*** Warning: Positive SPIN and HYPE note. Read at your own risk!
Henry, I figured that I would post the entire paragraph from the Seragen news release. If you call Ligand, could you get some information on the "several current and possible future royalty bearing agreements." I realize that they got ONTAK and several other fusion protein products, but I don't remember anything about these "royalty bearing agreements."
By the end of the year, or early 1999, we could see two approved products and two new NDAs submitted for Targretin Gel and Capsules, plus a possibility of other pipeline or partnership news.
I still feel there is a significant value to the size of Ligand's pipeline. The inherent value of the pipeline is probably why LGND estimates are for around $20 within 12 months. If Ligand can hold off until the 2nd quarter of 1999, perhaps the stock price will be high enough to lessen the effect of futher dilution.
The same reasons that I invested in LGND are still there today, and more, even though I don't really look forward to more dilution.
Also, if you talk to Ligand, tell them that the shareholders want them to work day and night, in order to get those Targretin NDAs submitted. They are only allowed to take time off to have a beer and melted nacho pool party!
From the Seragen news release:
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"We are pleased to be acquiring Seragen, and with it, rights to ONTAK, a product which is currently under review by the FDA that shows promise in the treatment of persistent CTCL, and the intellectual property assets of potential commercial value from several current and possible future royalty bearing agreements," said Ligand Chairman, President and Chief Executive Officer David E. Robinson. "We are particularly pleased that, if approved, ONTAK will be the first product marketed and commercialized for the treatment of CTCL by Ligand. The Company is working to strengthen its position in CTCL and other non-Hodgkin's lymphoma therapies by filing New Drug Applications for Targretin capsules (bexarotene) and Targretin gel (bexarotene) 1.0% in late 1998 or early 1999."
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End of spin and hype (and hope) note.............
Thanks, Bob |
