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Biotech / Medical : Ligand (LGND) Breakout!
LGND 190.43-0.7%Feb 6 9:30 AM EST

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To: MulhollandDrive who wrote (7616)9/25/1997 12:01:00 PM
From: Henry Niman   of 32384
 
<<Waiting for approval was "frequently too late."
Meaning?>>

Investors waiting for a drug to be approved before they buy get caught in the "buy on the rumor sell on the news" situation.

Buying on strong Phase II, "takes out most of the risk".
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