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

To: Zeuspaul who wrote (11231)	11/16/1997 1:23:00 PM
From: Andreas Helke	Read Replies (1) \| Respond to of 32384

Agouron went up from $30 to $100 (split adjusted from $15 to $50) in anticipation of the Viracept NDA. When Viracept was actually approved Agouron went down and when Agouron became profitable earlier than expected the share price went down again. It seems anticipation of good things to come is far more effective in moving share prices up then the actual events themself. I expect a major move up in anticipation of Ligands first NDA but it might be off a lesser percentage than the Agouron move because the drug is likely to be less of a blockbuster than Viracept was. But many of the biotechs with approved drugs have market caps in the billion dollar range even if I don't see that big of a market for their drug. Andreas