LIGAND PHARMACEUTICALS INC

Ticker: LGND CUSIP: 53220K504 Class: Common Stock

Pine River Capital Management L.P.'s Holding History (CIK: 0001288136)

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

Q1 2015

Shares 18,700 Value ($000) $1,442 Avg Close $38.31 Range $30.97 - $49.66

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	18,700	$1,442	$38.31	$30.97 - $49.66