Hmmm!? Mudrat, I'm surprised at you! You are trying to prove that ONTAK, and the rest of Seragen's fusion protein science and subsidiary, are not worth a $75 million investment because of the Seragen stock market value?!
Do you invest in stocks based on stock price only?
Aren't you the least bit interested in any other details? Is the value of Seragen's stock a real measure of the value, to LGND, of buying Seragen?
How about the average cost of getting a drug approved by the FDA? Industry wide, the average cost of a drug getting approved is $1 billion dollars, when taking the average of all drugs, successes and failures!
Ref: emax.com
Also, Ligand has pursued Seragen for well over a year. Unless you have absolutely no confidence in Ligand's management, you'd have to believe that they have seen significant value in purchasing Seragen. If you don't have confidence in Ligand's management, why are you investing in the company?
Instead of shelling out $75 million for Seragen, Ligand could've taken a substantial amount of money from Lilly. They chose Seragen instead.
<< Funny how we see things so different Barry. >>
Yes, isn't it!
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