Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 185.83

+0.6%

Dec 9 3:59 PM EST

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To: WTDEC who wrote (19573)	4/24/1998 11:17:00 PM
From: Flagrante Delictu	Read Replies (3) of 32384

WTDEC, OFF TOPIC Re: Farallon. Without knowing for certain, I suspect that they have a short position in LGND stock of approximately 20% of their total long position in the warrants. If I am correct, that would mean a short position of around 380,000 shares of LGND, Leaving them net long a little over 1,550,000 of Ligand's shares via that many net unhedged long warrants. They also seem to believe that at the right differential, the warrants are preferable to the stock.

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