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Biotech / Medical : Ligand (LGND) Breakout!
LGND 203.54+2.2%12:33 PM EST
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To: Mudcat who wrote (17629)3/18/1998 4:56:00 PM
From: Flagrante Delictu  Read Replies (1) of 32384
 
Mudcat, Why didn't LGND wait? It's hard to know what price a stock will sell for at a specific date in the future.
The rest of the thread seems to feel that an NDA filing might have a positive impact on the stock, but you have pointed out how LGND management doesn't think the stock is worth what it's selling for.
In that case, wouldn't you try to jam it down the throats of the drug companies that are so anxiously accumulating it? LGND is getting a 20% premium now & received $6.67 per share for the right to jam 150,000 warrants to SBH exercisable at $20 per share in 5 yrs., with certain rights to force the sm _cks to exercise after only 3 yrs.
LGND would then have received a total of $26.67 for those exercised shares.
In the remote event {according to your analysis that mgt. thinks the stock is too high now } that the drug companies might even know what they are doing; and, therefore that your analysis is flawed, then, mgt. still has the chance to buy the stock back from them after the drug cos. "start selling" { which you mentioned}, or even worse, panic and regurgitate their stock into the bottom of a waterfall decline of '87-like proportions. That could be a heck of a trading profit for any mgt. that knows what it's stock is worth.
How about "them" apples? Bernie
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