Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 194.79

+1.3%

Dec 17 3:59 PM EST

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To: Henry Niman who wrote (13392)	1/15/1998 5:43:00 PM
From: celeryroot.com	Read Replies (1) of 32384

I am not sure what you mean by " Ligand sales". In order to cover, they need to exercise the warrants and take possession of Ligand shares then turn over(unless, of course, they buy on open market). Thus, the reason for my question on how many warrants were exercised. Actually, this is great. Obviously Ligand would rather have the cash for the warrants now rather then 2+ years out when the stock hopefully is at a price multiple of what it is today. Ligand would not like to have 6 million more shares diluting at 7 two years from now. The need for cash now is greater then it will be in the future(hopefully).

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