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

To: Sheriff who wrote (12284)	12/8/1997 5:23:00 PM
From: Andrew H	Respond to of 32384

Actually, its been expected for a while--part of the equity investment LLY made in LGND (at a nice premium to the market price) as part of the big diabetes+ deal. I believe it adds another 37.5M to the LGND coffers. LGND now has plenty of cash to pursue development of their cancer and skin drug programs while LLY and other large pharms fund their metabolic and other programs. A desirable position for a developing stage bios. I hope we will see initiation of P3 psoriasis trials before too long.