Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 197.62

+0.1%

12:59 PM EST

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To: Henry Niman who wrote (3760)	6/25/1997 3:31:00 PM
From: Andrew H	of 32384

FWIW, ( AINWM--and its not worth much), just spoke to Cheryl at ir. I asked her what was happening with the leptin deal. She said status was the same as the last time I called. Then I asked her when they would announce results of diabetes trial. She said no date for the announcement. Basically she said she couldn't tell me anything. Perhaps you have heard something about the leptin deal, Henry? Even a rumor? She was able to give me info about the warrants. The are categorically NOT CALLABLE. Also now they are fully marginable as far as the US government is concerned. Individual brokerage companies vary on this, however. At Fidelity they will not let me buy the warrants on margin AT ALL. Furthermore, they just told me that the stock itself required 80% of funds. This made no sense to me, since CYTO which is not as solvent as LGND and sells for less than 1/2 the price requires only 60% of funds. Go figure. However, Quick and Reilly will let me buy LGNDW at the usual 50% margin requirement.

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