Re: A Good Case for Waiting?
However, because of the numerous Phase III failures and some FDA non-approvable recs of other Biotechs), many investors are waiting on the sidelines for final FDA approval or product launches.... As LGND's products move through the regulatory process, I think that the off label use will come into focus and the street will reward the patient investor.
Then it is a more rational investment strategy to time one's purchases of LGND to FDA action rather than announcements from LGND researchers.
Here is the "Patience is Its Own Reward" index, which compares LGND and SPX performance since "Post Zero" on 13 September 1996. I will post it -- perhaps even regularly -- whatever LGND's price does.
The comparison is not, shall we say, a source of pride for Lake Liganders at the moment. Perhaps one day it will serve as a testimonial to the virtues of investing patience:
Base measures (13 September 1996): SPX @ close, 680.54; LGND @ close, 14.875.
Comparison will be made on the basis of a $10,000 investment: SPX, 14.694 units; LGND, 672.269 shares.
Yesterday's closes: SPX, 1,154.66; LGND, 12.4375.
Investment Value: SPX, $16,966.57; LGND, $ 8,361.35.
Relative Performance ("P.I.I.O.R." Index): -86.05%
"Hope Springs Eternal" Index (the price LGND must reach to match SPX performance over the lookback period): 25.24.
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