LIGAND PHARMACEUTICALS INC

Ticker: LGND CUSIP: 53220K504 Class: Common Stock

BVF INC/IL's Holding History (CIK: 0001056807)

Note: Option positions (PUT/CALL) are excluded.

Q1 2015

Shares 267,090 Value ($000) $20,595 Avg Close $38.31 Range $30.97 - $49.66

Q4 2014

Shares 860,063 Value ($000) $45,764 Avg Close $32.53 Range $26.19 - $36.48

Q3 2014

Shares 1,108,763 Value ($000) $52,101 Avg Close $33.19 Range $28.90 - $40.96

Q2 2014

Shares 1,893,123 Value ($000) $117,923 Avg Close $40.58 Range $34.87 - $44.57

Q1 2014

Shares 2,096,416 Value ($000) $141,005 Avg Close $41.68 Range $31.65 - $50.17

Q4 2013

Shares 2,626,160 Value ($000) $138,136 Avg Close $32.58 Range $26.95 - $36.48

Q3 2013

Shares 3,153,665 Value ($000) $136,491 Avg Close $28.13 Range $22.97 - $31.72

Q2 2013

Shares 3,621,665 Value ($000) $135,523 Avg Close $17.99 Range $14.66 - $23.74

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	267,090	$20,595	$38.31	$30.97 - $49.66
Q4 2014	860,063	$45,764	$32.53	$26.19 - $36.48
Q3 2014	1,108,763	$52,101	$33.19	$28.90 - $40.96
Q2 2014	1,893,123	$117,923	$40.58	$34.87 - $44.57
Q1 2014	2,096,416	$141,005	$41.68	$31.65 - $50.17
Q4 2013	2,626,160	$138,136	$32.58	$26.95 - $36.48
Q3 2013	3,153,665	$136,491	$28.13	$22.97 - $31.72
Q2 2013	3,621,665	$135,523	$17.99	$14.66 - $23.74