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

To: Henry Niman who wrote (12325)	12/8/1997 9:46:00 PM
From: Andrew H	Respond to of 32384

I hope this is not the drug LGND will choose, although it certainly seems to fit. As the CEO says, the market is pretty small (almost miniscule-- If I remember correctly, 1,500 new cases a year) and the indication is only for those cases which have persisted despite other therapy. We have no information about what other indications LLY controls, but it doesn't sound like any. >>Of course if approval is iffy, LGND can take more cash from LLY and get a bigger royalty on the rexinoid of their choice.<< Yeah, they can take the cash but it will be another dilution in the stock--at least 1m shares. As for the lareger royalty, that's a long ways in the future and certainly won't help profitability in 1999.