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Biotech / Medical : Biotech & Pharma.T.A,

BIB 77.21

-1.5%

4:00 PM EST

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To: Jibacoa who wrote (1817)	10/15/2007 9:32:14 AM
From: Jibacoa	Read Replies (1) of 3722

LGND Is trying to get back above the $6 level with the help of some positive news.<g> bigcharts.marketwatch.com Ligand Earns Milestone Payment as Wyeth Submits European Market Authorization for Bazedoxifene Monday October 15, 9:15 am ET SAN DIEGO--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (NasdaqGM: LGND - News) (the “Company” or “Ligand”) today announced that it has earned from Wyeth (NYSE: WYE - News) a milestone payment of $250,000 as a result of Wyeth’s submission on September 5, 2007, of a Market Authorization Application (MAA) to the European Medicines Agency (EMEA) for approval to market bazedoxifene for the prevention and treatment of osteoporosis. The milestone payment arises from a December 2005 agreement between the two companies and reflects progress in the development of bazedoxifene, a selective estrogen receptor modulator (SERM). Bazedoxifene is a synthetic drug that was designed to reduce the risk of osteoporotic fractures while protecting breast and uterine tissues. Wyeth received an approvable letter from the FDA in April 2007 for the treatment of osteoporosis and submitted a second new drug application (NDA) for bazedoxifene in the U.S. in July 2007 for the prevention of osteoporosis. “We are very pleased with the excellent progress Wyeth has made advancing bazedoxifene toward regulatory approval in both the U.S. and Europe. The recent EMEA and FDA submissions illustrate the potential of our strategy to increase shareholder value by partnering with key pharmaceutical companies whose development capabilities capitalize on our strong drug discovery science,” said John L. Higgins, Ligand’s President and Chief Executive Officer. Snip The stock split 4x3 in April. The short ratio is around 21x its DAV.<g> LGND has a good size LTD & trades at > 20x BV, but with some good news it could get back to the $10 level.<g> bigcharts.marketwatch.com Bernard

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