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

To: Proton who wrote (13845)	1/28/1998 9:23:00 PM
From: John O'Neill	Respond to of 32384

LGND thread brothers, I wanted to make you aware of an interesting, little followed, drama in the Biotech area. A " pick and shovel" type of networking someone suggested earlier. Mycogen is the company that first patented genetic changes to plants. They have about 350 patents in Europe but have been fighting Monsanto for five years over US territory. In the US it's the first to "invent". All other places in the world it's the first to file. If they win this suit, an injuction will probably follow against Monsanto, forcing a settlement. A very interesting option play. Dow and Lilly bought a majority stake then Dow bt out Lilly (Dow Elanco) and own 65%+ percent of stock. Both sides have invested about $20 mil in legal fees thus far. I would expect a 50 % (10 pt) rise in MYCO if they win. See MYCO thread for additional info John O To: Pseudo Biologist (84 ) From: John O'Neill Wednesday, Jan 28 1998 9:07PM EST Reply # of 86 Pseudo Biologist, Update on MYCO. A rumour circulated yeterday that a settlement may be in the works between Monsanto and Mycogen. MYCO was up 2 5/8 in early trading, and closed up 1 3/4 ( probably on the rumour). The case will go to the jury sometime this week. A settlement is probably not possible at this late date. It's interesting that the only open option interest for Mar 20 calls is the 20 calls I bought at 1 5/16.. This is indeed an interesting speculation. The chances are 50/50. It's a civil suit requiring a preponderance of the evidence (51%). Monsanto has the burden of prooof since the patent office has already issued to MYCO. If they win , I expect the stock will jump about 50% that day. If MYCO loses, the speculation is that Dow Chemical will tender for the 30% shares they don't already don't own. This plant genetic engineering for plants is BIG BUCKS. John