Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 206.36

+1.4%

3:59 PM EST

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To: Dan O. who wrote (28369)	2/22/1999 10:16:00 PM
From: bob zagorin	Read Replies (2) of 32384

BOP continues solid green but all momentum indicators followed the price down. I see just below 10 as a very important support as it was the nov-dec. low. for those who care, here's some of what CTSL has to say today "Ligand Pharmaceuticals (Issue #340) dropped 17% on news that wasn't nearly that bad. Eli Lilly is shifting its development efforts from three of Ligand's diabetes drugs to some second-generation Ligand drugs. Wall Street quickly misinterpreted this as a negative for the three drugs, one of which is Targretin, just approved in gel form for Kaposi's sarcoma. It's not. In fact, it gives LGND some flexibility in signing new distribution agreements for Targretin for other indications, such as breast cancer and psoriasis, where trials wrap up in 1999. In the meantime, the therapeutic index (benefit-to-risk ratio) of the second generation drugs is better for diabetes, which is why Lilly made the switch. But Wall Street chose to ignore Lilly's validation of the second generation technology. Ligand can still be profitable this year, depending on the new deals they sign, and should be solidly profitable in 2000. This is a superb buying opportunity..."

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