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

To: Henry Niman who wrote (29694)	12/17/1999 9:35:00 AM
From: bob zagorin	Read Replies (1) \| Respond to of 32384

Thanks Henry, I agree a correction is in order. I will write her myself.

To: Henry Niman who wrote (29694)	12/17/1999 10:02:00 AM
From: WTDEC	Read Replies (1) \| Respond to of 32384

Henry, very good of you to send such a letter to SO'B. Most reporters out there just don't have either the scientific or the finance training to be accurate. Unless someone points these things out to them, they will never improve. As a LGNG stockholder, I must say thank you Henry. Best regards and seasons greetings to you and the family. Walter

To: Henry Niman who wrote (29694)	12/17/1999 4:48:00 PM
From: B.D.	Read Replies (3) \| Respond to of 32384

So who else held on to their LGNDW warrants? Anybody?

To: Henry Niman who wrote (29694)	12/18/1999 12:08:00 AM
From: Cheryl Galt	Respond to of 32384

RE today's 12/17 SEC report, and the "Fourth Notes" ($20 million) -- and slanted journalism The first three sets of notes to Elan ($80M total) all convert at $14. The formula for future notes called for a floor of $14 and a ceiling of $20. 08/16, Noting an 8/13 "Letter Agreement," the 2Q press release said, "Ligand and Elan have agreed to amend the existing convertible note agreement ... remaining notes with terms similar but not identical to the notes previously issued to Elan." 08/31, the "Fourth Notes" were sold, $20M. 11/15, the 3Q press release noted the sale, but didn't mention the conversion price. 11/18, Press release - warrant exchange offer, expiring 12/17 12/17 Today's SEC Report ------------------------------- Questions for anyone: Did anyone notice the conversion price of the 8/31 Fourth Notes?? (The convert price was also mentioned in a SEC Report dated 9/10, but never mentioned in any press release.) With Targretin approval and off-label sales so close, was Lgnd negotiating from strength in that Letter Agreement? Does anything about this set of company communications bother you? Cheryl