Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 199.20

+0.1%

Nov 21 9:30 AM EST

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To: WTDEC who wrote (17259)	3/11/1998 11:41:00 PM
From: Flagrante Delictu	Read Replies (1) of 32384

WTDEC, Re: a 20% premium owed by LGND? Sorry, Walter. I neglected to answer, in my prior post to you ,the question you asked of whether LGND would have had to pay LLY a 20% premium over market price, if they chose the compound rather than the stock. No, I see nothing in the release that would require that. The actual contract probably specified that the price would be computed on the same basis,without the 20% premium due from LLY , that LLY would have been obligated to pay LGND for the stock. It is my belief that this stock cost part of the deal remains unchanged from the original specifications. Bernie P.S. The contract reads that LLY could receive milestones of " up to $20 million" in LGND stock. Obviously, there are some qualifications specified that we are unaware of.

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