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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: Spekulatius who wrote (22063)6/11/1998 7:34:00 AM
From: Mudcat  Read Replies (2) of 32384
 
Finally got a response from Lgnd IR. They didn't really provide any new info. Here is the response:

I apologize that your earlier note was not answered. I have been out of town Monday and Tuesday; and am just now getting to my mail.

Basically, there is no news upon which the current weakness in the stock can be blamed. Our alliances are all going well with drugs announced or in progress toward human clinical testing in nearly all of them. We, too, were disappointed that the NDA filing and positive ODAC hearing did not result in a higher stock price. We know we are building value. We have recently had several new institutional holders join the ranks of Ligand shareholders, and they too are puzzled. Sometimes there are just more sellers than buyers. Sometimes an older shareholder may re-adjust his portfolio, or a new portfolio manager comes in. Sometimes, some investors just want to take profits. We do not report to the market on these routine comings and goings, buying and selling, of our shareholders. The underlying value of this company continues to grow with each milestone. We continue to have profitability in 1999 as a key goal that everyone in the company is working toward. In the meantime there will be numerous clinical and commercial milestones for which we hope the market will reward us and our shareholders. Until then, please continue to feel free to ask ytour questions and we will try to answer them as quickly and completely as we can
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