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

To: Arthur Radley who wrote (29447)	11/20/1999 10:31:00 AM
From: bob zagorin	Read Replies (1) \| Respond to of 32384

CTSL had a long write up on LGND in new issue. Here's excerpt on Q. "...It's been a long time coming, but it appears CEO David Robinson will get Ligand profitable in the next nine months just as he's been promising. Remember – biotech stocks typically double in the twelve months before they go profitable. Panretin gel sales were light in the third quarter, but sales of Ontak rose to $2.9 million from $1.7 million in the prior quarter. That's a $15 million run rate two quarters after Ontak's introduction. Ontak's not getting a lot of off-label use yet, but academic centers are interested in trying it for new and different indications. Ligand expects Ontak to be a major driver of their oft-mentioned “march to profitability” next year. Cash rose to $47.9 million versus $35.9 million..." in the prior quarter. Murphy also said they're forcing warrant redemption now because they think it will cause less dilution (that's what i thought). He says 2.9 of the 6.5m warrants hadalready been redeemed. He reiterate a strong buy up to 16. FWIW.