Ligand Pharmaceuticals Inc (LGND): David M. Knott of Dorset Management Resigned from the Board

Item 1.

Security and Issuer.

Item 2.

Identity and Background.

Item 3.

Source and Amount of Funds or Other Consideration.

Item 4.

Purpose of Transaction.

This Item is being amended solely with respect to the following paragraphs:

This Amendment No. 7 to Schedule 13D is being filed solely to report that effective on May 23, 2016, David M. Knott resigned from the Board of Directors (the Board) of Ligand Pharmaceutics Incorporated (the Issuer).  Mr. Knott resigned from the Board to attend to other affairs unrelated to the Issuer.

Item 5.

Interest in Securities of the Issuer.

This Item is being amended solely with respect to the following paragraphs:

(a)-(b) Mr. Knott and Dorset: See Rows 7 through 11 and 13 on pages 2-3.  Of the securities reported as beneficially owned by Mr. Knott in each of Rows 7 through 11 on page 2 of this Schedule 13D, an additional 36,404 are shares of Common Stock underlying directors stock options, as awarded to Mr. Knott and as have vested as of the date of this filing.

Mr. Knott individually has the sole power to vote 1,298,813 shares of Common Stock and dispose of 1,300,479 shares of Common Stock beneficially owned by Mr. Knott, the Partnerships and the Managed Accounts.  As President of Dorset, Mr. Knott shares with certain of Dorsets clients the power to vote 1,666 shares of Common Stock beneficially owned, in the aggregate, by such clients. Mr. Knott is also, for the purposes of this Schedule 13D, deemed to share with his wife the power to dispose of the 1,843 shares of Common Stock beneficially owned by her. Mr. Knott does not have nor does he share with his wife the power to vote the shares owned by her.

The aggregate number of securities reported by Mr. Knott and Dorset in each of Rows 7 through 11 on pages 2-3 of this Schedule 13D do not include 59,693 directors shares held by Dr. Sabba, of which 33,071 are shares of Common Stock underlying directors stock options as awarded to Dr. Sabba and as have vested as of the date of this filing.  Mr. Knott does not have nor does he share with Dr. Sabba the power to dispose of or to vote such shares owned by Dr. Sabba.

(c)  No transactions in the class of securities reported on were effected during the past sixty days.

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Item 7.

Material to be Filed as Exhibits.