Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 203.50

-1.6%

3:59 PM EST

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To: tonyt who wrote (14267)	2/5/1998 8:08:00 AM
From: Russian Bear	Read Replies (1) of 32384

<<The warrant would be worthless if the stock was at $6. (actually it would trade at pennies)>> Tony, That entirely depends on the timing of the hypothesized debacle. If it occurred in May, 2000, then I would agree with your analysis. If, however, it occurred tomorrow, the warrants would most certainly not trade "at pennies." (The strike price would be less than 20% above the current price, with 28 months to go...) They would suffer a higher decline than the common, percentage-wise, but the monetary losses on 1000 LGNDW would be substantially less than those on 1000 LGND. I must add to the above that I find it hard to imagine LGND at 6, in any event. RB

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