Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 206.18

+2.4%

12:52 PM EST

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To: Tiger who wrote (29419)	11/18/1999 6:17:00 PM
From: Torben Noerup Nielsen	Read Replies (2) of 32384

Based on todays activity, I suspect the vast majority of the warrant holders will take the offer and exercise early. Recall that LGND made a similar deal to retire some of the warrants a while back. But at the time it was only offered to one entity. All they have done now is to extend it to all of the holders. I of course do not know what everyone will do, but I own a few percent of the warrants by now (I've been accumulating for a long time) and I'm definitely taking the offer. Apparently so are the insiders. From Ligand's point of view, this is an interesting move. The existence of the warrants is already factored into the stock price except for the possibility of them expiring worthless. What I would like to know is why they're doing this right now? They have enough cash to tide them over for some time to come and it does not appear they need the extra $20M or so. Unless there's something we do not know about.... Thanks, Torben

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