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Biotech / Medical : Ligand (LGND) Breakout!
LGND 201.56-2.2%12:21 PM EST
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To: Russian Bear who wrote (13277)1/13/1998 10:49:00 PM
From: Henry Niman  Read Replies (2) of 32384
 
RB, I'm not sure what is holding LGND's price down. Andy had speculated taht it was the size of the KS and CTCL markets. LGND does plan on chraging a fair amount for these treatments, so although the target population will be smaller than many cancer types, the income will still be significant. Today's presentation indicated that Targretin was effect against some major killers. I expect MDs to use these compounds base on clinical trial results, before they are approved for the larger indication. Targretin has been safe so far, and these patients are dying. Targretin seems to be effective even against advanced patients who have failed prior therapies. I don't think that oncologists will be overly concerned about being sued for using Targretin. In fact they might be worried about the legal consequences of not trying the drug on termally ill patients.

The market may be concerned about dilution (although the LLY shares would be locked up) or selling pressure may be coming from Farallon (or a combination of both).

In any event, LGND is a steal at these prices, and buys at this level should be all smiles as NDAs get filed and more compounds enter the clinic (at the expense of LGND's partners).
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