SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                 ---------------



                                    FORM 8-K

                                 CURRENT REPORT




     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): November 8, 2007

                       LIGAND PHARMACEUTICALS INCORPORATED
             (Exact name of registrant as specified in its charter)

                                    DELAWARE
                 (State or other jurisdiction of incorporation)

                                    000-20720
                            (Commission File Number)

                           10275 Science Center Drive,
                              San Diego, California
                    (Address of principal executive offices)

                                 (858) 550-7500
              (Registrant's telephone number, including area code)

                                   77-0160744
                      (I.R.S. Employer Identification No.)

                                   92121-1117
                                   (Zip Code)






ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

     On November 8, 2007,  Ligand  Pharmaceuticals  Incorporated (the "Company")
issued a press release  announcing  its financial  results for the quarter ended
September  30,  2007.  A copy of this press  release is  furnished  herewith  as
Exhibit 99.1 and is  incorporated  herein by reference.

     In accordance with General Instruction B.2. of Form 8-K, the information
in this Current Report on Form 8-K, including Exhibit 99.1,  shall not be deemed
"filed" for purposes of Section 18 of the  Securities  Exchange Act of 1934, as
amended (the  "Exchange  Act"),  or otherwise  subject to the  liability of that
section,  nor shall it be deemed  incorporated  by reference in any filing under
the Securities Act of 1933, as amended, or the Exchange Act, except as expressly
set forth by specific reference in such a filing.

Item 9.01  Financial Statements and Exhibits.

(d)      Exhibits.

         EXHIBIT NO.       DESCRIPTION

         99.1              Press release of the Company dated November 8, 2007.







                                   SIGNATURES
     Pursuant to the  requirements  of the  Securities  Exchange Act of 1934, as
amended, the registrant has caused this report to be signed on its behalf by the
undersigned.

                          LIGAND PHARMACEUTICALS INCORPORATED




Date: November            By:      /s/ Charles S. Berkman
                          Name:    Charles S. Berkman
                          Title:   Vice President, General Counsel and Secretary





                                  EXHIBIT INDEX



EXHIBIT NO.                 DESCRIPTION

99.1                        Press release of the Company dated November 8, 2007.