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Biotech / Medical : Ligand (LGND) Breakout!
LGND 206.84+2.8%Nov 18 3:59 PM EST

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To: Henry Niman who wrote (27163)1/4/1999 11:25:00 PM
From: aknahow  Read Replies (4) of 32384
 
Henry, you don't look better by doing something stupid. Early exercise is fine. that's up to the holder, if and when they can make a profit by doing so. Paying someone to exercise early is a bit different. Please help me see where the rumor said LGND would pay holders to exercise early. I still await S.E.C. reports to believe with confidence exactly how much cash was raised from Elan with the sale of the zero coupon debentures.

Henry, even if an old rumor, why do you think it was a good move? The 4th quarter balance sheet argument does not really do it since it is very debatable if giving away shares at a 30% discount makes it look better. I respect your opinions in the science area but reserve judgement in the finance area, if the best you can come up with is, "look better." You know it is probable that we all make mistakes. It is possible LGND just made one this time, in dealing with its' shareholders. It does not seem necessary to defend management for anything and everything they might do.
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