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

To: Andrew H who wrote (10075)	10/23/1997 10:39:00 PM
From: tdinovo	Read Replies (1) \| Respond to of 32384

Andy, There's an old bromide "The market always anticipates". I'm not sure that statement is anything approaching a "law" but it sure seems operative right here. Sturza was talking COR literally for years, often pounding the table. Then, one day, it was like all the other analysts woke up at once and the stock took off. I agree with the sentiment you expressed regarding closeness to market approval. The early days of biotechnology produced too many "can't miss" products that blew up in investors faces. Large investors are gun shy now and would rather pay more than make a mistake. Ligands product portfolio is truly amazing and will ultimately make a lot of investors rich. But my guess is those investors will have to be patient, to reap the bonanza. Hard to do (at least for me). But worth the wait! We also need to get past the overall market turmoil that roiling things right now. IMO, nothing is going to make much progress until things settle down. (Except, perhaps, AMGN.(:>)) Ted.

To: Andrew H who wrote (10075)	10/23/1997 11:16:00 PM
From: Hippieslayer	Read Replies (2) \| Respond to of 32384

Your points are well taken, Andrew. LLY made a big commitment to LGND and vice versa-LGND also has to come thru or much of the $174mm goes hasta la vista, baby . There are a lot of deals that have been made between big and small pharmas but have there been many deals of the magnitude that just took place. If this deal is as big as everyone is saying and bigger than what normally takes place, then I hope it slapped many analysts into taking a second look at LGND. I guess time will tell. More importantly, What about all the conferences LGND attends? How many analysts attend and from where? I can't believe there are many biotech analysts that aren't aware of LGND. In fact, do you or does anyone know how many biotech analyst lurk around wall st? I'm stretching the analagy a bit, but I'm starting to think that LGND is the Rodney Dangerfield of biotechs, it justing isn't getting the respect it deserves considering the overwhelming postive press/deals/science/and thread it enjoys. Good night, See you all at 5am PST