)	$	87,271


	Six Months Ended
	June 30, 2026
Cash flows from operating activities:
Net loss	$	(41,183)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Adjustment for income from EIR method purchased receivables		(3,216)
Stock-based compensation expense		9,788
Credit losses on purchased receivables		19,728
Impairment charges		23,552
Gains on acquisitions		(3,545)
Gain on lease termination		(27)
Income tax expense		1
Common stock contribution to 401(k)		124
Amortization of intangible assets		1,784
Depreciation		5
Accretion of long-term debt discount and debt issuance costs		577
Non-cash lease expense		34
Change in fair value of equity securities		(460)
Change in fair value of available-for-sale debt securities classified as cash equivalents		(53)
Change in fair value of derivatives		80
CVR liability working capital adjustment		131
Changes in assets and liabilities:
Trade and other receivables, net		863
Prepaid expenses and other assets		947
Accounts payable and accrued liabilities		(2,536)
Operating lease liabilities		(1,312)
Unearned revenue recognized under units-of-revenue method		(655)
Net cash provided by operating activities		4,627

Cash flows from investing activities:
Net cash, cash equivalents, and restricted cash acquired in Generation Bio acquisition		8,458
Payment of contingent consideration related to LAVA CVR		(2,141)
Receipts under RPAs, AAAs, and CPPAs		440
Net cash provided by (used in) investing activities		6,757
Cash flows from financing activities:
Principal payments – debt		(6,391)
Debt issuance costs and loan fees paid in connection with long-term debt		(80)
Payment of preferred stock dividends		(2,876)
Repurchases of common stock		(264)
Proceeds from exercise of options and other share-based compensation		22,884
Taxes paid related to net share settlement of equity awards		(7,805)
Net cash provided by financing activities		5,468

Net increase (decrease) in cash, cash equivalents, and restricted cash		16,852
Cash, cash equivalents, and restricted cash as of the beginning of the period		133,710
Cash, cash equivalents, and restricted cash as of the end of the period	$	150,562

Supplemental cash flow information:


Cash paid for interest	$	5,555
Cash paid for taxes	$	299

Non-cash investing and financing activities:

Accrual of contingent value rights liability in the Generation Bio acquisition	$	4,583
Transaction costs in connection with Generation Bio acquisition included in accounts payable and accrued expenses	$	35
Adjustment to the contingent value rights liability soon after the acquisitions	$	229
Reclassification of liability awards to equity classified	$	3,509
Preferred stock dividend accrual	$	1,452
Conversion of Series X preferred stock to common stock	$	38


	June 30, 2026
Unrestricted cash	$	99,253
Unrestricted cash equivalents		38
Total unrestricted cash and cash equivalents	$	99,291
Short-term restricted cash		7,637
Long-term restricted cash		43,634
Total restricted cash	$	51,271
Total unrestricted and restricted cash and cash equivalents	$	150,562


	June 30, 2026
Short-term restricted cash held for Blue Owl Loan	$	160
Short-term restricted cash held for Boston Lease payments		5,346
Short-term restricted cash held for Binney Lease security deposit		2,051
Short-term restricted cash held for Generation Bio post-closing expenses		80
Total short-term restricted cash	$	7,637

Long-term restricted cash held for Blue Owl Loan		671
Long-term restricted cash held for Boston Lease security deposit		1,631
Long-term restricted cash held for Boston Lease payments		34,316
Long-term restricted cash held for LAVA CVR payments		6,744
Long-term restricted cash held for Generation Bio post-closing expenses		272
Total long-term restricted cash	$	43,634
Total restricted cash	$	51,271


			Accumulated		Impairment		Net Carrying
	Cost		Amortization		Charges		Value
As of June 30, 2026
Pulmokine - Seralutinib IP (Note 6)	$	26,115	$	3,470	$	22,645	$	—
BioInvent - Contract-based Intangible Asset (Note 5)		20,725		1,449		—		19,276
LAVA - Partnered Program IPs (Note 6)		934		27		907		—
LAVA-1266 IP (Note 6)		149		4		—		145
Total intangible assets	$	47,923	$	4,950	$	23,552	$	19,421


	Intangible Asset
	Amortization
July-December 2026	$	672
2027		1,344
2028		1,344
2029		1,344
2030		1,344
Thereafter		13,373
Total	$	19,421


		Balance as of January 1, 2026		Receipt of Royalty and Commercial Payments		Credit Losses on Purchased Receivables		Balance as of June 30, 2026
Twist	$	15,000	$	—	$	—	$	15,000
Daré (XACIATO)		21,993		(4)		(19,728)		2,261
Palobiofarma		10,000		—		—		10,000
Kuros		4,500		—		—		4,500
Castle Creek		4,395		—		—		4,395
Total	$	55,888	$	(4)	$	(19,728)	$	36,156


	Balance as of January 1, 2026		Income from Purchased Receivables Under the EIR Method		Receipt of Royalty and Commercial Payments			Balance as of June 30, 2026
Affitech (VABYSMO)	$	17,555	$	12,550	$	(11,945)	$	18,160
LadRx (MIPLYFFA)		3,765		4,680		(2,066)		6,379
Aptevo (IXINITY)		5,893		482		(921)		5,454
Total	$	27,213	$	17,712	$	(14,932)	$	29,993


Year	Rent Payments
2026 (excluding the six months ended June 30, 2026)	$	1,915
2027		3,951
2028		4,076
2029		4,126
2030		4,211
Thereafter		8,797
Total undiscounted lease payments	$	27,076
Present value adjustment		(5,838)
Total net lease liability for operating leases	$	21,238


	June 30, 2026
Accrued legal and accounting fees	$	852
Accrued incentive compensation		1,075
Accrued severance		268
Accrued payroll and benefits		99
Accrued short-term interest payable		2,620
Other accrued liabilities		388
Total	$	5,302



	Six Months Ended
	June 30, 2026
Other income (expense), net
Arranger fee from Repare transaction	$	3,000
Investment income		2,312
Sublease income		997
HilleVax CVR adjustment(1)		(720)
LAVA CVR adjustment(2)		230
Unrealized gain (loss) from change in fair value of equity securities		460
Other miscellaneous income, net		566
Total other income (expense), net	$	6,845


Closing cash payment(1)	$	29,008
CVR consideration adjustment(2)		4,583
Transaction costs		823
Total purchase consideration	$	34,414


Cash and cash equivalents	$	35,712
Trade and other receivables, net		24
Prepaid expenses and other current assets		122
Short-term restricted cash		2,181
Long-term restricted cash		360
Accounts payable		(165)
Accrued and other current liabilities		(275)
Net assets acquired	$	37,959
Reconciliation of net assets acquired to total purchase consideration:
Net assets acquired	$	37,959
Less: Gain on the acquisition of Generation Bio		(3,545)
Total purchase consideration	$	34,414


	Fair Value Measurements as of June 30, 2026 using:
	Quoted Prices in		Significant Other		Significant
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
Cash equivalents:
Money market funds	$	38	$	—	$	—	$	38
U.S. treasury bills		—		—		—		—
Total cash equivalents		38		—		—		38
Exarafenib milestone asset (Note 6)		—		—		2,500		2,500
Investment in equity securities		842		—		—		842
Castle Creek PRV Interest (Note 4)		—		—		—		—
Castle Creek warrants (Note 4)		—		—		617		617
Total financial assets	$	880	$	—	$	3,117	$	3,997
Liabilities:
Exarafenib milestone contingent consideration (Note 6)	$	—	$	—	$	2,500	$	2,500
Total financial liabilities	$	—	$	—	$	2,500	$	2,500


	Six Months Ended
	June 30, 2026
Lease costs:
Operating lease cost	$	977
Variable lease cost (1)		175
Total lease costs	$	1,152


	Six Months Ended
	June 30, 2026
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows under operating leases	$	1,937


	June 30, 2026
Weighted-average remaining lease term	6.46 years
Weighted-average discount rate	7.72	%


	June 30, 2026
Gross principal	$	130,000
Principal repayments		(23,893)
Debt discount and debt issuance costs		(3,024)
Total carrying value net of principal repayments, debt discount, and debt issuance costs		103,083
Less: current portion of long-term debt		(14,068)
Long-term debt	$	89,015


Year Ending December 31,	Payments
2026 (excluding the six months ended June 30, 2026)	$	7,115
2027		16,631
2028		20,207
2029		24,278
2030		28,906
Thereafter		8,970
Total payments	$	106,107


	Six Months Ended
	June 30, 2026
Accrued interest expense	$	5,397
Accretion of debt discount and debt issuance costs		577
Delayed draw term loan termination expense		250
Total interest expense	$	6,224


			Exercise Price
Issuance Date	Expiration Date	Balance Sheet Classification	per Share		June 30, 2026
May 2018	May 2028	Stockholders’ equity	$	23.69	—
March 2019	March 2029	Stockholders’ equity	$	14.71	—
December 2023	December 2033	Stockholders’ equity	$	35.00	40,000
December 2023	December 2033	Stockholders’ equity	$	42.50	40,000
December 2023	December 2033	Stockholders’ equity	$	50.00	40,000
Total					120,000


	CVR Liabilities -		CVR Liabilities -
Contingent Consideration	Current Portion		Long-Term		Total
HilleVax sublease	$	1,827	$	4,171	$	5,998
LAVA tax reserve		—		6,333		6,333
LAVA additional closing net cash		—		411		411
Turnstone lease security deposit		260		—		260
Generation Bio additional closing net cash		2,532		—		2,532
Generation Bio lease security deposit		2,051		—		2,051
Total	$	6,670	$	10,915	$	17,585


			Weighted		Weighted
			Average		Average		Aggregate
			Exercise		Contractual		Intrinsic
	Number of		Price		Remaining Term		Value
	Shares		Per Share		(in years)		(in thousands)
Outstanding as of January 1, 2026		2,153,457	$	21.42		5.23	$	14,520
Granted		—		—
Exercised		(777,017)		19.29
Forfeited, expired or cancelled		—		—
Outstanding as of June 30, 2026		1,376,440	$	22.63		5.58	$	27,351
Exercisable as of June 30, 2026		1,293,732	$	22.57		5.52	$	25,788
Vested and expected to vest as of June 30, 2026		1,376,440	$	22.63		5.58	$	27,351


						Derived
Hurdle Price		Number of		Fair Value		Service Period
Per Share		PSUs		Per Share		(in years)
$	30.00		6,000	$	16.53		0.12
$	33.00		118,357	$	22.99-38.90		0.08-0.42
$	35.00		6,000	$	10.36		0.19
$	38.00		118,358	$	21.10-37.82		0.08-0.69
$	40.00		9,000	$	6.22		0.23
$	43.00		118,360	$	19.37-35.81		0.21-0.92
$	45.00		9,000	$	3.63		0.25
$	48.00		118,363	$	17.76-33.77		0.41-1.11
			503,438


			Weighted
			Average
			Grant Date
	Number of		Fair Value
	Unvested PSUs		Per Share
Unvested balance as of January 1, 2026		379,907	$	15.69
Granted		503,438		20.49
Vested		(101,065)		18.72
Forfeited		—		—
Unvested balance as of June 30, 2026		782,280	$	18.39
Vested and expected to vest as of June 30, 2026		236,719	$	19.5


	Six Months Ended
	June 30, 2026
Equity-classified awards	$	9,476
Liability-classified awards		312
Total stock-based compensation expense	$	9,788


	Series A Preferred Stock		Series B Depositary Share
	Cash Dividend Declared		Cash Dividend Declared
Dividend Declaration Date	($ per share)		($ per share)		Dividend Payment Date
October 14, 2025	$	0.53906	$	0.52344	January 15, 2026
February 26, 2026	$	0.53906	$	0.52344	April 15, 2026
June 12, 2026	$	0.53906	$	0.52344	July 10, 2026


	Ligand (as reported)		XOMA (as reported)		Reclassification and conforming adjustments (Note 2)		Transaction Accounting Adjustments (Notes 3, 4)		Notes	Pro Forma Combined
ASSETS
Current assets:
Cash and cash equivalents	$	1,006,702	$	99,291	$	—	$	(928,353)	3(a),4(a-c),4(j-k)	$	177,640
Short-term investments	351,056		—		842		—		2(f)	351,898
Short-term restricted cash	—		7,637		—		—			7,637
Investment in equity securities	—		842		(842)		—		2(f)	—
Accounts receivable, net	67,011		3,566		(2,500)		—		2(b)	68,077
Inventory	10,263		—		—		—			10,263
Short-term portion of financial royalty assets, net	12,982		—		16,597		103		2(a-b),4(f)	29,682
Short-term royalty and commercial payment receivables under EIR	—		25,841		(25,841)		—		2(a)	—
Income taxes receivable	2,911		—		—		—			2,911
Other current assets	6,191		281		—		—			6,472
Total current assets	1,457,116		137,458		(11,744)		(928,250)			654,580
Long-term restricted cash	—		43,634		—		—			43,634
Intangibles assets, net	209,244		19,421		—		78,179		4(e)	306,844
Goodwill	101,541		—		—		142,425		3(c)	243,966
Long-term portion of financial royalty assets, net	194,228		—		54,552		483,548		2(a-c),4(f)	732,328
Long-term royalty and commercial payment receivables under EIR	—		4,152		(4,152)		—		2(a)	—
Long-term royalty and commercial payment receivables under cost recovery	—		36,156		(36,156)		—		2(a)	—
Noncurrent derivative assets	17,913		617		—		—			18,530
Exarafenib milestone asset	—		2,500		(2,500)		—		2(c)	—
Equity method investments	42,390		—		—		—			42,390
Other investments	114,483		—		—		13,700		4(n)	128,183
Deferred tax assets	37,119		—		—		38,148		4(i)	75,267
Property and equipment, net	3,396		16		(16)		—		2(d)	3,396
Operating lease right-of-use assets	6,440		222		—		14,559		4(g)	21,221
Other assets	2,005		172		—		—			2,177
Total assets	$	2,185,875	$	244,348	$	(16)	$	(157,691)		$	2,272,516
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	9,405	$	2,008	$	—	$	—		$	11,413
Accrued liabilities	31,867		5,302		—		—			37,169
Income taxes payable	3,217		—		—		—			3,217


Current contingent liabilities	210		6,670		—		—			6,880
Current operating lease liabilities	1,082		2,360		—		1,113		4(g)	4,555
Unearned revenue recognized under units-of-revenue method	—		1,142		—		(1,142)		4(m)	—
Preferred stock dividend accrual	—		1,452		—		(1,452)		4(c)	—
Current portion of long-term debt	—		14,068		—		(14,068)		4(a)	—
Deferred consideration	—		—		—		63,483		3(a)	63,483
Other current liabilities	955		—		—		—			955
Total current liabilities	46,736		33,002		—		47,934			127,672
Unearned revenue recognized under units-of-revenue method - long term	—		2,664		—		(2,664)		4(m)	—
Exarafenib milestone contingent consideration	—		2,500		(2,500)		—		2(c)	—
Long-term contingent liabilities	2,382		10,915		2,500		6,700		2(c),4(h)	22,497
Long-term operating lease liabilities	3,777		18,878		—		(354)		4(g)	22,301
Long-term debt	—		89,015		—		(89,015)		4(a)	—
Convertible senior notes, net	1,126,594		—		—		—			1,126,594
Deferred tax liabilities	21,654		103		—		2,359		4(i)	24,116
Other long-term liabilities	17,216		—		—		—			17,216
Total liabilities	1,218,359		157,077		—		(35,040)			1,340,396
Commitments and contingencies
Stockholders’ equity:
Series A preferred stock	—		49		—		(49)		4(c-d)	—
Series B preferred stock	—		—		—		—			—
Common stock	20		133		—		(133)		4(d)	20
Additional paid-in capital	379,769		1,349,986		—		(1,349,986)		4(c-d)	379,769
Accumulated other comprehensive income	4,476		—		—		—			4,476
Retained earnings	583,251		(1,262,897)		(16)		1,227,517		2(d),3(b),4(d,j,k)	547,855
Total stockholders’ equity	967,516		87,271		(16)		(122,651)			932,120
Total liabilities, convertible preferred stock and stockholders’ equity	$	2,185,875	$	244,348	$	(16)	$	(157,691)		$	2,272,516