Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 203.18

-1.4%

Nov 28 9:30 AM EST

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To: bob smith who wrote (17312)	3/12/1998 1:03:00 PM
From: Andreas Helke	Read Replies (2) of 32384

The Nasdaq biotech index is market cap weighted. Therefore Amgen is its by far most important component and when Amgen is doing well the index has to follow. The slow but consistent upward movement of Ligand was nice as long as it lasted but we can't really expect that downward movements get outlawed. And if they were you would be stuck with overvalued shares of companies with poor prospects because there would not be any buyers for your overvalued shares. We do now have the rumor of an NDA filing which will be replaced by the rumor of an NDA approval which will be replaced by the rumor that Ligand will soon be a biotech with profits. The market cap will still have to double to adopt to the status of an profitable biotech company. Andreas

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