Andreas:
I am in general agreement with what you are saying. People in this thread can't read, so I'll say that again...... I am in general agreement with what you are saying.
However, I was making the point, and it is valid, that the LGND business plan lacks leverage RELATIVE to many other biotechs. You can say what you like, but if you disagree with that, you are flat out wrong.
I made greater than 10X on AGPH. I made better than 2X on LGND before bailing two years ago, and have traded it effectively for brief bursts of appreciation since.
Ligand was every bit as "cheap" as AGPH. Johnson preserved shareholder capital and focused effort on a large market. Andreas.... I lived in San Diego. I owned both companies during the great biotech rally of '95, I attended annual meetings and local seminars for both companies, I watched both grow, I watched the parking lots of both companies to study the work habits of management and their employees, and I served on a steering committee with Robinson for the UCSD Dept. of Biochemical Engineering. I was V.P. Product Development at a local biotech, and had plenty of op to interact with scientists from both companies. To give Henry a rush, I was roomates with Ron Evans when we were graduate students together at UCLA (Henry is correct, he'll probably get the Nobel, and his piss is not subject to gravity like the rest of us). Perhaps, just perhaps, I know what the hell I'm talking about.
Let's see Robinson do something correct for his shareholders for a change. I bought some calls yesterday with a far-distant maturation.
This thread just flat out doesn't welcome informed commentary.
Rick
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