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: Joe S Pack who wrote (14412)	2/7/1998 7:36:00 AM
From: Henry Niman	Read Replies (1) of 32384

Karun, The decision about LLY is due in a couple of weeks. I still think that the drug under consideration is SRGN's IL-2 conjugate to treat CTCL. When I initially say the filing acceptance, I thought that an approval rec had been given. Now I think that it was just an OK for the application to be reviewed. I suspect that approval is borderline and I'm not sure what happens if LGND picks the drug and it isn't approved. I suspect that long term they are better off just taking the additional money from LLY and getting a higher royalty rate on one of the Rexinoids (LGND gets to pick), but yesterday's move may push the decision toward near term income for an approved drug. The drug does work, but can have significant side effects, and it was hard to tell from the SRGN press release how serious these side effects would be.

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