Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 200.79

-0.2%

Nov 14 9:30 AM EST

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To: hal jordan who wrote (14423)	2/7/1998 12:04:00 PM
From: Henry Niman	Read Replies (1) of 32384

Hal, Yesterday, Lehman Brothers came out with a report on LGND's earnings: lehman.com If you don't have Abode Acrobat, here's a brief summary. They reiterated their 1-BUY rating (the highest that they give) and reiterated their target price of $24. They indicated that the $0.09 operating loss was better than they projected (-$0.32) and the improved numbers were due to higher than expected collaborative revenues combined with lower than expected R&D expenses. This quarter they expect an NDA filing for topical Panretin (for KS) as well as an AHP IND for TSE424 (SERM for treating osteoporosis, like LLY's Evista, aka Raloxifene, or PFE's Droloxifene and CP-366,156 - LGND is involved will all of the above). They also expect three more NDAs this year (oral and topical Targretin for CTCL) or early next year (oral Panretin for APL). Not much new, but very impressive nonetheless. They haven't changed estimates for this year yet, but a change to lower losses would not surprise me.

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