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Biotech / Medical : Ligand (LGND) Breakout!
LGND 199.53+1.5%Jan 21 3:59 PM EST

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To: Arthur Radley who wrote (29068)7/20/1999 3:47:00 PM
From: Henry Niman  Read Replies (1) of 32384
 
Sunday's San Diego Union had a story on the return of Venture Capital to Biotechs. LGND was mentioned:

"Others who have not given up hope insist that the companies they're starting now are fundamentally different from those that have failed in the past. For one thing, they have no plans to invest in companies that plan to discover the next billion-dollar drug, a process that can take a decade or longer.

That was the goal of many first-generation biotech companies in San Diego and elsewhere, as such companies as Ligand Pharmaceuticals and Agouron Pharmaceuticals raised millions of dollars and then spent years on research and testing. Ligand and Agouron did produce drugs, but many still haven't-- to Wall Street's great frustration. "
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