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Biotech / Medical : Ligand (LGND) Breakout!
LGND 203.18-1.4%Nov 28 9:30 AM EST
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To: Cheryl Galt who wrote (28487)3/9/1999 2:01:00 PM
From: Machaon  Read Replies (4) of 32384
 
Revisiting the latest news release:

" ... however, the return of Targretin rights will now permit us to rapidly generate revenues from distribution agreements pending in territories in which we will not directly market Targretin in oncology and dermatology" said Ligand Chairman, President and CEO David E. Robinson. "We expect these opportunities plus potential milestone revenue from the second generation compounds will contribute to our march to profitability this year and next," he continued.

As we await NDA news about Targretin, or anything else in clinical trials, it's interesting to note that Robinson expects "Targretin opportunities" to rapidly contribute towards 1999-2000 revenues.

It's no wonder that a couple of analysts thought that Targretin was already approved.

This was either a very misleading statement, or a very confident pre-announcement of solid clinical results in oncology and dermatology. How else could one interpret the release? Robinson is saying that opportunities for Targretin in oncology and dermatology will contribute towards profitability in 1999-2000. OTOH, the phase II breast cancer trials only started late last year. How much progress can there be?

Was he just trying to take the sting out of the long delay in the diabetes program, or can we "expect" significant and positive Targretin announcements shortly?
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