Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 206.54

+3.2%

Jan 9 9:30 AM EST

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To: Earl Sacerdoti who wrote (4005)	7/11/1997 2:40:00 AM
From: Andrew H	of 32384

Thanks for spelling it out for me Earl. Your explanation makes sense. I had no idea they were so low in cash. The May 23rd issue of CTSL says they had 81m at that time, although his burn rate agrees with yours. >>Hence management must have solid, count-onable plans in hand (and must be executing them now) for raising tens of millions.<< If, as you suggest, they will run out of cash in September, they must indeed have solid plans. Doesn't a secondary take more than a couple of months in terms of planning, announcement, etc., in any case? I find it hard to believe the stock would be doing as well as it is if LGND was going to run out of cash in mid-September, but it is a troubling thought. Not only do they need cash to continue their operations, but they need 50 or 60m to buy ALRI, don't they. We are looking at an awful lot of money here.

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