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

To: CYBERKEN who wrote (12340)	12/9/1997 1:30:00 AM
From: Andrew H	Read Replies (2) \| Respond to of 32384

>>Any way you slice it, there's some overhang to absorb. What do you think he will do?<< Who knows? Maybe they will decide its a good investment and just hang on to it, slowly selling shares as the price rises.

To: CYBERKEN who wrote (12340)	12/9/1997 6:41:00 AM
From: Henry Niman	Respond to of 32384

CYBERKEN, I agree that if my analysis is correct, it does create a 1.7 million overhang in LGND in Farallon puts up the $12 million to convert LGNDW into LGND. I think that LGNDW volume makes it hard to just unload LGNDW, and I agree that its a great long term investment, so maybe the MMs are lining the deal up with someone who knows something about LGND.

To: CYBERKEN who wrote (12340)	12/9/1997 8:37:00 AM
From: tonyt	Read Replies (1) \| Respond to of 32384

> What do you think he will do? The possibility that you mentioned as the most desirable: 'find some large investors to take them off his hands in the short run.', is the most likely outcome. Why are they selling anyway? What do they know that we don't? The consensus on this thread is that LGND is at its low, and in any event won't go lower that $12.5 while the short term (two months?) high is projected above $18. The long term (+12 mo) seems to be projected here at avove 35. So, why would they sell any LGND. What do they know that this thread doesn't?