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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: kha vu who wrote (29196)	8/18/1999 10:09:00 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 32384

The following news item and a couple of analyst downgrades caused the stock to fall. I actually bought a little more today, but I am afraid it will be a long time before they show a profit. NEW YORK, Aug 17 (Reuters) - Shares of Ligand Pharmaceuticals Inc. tumbled about 25 percent to their 1999 low Tuesday morning following Ligand's warning that it would not be profitable until 2000 instead of its original target of 1999. Its stock was off 2-9/16 at 7-3/8 in late-morning trading on Nasdaq, where it was among the top percentage-losing issues on the morning. After the market closed on Monday, Ligand reported a second quarter loss of $0.40 a share, compared to a loss of $0.45 a share the previous second quarter. Analysts had expected Ligand to lose just $0.10 per share, according to the research firm First Call/Thomson Financial. "The second quarter results indicate that it will take longer to achieve profitability than we had expected and that our goal of profitability for 1999 will be delayed to 2000," Ligand Chairman, President and Chief Executive Officer David Robinson said in a press release. The First Call/Thomson Financial estimate had been for Ligand to earn a profit of $0.14 a share in the third quarter and earn $0.28 in the fourth quarter. The 1999 full-year estimate was a loss of $0.05. Ligand stock peaked in October of 1997 at 18-5/16. Its high for 1999 was in February, at 13-15/16. The stock reached an all-time low of 5-12/16 about a year ago. Ligand specializes in blocking and activating genes.

To: kha vu who wrote (29196)	8/19/1999 2:48:00 PM
From: RWReeves	Read Replies (1) \| Respond to of 32384

LGND used to be valued based on technology- moves up were on announcements of trials, results, patents and FDA action. Now suddenly it's off to the woodshed for not breaking even fast enough? Should LGND cut it's R&D spending to make the numbers expected? Yeah, that would be a good move. Somebody has been watching too many AMGN re-runs. IMhO LGND is cheap cheap cheap based on technology and products and this is another opportunity presented by lemmings jumping off the cliff. RWR