Operator

Ladies and gentlemen, thank you for standing by. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome everyone to Ligand Pharmaceuticals to acquire XOMA Royalty. [Operator Instructions]

I would now like to turn the conference over to Melanie Herman, Head of Investor Relations. Melanie, please go ahead.

Melanie Herman

Good morning, everyone, and welcome to Ligand's investor call highlighting the announcement of our Acquisition of XOMA Royalty. Here with me today are Ligand's CEO, Todd Davis; Chief Financial Officer, Tavo Espinoza; and Vice President of Portfolio Strategy and Investments, Lauren Hay.

Today, we'll be discussing certain non-GAAP financial measures, and some of those will be forward-looking. We'd like to refer you to the safe harbor statement in these forward-looking statements, which are subject to risks and uncertainties. Actual results or events may differ from those projected or discussed, and all forward-looking statements are based on our current available information. Ligand assumes no obligation to update these statements.

And with that, I will now turn the call over to our CEO, Todd Davis.

Todd Davis
CEO & Director

Thank you, Melanie, and good morning. Today, Ligand announced that it has entered into a definitive agreement to acquire XOMA Royalty Corporation. We have known the XOMA team and have been impressed with the robust portfolio of biopharmaceutical assets that they have established