Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 185.97

-0.4%

Feb 10 3:59 PM EST

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To: Andrew H who wrote (11983)	12/2/1997 4:03:00 PM
From: Henry Niman	Read Replies (2) of 32384

Andy, Its hard to say what the deal is with AGPH. My biggest concern for them centered on their core technology. Viracept was a huge success, but I've always wondered if it was due to "rationale drug design" or luck. They had lots of competition, but came up with the best PI and captured a significant market share. The big questioned centered on what they would do with the profits. Thymitaq seems to be a flop, but they may have decided to do the MMPI on their own. However, if it doesn't do well, then AGPH will have lots of money, with a huge hole in their pipeline. That's really one of the reasons that LGND is so appealing. They are grossly underfunded, even with the cash infusion from LLY. When they start generating real dollars, the full potentional of their technology will begin to be realized. They have elected to pursue many avenues (in large part financed by partners at the clinical level), and it takes time for the street to figure out the true numbers. I thought that the Robertson Stephens EPS projection of $14.55 in 2006 was LOW!

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