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

To: celeryroot.com who wrote (29560)	12/8/1999 8:44:00 PM
From: Roland Batson	Respond to of 32384

Considering, "Ligand will issue 498,443 shares at a price per share equal to $10.03, the average closing price of Ligand common stock for the five trading days immediately prior to the receipt of the notice from Elan of the milestone accomplishment.", can anyone that really knows the answer tell me if this average price was determined using the $16 "last trade" price that so many of you have felt worthy of discussing? Or was the "receipt of the notice" received prior to last night? Oh never mind, let's just discuss whether this is good news or bad news, and whether the stock should go up or go down tomorrow and/or the next few days. Henry? Roland