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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: Henry Niman who wrote (7621)9/25/1997 12:17:00 PM
From: MulhollandDrive   of 32384
 
Henry, I suggest you go back and look at the history on AMGN and I think you will find that your "buying on strong Phase II" is patently wrong. Of course there will be some "sell on the news" for short term traders (which most of LGND holders on the thread apparently aren't), but if LGND gets a marketable drug approved, you should have a long-term growth phase in the stock price appreciation with minimal risk. The main risk being for an "approved" drug being another competitor coming out with a "better mouse trap". Even that risk is minimized because the barrier to entry would be a high hurdle to overcome while your "approved" drug is gaining acceptance. There is absolutely no reason for anyone to think that they "have to get in" before the news is out to make excellent gains with minimal risk. LGND is trading near it's all time high right now without a confirmed approval for it's product. That puts it a very high risk position, imo. I would much rather pay 30 for the stock once approval has been granted and hold, than pay 17 now and watch it tumble to 9 a la AMLN on a faulty or disappointing news release. Not saying that will happen, but until LGND has confirmed approval, the potential is always there. This is still far from being a sure thing. bp
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