Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 194.79

+1.3%

Dec 17 3:59 PM EST

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To: RXGOLF who wrote (25866)	9/29/1998 7:25:00 PM
From: D.Lu	Read Replies (1) of 32384

The deal for Morphelan may be a bit of a red herring here. In July of 1997 Elan gave worldwide license to it to Targon, a joint venture with Cytogen for a cash payment of $7.5 M. Due to Cytogen's financial troubles that joint venture was recently dissolved, leaving Elan free to find another developer to take it through clinicals. There are other time-release morphenes currently on the market. I feel the real issue here is Elan taking a stake in Ligand in return for the cash which it desperately needs.

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