 Ligand Pharmaceuticals Incorporated NASDAQ: LGND and Pfenex Inc. NYSE American: PFNX today announced the signing of a definitive agreement for Ligand to acquire all outstanding shares of Pfenex for 12.00 per share in cash or 438 million in equity value on a fully diluted basis. In addition, Ligand will pay 2.00 per share or 78 million as a Contingent Value Right CVR in the event a predefined regulatory milestone is achieved by December 31, 2021, for a total transaction value of up to 516 million. The closing of this transaction is subject to customary conditions and is expected to occur in the fourth quarter. 