Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 205.09

+3.0%

2:07 PM EST

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To: Henry Niman who wrote (10473)	10/30/1997 11:11:00 PM
From: squetch	Read Replies (1) of 32384

Henry, They do list some convertible preferred stock also. What is a liquidation preference? More to the finance folk. SRGN lists ~30M of liquidation preference value. Common mkt cap is like 12M. Heck Andy and TD could probably write a check for that. The technology seemed to be a good fit to me which is why I guessed it was it. The financing is really screwy. Personally it seems like academics run amok. Please don't take that as a condemnation of all academics.(:>) Any talk of LGND up in Boston, as BU owned 75% of it at end of '96? It seems to me to be a better buyout than pick of LLY's compounds b/c of the financing. squetch

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