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Biotech / Medical : Ligand (LGND) Breakout!
LGND 187.40+0.8%10:48 AM EST
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To: Henry Niman who wrote (9633)10/20/1997 1:06:00 PM
From: Arthur Radley   of 32384
 
Granted that they are getting $37.5M upfront, but the 2M shares is a "big string" to we current stockholders. It would seem likely that the money for the research would be at the BEGINNING but who knows, it could be a pay as you go deal.
Henry,I know that we all want to put the best spin on the deal but we also have to guess at alot of what is left out of this announcement....% of royalty payments, when will research money be paid. The use of the term double-digit is more than ambiguous since they have been specific in earlier deals(to the best of my memory).
The bottom-line is that as investors we have to live with what the market place does to the value of our stockholding and today isn't that great of a day to be holding shares in the 5 digit area as I am.
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