Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 200.79

-0.2%

Nov 14 9:30 AM EST

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To: Peter Singleton who wrote (23292)	7/17/1998 10:12:00 AM
From: Henry Niman	Read Replies (1) of 32384

Peter, Speaking of reality look at LGND's chart covering Dec, 1995 and Jan, 1996: techstocks.com At that time, LGND's VCs were distributing (I think about 3 million shares) through H&Q. LGND's price actually rose during the distribution (from just below $10 to over $11) and after the overhang was gone, the price jumped to its all time high of 19 3/4. That is the reality. As far as the future impact of the AGN overhang is concerned, it really is a supply and demand issue. Sometimes an overhang at these low prices actually stimulates demand (institutions do not usually wish to force the price higher as they buy into a position). As far as Farallon is concerned, I haven't seen any indications that they are currently selling.

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