Jeffers, This type of price activity isn't all that unusual.
Many, including the big boys, like to buy on dips. I was disappointed
at today's move, but I wasn't that surprised. If you look back a
few weeks, you'll see that LGND took a break around 14 before moving
to 17. Same thing happened last year. After H&Q it paused and then
extended its all time high from 12 to 13 1/2 (and a couple of months
later it set an all time high of 19 3/4 on leptin news). LGND has much
more news scheduled this year (leptin deal, phase III interims on Targretin
for CTCL, phase II/III clinicals on non-small cell lung cancer, start
of phase II clinicals on type II diabetes, results of phase II clinicals
on type II diabetes, one or more alliances for type II diabetes,
PFE and AHP INDs for progesterone and estrogen analogs, lots of phase II
studies for Panretin and Targretin oral, many phase I trials for
ALRT1550 (LGND currently has approximately 30 clinical trials ongoing
just for Targretin and Panretin), identification of lead candidates for
other alliances (GLX-atherosclerosis, ABT-inflammation, AHP- women's
health), decisions on which retinoids will enter trials in 1998,
final phase III data for Panretin in topical KS and three phase III trials
for Targretin in CTCL. IND's for Panretin and Targretin.
The list for 1997 goes on and on.
Henry |
