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Biotech / Medical : Ligand (LGND) Breakout!
LGND 184.82-2.0%Dec 5 9:30 AM EST
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To: Mudcat who wrote (16990)3/9/1998 7:59:00 PM
From: Andreas Helke  Read Replies (1) of 32384
 
In option 2 besides of the equity investment Ligand gets a higher royalty rate for one of its compounds.
No matter how Ligand decides we get some dilution but in one case Ligand gets cash for the shares in the other case it gets an additional late stage compound for its pipeline.
From the wording of the press release I expect that Ligand chooses the compound from Eli Lilly.

Andreas
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