Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 206.36

+1.4%

Nov 26 3:59 PM EST

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To: Andrew H who wrote (9788)	10/21/1997 12:47:00 AM
From: Henry Niman	Read Replies (1) of 32384

<<6. A very interesting aspect of the agreement is LGND's ability to select one LLY specialty pharmaceutical. Any idea what LGND has in mind here? Apparently LGND has 90 days to select this product. If they do, they may have to pay LLY 20M in LGND stock in milestones. If LGND does not exercise this option, then LLY will have to buy another 20M worth of LGND stock at a 20% premium to the market. Also, Targretin royalties will increase 1.5%. Kind of turns the tables on LLY. >> Yes, I know exactly what LGND has in mind. This compound is sufficiently advanced and will produce enough income to allow LGND to achieve profitability in 1999.

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