Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 203.18

-1.4%

Nov 28 9:30 AM EST

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To: Proton who wrote (12240)	12/8/1997 11:50:00 AM
From: Henry Niman	Read Replies (1) of 32384

PP, If you don't like the ask as an indicator, how about the bid? It's up to 13 15/16. Volumes on the light side, but it looks like MMs are trying to find some sellers. I would be extremely surprised if the Phase III Panretin data were not announced this week, which as you have noted, should trump any technical considerations. I expect the big boys to soon throw in the towel and beginng paying $14 or more to get in before the news. I also expect Farallon to stop shorting LGND, which should remove most of the selling pressure. They have created an artificially low price, which should be rather unique since ALRI is now gone.

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