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Biotech / Medical : Elan Corporation, plc (ELN) -- Ignore unavailable to you. Want to Upgrade?

To: jayhawk969 who wrote (3549)11/13/2002 1:40:06 PM
From: jayhawk969  Read Replies (2) | Respond to of 10345
 
LGND dilution--
3 year call. 6.75% interest. Another 10 million in cost to overcome. Strike price 15% over market. Right now that means aprox 6, and 22 million shares. Approx 30% dilution.

How does one do 30% dilution for 20% of a single product and pay $4 over market for its own shares? Fred, Harold, others help me out here, this appears to be a very bad deal for LGND.



To: jayhawk969 who wrote (3549)11/13/2002 2:59:11 PM
From: nigel bates  Respond to of 10345
 
Robinson continues to be the absolute worst CEO when it comes to dilution.

The more likely explanation.

Though he might have competition ?



To: jayhawk969 who wrote (3549)11/13/2002 4:27:58 PM
From: Qualified Opinion  Respond to of 10345
 
You should consider the probability that LGND is considering the future potential of Avinza with an aggressive marketing partner.

Your analysis doesn't take into consideration potential future revenue discounted back to current value. Analysts are usually very short term oriented which reflects your comment.

However, LGND should have been able to name the new marketing partner.


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