Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 197.88

-1.2%

3:59 PM EST

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To: Henry Niman who wrote (24508)	8/14/1998 4:45:00 PM
From: jayhawk969	Read Replies (1) of 32384

Thread, The earnings release is disappointing but not totally unexpected. It obviously had a great deal to do with the late afternoon selloff. The current price of the stock has negative implications for Ligand in at least two ways: 1. It will be difficult to do an early conversion on LGNDW at such low prices(why would anyone want to go from an investment that has a maximum risk in it of aprox. 3.5 to 3.5 plus the exercise price?). 2. Further obligations such as Lilly milestone payments and Ontak payments for Ontak approval are anticipated to be in stock. If stock is issued at this price it creates severe dilution. The alternative of cash is nt necessarily a good one either. The pressure is on for this company and its leaders to perform to positively impact the stock price. J.D.

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