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

To: targetedmoab who wrote (10168)	10/27/1997 6:33:00 AM
From: Henry Niman	Respond to of 32384

Steve, I always recommend LGND long term and of course I view the pullback last week as an excellent buying opportunity. The drop was primarily retail, on low volume. Part of the selling was profit taking on the news,and part was concern over market conditions. LGND presents tomorrow (at Oppenheimer), before the open, and I expect initiations of coverage soon by some major brokers. Biotechs typically begin to rally in Nov/Dec and LGND is presenting again in about a month (at Robertson Stephens). As I have posted previously, LGND has quite a bit of news to report, including pivotal Phase III data for topical Panretin for KS, which I expect to be good (its the same protocol as the halted International trial) and it will be followed 2-3 months later by an NDA filing. LGND will probably choose a LLY compound soon (they have 90 days post finalization ofthe diabetes deal), which will set the stage for profitability in 1999, a year ahead of schedule. I still expect LGND to hit 20 before the end of the year and 30 before the end of August, 1998.