LIGAND PHARMACEUTICALS INC

Ticker: LGND CUSIP: 53220K504 Class: Common Stock

WHITEBOX ADVISORS LLC's Holding History (CIK: 0001257391)

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

Q4 2014

Shares 59,384 Value ($000) $3,160 Avg Close $32.53 Range $26.19 - $36.48

Q3 2014

Shares 57,404 Value ($000) $2,697 Avg Close $33.19 Range $28.90 - $40.96

Q2 2014

Shares 13,134 Value ($000) $818 Avg Close $40.58 Range $34.87 - $44.57

Q4 2013

Shares 71,596 Value ($000) $3,766 Avg Close $32.58 Range $26.95 - $36.48

Q3 2013

Shares 43,153 Value ($000) $1,868 Avg Close $28.13 Range $22.97 - $31.72

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	59,384	$3,160	$32.53	$26.19 - $36.48
Q3 2014	57,404	$2,697	$33.19	$28.90 - $40.96
Q2 2014	13,134	$818	$40.58	$34.87 - $44.57
Q4 2013	71,596	$3,766	$32.58	$26.95 - $36.48
Q3 2013	43,153	$1,868	$28.13	$22.97 - $31.72