Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 206.01

-0.4%

Nov 19 3:59 PM EST

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To: Andreas Helke who wrote (11377)	11/18/1997 4:55:00 PM
From: Andrew H	Read Replies (1) of 32384

>>Ligand never managed to get even to a cheap valuation and can only be called a steal at current prices. And the best biotech pipeline is included in the deal for free. I think I have to put Ligand back on my buy list despite of already owning a portfolio that is overweight in Ligand. Andreas << Andreas, of course all this is based on one method of valuing biotechs. I suspect that this method of valuation itself may have little value. It sounds suspiciously to me like Mike Murphy's method and his record in biotechs speaks for itself. Simply because a biotech spends a lot of money on R and D doesn't mean that they will ever get a drug through trials or earn a penny. It all depends who is spending the money, how they are spending it and on what. Throwing money at a problem is no guarantee one will solve it. I do agree that this method might be useful as one of many criteria for valuing a biotech, but by itself, I find it misleading at best.

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