Bryan, Long term investors should view today as a buying opportunity.
I went back to the Prodigy achives and pulled up a few from the time
around the H&Q Conference. Follow the time of the posts and the
price of LGND. (LGND began the conference at 8:00 AM PST on Monday,
Jan 8 (11:00 EST) and the market didn't open until about then
(snow storm or power failure, I can't remember why). LGND had set
an all time high in the previous week and had been at 8 a few weeks
earlier:
Board: MONEY TALK Subject: LGND PHASE III KS Posted: January 08,1996 10:03:59 To:
HENRY NIMAN (JJFT14A) From: HENRY NIMAN (JJFT14A) MMs looking for sellers. Before
the delayed open, LGND's bid price raised to 11 1/8. Henry N Fox Chapel 1/8/96 10:04AM ET
Bulletin ID: E1A960108100359JJFT14AJJFT14A
************************************************************
Board: MONEY TALK Subject: LGND H&Q DATA Posted: January 08,1996 11:12:51 To:
HENRY NIMAN (JJFT14A) From: HENRY NIMAN (JJFT14A) Looks like all time high for
LGND today. Current bid and ask is 11 1/4 X 11 1/2 (old all time high of 11 3/8 was set last week).
Henry N Fox Chapel 1/8/96 11:10AM ET Bulletin ID: E1A960108111251JJFT14AJJFT14A
*************************************************************
Board: MONEY TALK Subject: LIGAND NEWS Posted: January 08,1996 11:32:06 To: HENRY
NIMAN (JJFT14A) From: HENRY NIMAN (JJFT14A) LGND still going. Ask up to 12 3/8.
Henry N Fox Chapel 1/8/96 11:25AM ET Bulletin ID: E1A960108113206JJFT14AJJFT14A
**************************************************************
Board: MONEY TALK
Subject: LGND-ALRIZ
Posted: January 08,1996 11:32:07
To: HENRY NIMAN (JJFT14A)
From: HENRY NIMAN (JJFT14A)
ALRIZ also setting all time high. Bid up to 18 1/2. Ask
19 1/4 (old high of 18 3/4 was set last Thursday).
Henry N Fox Chapel 1/8/96 11:27AM ET
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Board: MONEY TALK Subject: H&Q BIOTECH CONF Posted: January 09,1996 11:12:29 To:
ALL From: HENRY NIMAN (JJFT14A) H&Q Life Sciences Conference is keeping Biotech front and center. IBD lowered requirements for making stocks with highest % rise in volume table. Biotechs captured 11 of the top 55 slots on the NASDAQ. Biotechs making today's list (ranked by % increase) are: NMPS, APBI, CBMI, COCN, IBAH, GENZL, GNLB, LGND, AMLN, AGPH, BLUD. Biotechs also moved in price yesterday. 52-week highs were set by: ALRIZ, AMLN, ATHN, CBMI, GILD, HBI, IDXX, LGND, MAGN, VRTX. Bulletin ID:
E1A960109111229JJFT14A
***************************************************************
Board: MONEY TALK Subject: LGND H&Q DATA Posted: January 09,1996 09:43:10 To: ALL
From: HENRY NIMAN (JJFT14A) LGND was please with the H&Q presentation. The recent
phase II data on ALRT1057 was not as strong as the initial report because they have had discussions with the FDA and have agreed to use the FDA criteria which are somewhat different. The trial has begun and 230 patients will be used. The FDA is looking for a 15% differentional between ALRT1057 and placebo. I believe this trial will be closed label and the patient will not serve as a control (which concerned me because the CTLS patients receiving LGD1069 were beginning to show systemic effects and I was concerned that untreated or plecebo control lesions might respond even if system levels were not detected). LGND expects NDA filing in 1997. There may be nother NY Times story and they will be talking to PFE about settling the Droloxifene suit this quarter. Retinoids are cheap to make and the KS population is relatively large so approval will create a cost effective product. KS trials on LGD1069 will continue because there are very limited side effects and the compound may have a place in treating severly compromised patients (who might have trouble with systematic treatment). They were also upbeat about LGD1069 for CTLS patients because existing treatments are not very effective. LGND will hob-nob with the big boys today and tomorrow.
They will present next month at the Merrill Lynch Conference. Yesterday LGND was one of the
most active biotechs. They blew past their old all time high (11 3/8) and zoomed up to 12 1/2 in the first hour of trading. Some selling set in to knock the price down to 11 1/8 X 11 3/8 (many rec had BUYS below 12, so passing that mark seemed to generate some sells). However, near the close the price began to move again. Bid went to 11 3/8, ask to 11 5/8 and near the close bid went to 11 ® suggesting MMs were looking for sellers once again. Volume was almost 1/2 million shares in the 3 hour trading day. Look for more upward movement today (the dip is a nice buying opportunity).
Henry N Fox Chapel 1/9/96 9:43AM ET Bulletin ID: E1A960109094310JJFT14A
==================================================================
Board: MONEY TALK Subject: LGND Posted: January 10,1996 22:32:18 To: JOHN PHILLIPS
(XSMF89A) From: HENRY NIMAN (JJFT14A) JP, Bloodbath from chips spilled over into the
Biotechs today. Most closed the day down. The following lost a point or more: ALTN, AMGN,
ATHN, BBIOY, BCHXF, BIOX, CEPH, CHIR, CTII, CYTL, IDPH, IMUL, MAGN, NXCO,
PDTI, SEQU, VRTX. Lately Biotechs have come pretty far pretty fast. Look for buyers on dips to get the Boom moving in the right direction again tomorrow. Henry N Fox Chapel 1/10/96 10:21PM ET Bulletin ID: E1A960110223218JJFT14AXSMF89A
***************************************************************
Board: MONEY TALK Subject: LGND Posted: January 10,1996 22:05:51 To: JOHN PHILLIPS
(XSMF89A) From: HENRY NIMAN (JJFT14A) John, Biotechs were massacred today, especially 2nd and 3rd tier and those that had a good run. LGND was a 8 not too long ago and when the chip bloodbath spilled over into the Biotechs today, there were many who took profits, including holders of LGND. LGND is best for a long term play. Many have been buying on dips and I expect a recovery tomorrow. However, short term predictions are always hard. Stick in there. I'm confident you will be happy at this time next year if you hold. Henry N Fox Chapel 1/10/96 9:55PM ET Bulletin ID: E1A960110220551JJFT14AXSMF89A
*********************************************************************
Board: MONEY TALK
Subject: LGND
Posted: January 11,1996 09:32:53
To: HERBERT LANDON (WPSW77A)
From: HENRY NIMAN (JJFT14A)
Market is opening up and LGND bid has moved up to 10 (from
9 3/4) before the open.
Henry N Fox Chapel 1/11/96 9:33AM ET
Bulletin ID: E1A960111093253JJFT14AWPSW77A
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Board: MONEY TALK
Subject: LGND-ALRIZ
Posted: January 11,1996 11:06:37
To: HERBERT LANDON (WPSW77A)
From: HENRY NIMAN (JJFT14A)
Herb, Big boys are hopping on board now. LGND bid is up to
10 3/4, ask is 11.
Henry N Fox Chapel 1/11/96 11:04AM ET
*****************************************************************
(LGND went to 13 1/2 a few days later)
Henry |
