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

To: schadenfreude who wrote (29510)	11/30/1999 1:44:00 AM
From: Cheryl Galt	Respond to of 32384

> I thought interim results were due by year-end? < You noticed that too! Note that additional psoriasis reports are also slid to "first half 2000." (As of 6/23/99, 34 patients were enrolled in the Ph II European psoriasis study, and Ligand planned to add two new dose levels to the study.) The last mention of interim results was in the 6/23/99 press release -- the NDA filing announcement businesswire.com --------------- This was quite a clever press release. Basically just an announcement of the European MMA filing, with the new estimates tacked on. And the news came a decent distance after the early exercise offer, but in time to affect decision making. ------- Responsible analysts will certainly adjust their expectations regarding quarterly eps, and profitability. A profitable quarter in 2001 sounds do-able to me. I'm glad the company gave this guidance. It's far better than blindsiding the Street with negative surprises. And it nipped in the bud volatility-engendering not-to-be-satisfied expectations. Actually, I'm relieved that they're waiting to release ABC results. I always wanted them to first gather as much strong statistical data as possible, hopefully with long duration of responses -- rather than release early initial responses. IMO Release of strong Ph II results at ASCO in May -- with Targretin already on the market -- would be nice timing. Cheryl