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Biotech / Medical : A Good Cancer research Bio company?
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To: B. Ino who wrote (20)9/13/1996 9:21:00 AM
From: Henry Niman   of 76
 
Yesterday's LGND news is getting noticed in the press. Yesterday they were mentioned at least twice on CNBC (Winners & Losers and Market Laboratory). This morning they are on the front page of IBD (In Brief - "Ligand Pharmaceuticals Inc. said a preclinical trial of its Targretin drug showed it may help treat diabetes and prevent or treat breast cancer") as well as in the NASDAQ summary ("Ligand Pharmaceuticals Inc. junped 2 1/2 to 15 5/8 on 1.5 million shares. It normally trades 104,000. The company said animal studies suggest its Targretin drug could treat diabetes and may be used in both breast cancer prevention and treatment." The record volume translated into and 844% increase and captured the #7 slot in IBD's table on Greatest % Increase in Volume. The price jump also moved LGND's relative strength to the 90th percentile. IBD's broad based Medical-Biomed?genetics rose 1.3% yesterday. LGND also made the WSJ NASDAQ summary (as did AMLN). "Biotechnology concern Ligand Pharmaceuticals rose 2 1/2, or 19%, to 15 5/8 after saying results from preclinical studies indicated that Targretin, one of its retinoid therapeutics, may be useful in treating human type II diabetes and in treating or preventing breast cancer." Of course the 4 3/4 point gain by ALRIZ (Allergan Ligand Retinoid Therapeutics, Inc) to 28 also looked impressive in the NASDAQ tables.
In USA Today, LGND (#10, +19.0%) and ALRIZ (# 6, +20.4%) made the top 10 NASDAQ % Gainers.

Henry
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