Ligand (LGND) Breakout! Message Board

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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: Henry Niman who wrote (22229)	6/15/1998 2:02:00 AM
From: Spekulatius	Read Replies (1) of 32384

Henry - this explains a lot. But I still believe that issuing a lot of shares hurts the stock price and LGND has to do this in the near term future to fund its pipeline. What I like about a co. like VRTX is that they are sitting on a lot of cash (260M$)and thus have staying power even when the equity markets go down. The question, that's bugging me with LGND is what they will do to fund their pipeline, if the stock markets go down... Cash hungry co. usually go down in ' bad weather ' conditions a lot. In the worst case a cash rich big pharm cut buy up the co. or licence their pipeline for cheap. A wise cash management is crucial for an biotech. VRTX has just been lucky that they sold a lot of shares at a very high price... VRTX is also a co. with a system approach, as well as ISIP, LGND and AGPH and unlike Creative Biomolecules which somewhat reduces the risk. I'm following this thread for almost two years now - and look at LGND as an possible investment. I believe critical remarks are as important as positive ones - as long as we keep the emotional side away from this forum.

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