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Biotech / Medical : Ligand (LGND) Breakout!
LGND 205.01+2.1%11:33 AM EST

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To: Paul Moerman who wrote (17370)3/13/1998 1:03:00 PM
From: Andreas Helke  Read Replies (1) of 32384
 
1996 I had an unprofitable habit of buying Chiron and Isis and dumping in for a small loss a short time later. I eventually decided to stay in Isis and out of Chiron. Isis promptly rewarded me for my decision by dropping from my $19.6 buy price to $13 and has stayed inside this range till now. Yesterday I decided to do some averaging down and bought 50% more. It's nice that a biotech that I just bought shares of keeps going up after I buy. I am not really used to such a behaviour. I still have 15 times as much invested in Ligand than I have in Isis.

Isis has a several compounds in clinical tests and an interesting technology but is still far away from profits. Therefore I don't really know if it is cheap or expensive at the current price level. But it is clearly a better value then it was when I started buying in 1996.

Andreas
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