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

To: Glass House who wrote (14867)	2/12/1998 2:22:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Thanks for the support. Today was a better day than most. H&Q likes the data also: Ligand rises on positive data Thursday, February 12, 1998 12:59 PM > LOS ANGELES, Feb 12 (Reuters) - Shares of Ligand Pharmaceuticals Inc rose in active volume Thursday after the release earlier in the week of positive data on two of the company's leading drug candidates, analysts said. They said they are particularly encouraged by a study showing Ligand's Targretin drug for cancer was more effective than the leading breast cancer drug on the market, in tests on rats. Shares of Ligand were up 1-1/4 to 14-5/8. Ligand has Targretin in advanced clinical trials for cutaneous t-cell lymphoma, a rare form of cancer, and is also testing it in lung, ovarian, and head and neck cancer. Van den Broek said the lymphoma indication for which Targretin was most likely to win initial Food and Drug Administration approval was a rare form of cancer, but positive data in other more common types of cancers might lead to more off-label uses. But some analysts questioned the usefulness of rat data. LOS ANGELES, Feb 12 (Reuters) - Shares of Ligand Pharmaceuticals Inc rose in active volume Thursday after the release earlier in the week of positive data on two of the company's leading drug candidates, analysts said. They said they are particularly encouraged by a study showing Ligand's Targretin drug for cancer was more effective than the leading breast cancer drug on the market, in tests on rats. Shares of Ligand were up 1-1/4 to 14-5/8 in exchange trading. "Even though it was only animal data, people gave greater significance to the news because Targretin is already in advanced clinical trials in humans," said Hambrecht & Quist analyst Richard van den Broek. "If you have a drug like Targretin that is extremely safe and shows some signs of efficacy, it is not a leap to assume oncologists will start weaving it into their experimental protocols," he said.

To: Glass House who wrote (14867)	2/12/1998 2:23:00 PM
From: tonyt	Respond to of 32384

I guess you sold today also.

To: Glass House who wrote (14867)	2/12/1998 2:36:00 PM
From: Henry Niman	Respond to of 32384

H&Q and Lehman Brothers like the news: Dow Jones Newswires -- February 12, 1998 Ligand -2: Analysts Optimistic About 1998 Prospects Dow Jones Newswires NEW YORK -- Ligand Pharmaceuticals Inc.'s (LGND) class B shares of were on the rise again after the company released its third piece of positive news in two weeks. The Nasdaq-listed stock was recently trading at 14 9/16, up 1 3/16, or 8.9%, on volume of 1.5 million shares, compared with a daily average of 271,500. The latest boost came after the company announced Wednesday that a study found its Targretin product caused a complete regression in 72% of breast cancer tumors in rats. On Monday, the company said it plans to complete a 1999 new drug application with the Food and Drug Administration for Panretin capsules in patients with AIDS-related Kaposi's sarcoma, one of three applications it plans to file in 1998 or early 1999. And last week, Ligand posted a fourth-quarter loss of 9 cents a share, excluding a charge, compared with a 38-cent loss a year earlier and a First Call Inc. view of a 34-cent loss. The company said it expects to become profitable in 1999. Wednesday's announcement said previous animal research found Targretin was as effective as Tamoxifen, currently the most widely prescribed breast cancer therapy. Zeneca Group PLC (ZEN) markets Tamoxifen under the trade name Nolvadex. "Animal data is usually not such a big deal," said Hambrecht & Quist Inc. analyst Richard van den Broek. "But this model is pretty good one, and it's a valid comparison with Tamoxifen." Systemic use of Tamoxifen resulted in complete regression in 33.3% of tumors compared with Targretin's 72% rate. The study also found animals that received low doses of both drugs showed Tamoxifen's efficacy was "enhanced substantially" when given in combination with Targretin. And advanced studies in other indications have found Targretin is not only effective also but safe, van den Broek said. "Its safety profile is unique," he said. "This drug has very little toxicity." Ligand said it is reevaluating its Phase II clinical trial options with Targretin in breast cancer. The company is conducting three pivotal trials for the treatment of cutaneous T-cell lymphoma in humans, including one with Targretin gel and two with Targretin capsules. It is also in advanced trials involving patients with lung cancer, ovarian cancer and head and neck cancer. While van den Broek and Lehman Brothers Inc. analyst C. Anthony Butler say it is hard to tell exactly how these trials will progress, both express optimism about the company's prospects in 1998. "I think Ligand has been able to achieve historically, and likely will continue to achieve, all their stated milestones," Butler said. "You have to give senior management credit for milestone achievement." He cited an alliance with Eli Lilly & Co. (LLY) to develop products based on Ligand's intracellular receptor technology for treatment of diabetes-related problems as one of the goals met in 1997. The joint venture was reported Nov. 26. Ligand Chief Financial Officer Paul Maier said it is company policy to decline comment on information not already mentioned in press releases. American depositary receipts of Zeneca Group were recently up 1/2, or 0.4%, at 124. -By Charlene Oldham; 201-938-5173

To: Glass House who wrote (14867)	2/12/1998 2:45:00 PM
From: Henry Niman	Respond to of 32384

More from Reuter's: Ligand rises on positive data LOS ANGELES, Feb 12 (Reuters) - Shares of Ligand Pharmaceuticals Inc rose in active volume Thursday after the release earlier in the week of positive data on two of the company's leading drug candidates, analysts said. They said they are particularly encouraged by a study showing Ligand's Targretin drug for cancer was more effective than the leading breast cancer drug on the market, in tests on rats. Shares of Ligand were up 1-1/4 to 14-5/8 in exchange trading. MORE Rtr 12:46 02-12-98

To: Glass House who wrote (14867)	2/12/1998 2:48:00 PM
From: Henry Niman	Respond to of 32384

Here's one more version from Reuter's: Ligand rises on positive data LOS ANGELES, Feb 12 (Reuters) - Shares of Ligand Pharmaceuticals Inc rose in active volume Thursday after the release earlier in the week of positive data on two of the company's leading drug candidates, analysts said. They said they are particularly encouraged by a study showing Ligand's Targretin drug for cancer was more effective than the leading breast cancer drug on the market, in tests on rats. Shares of Ligand were up 1-1/4 to 14-5/8 in exchange trading. "Even though it was only animal data, people gave greater significance to the news because Targretin is already in advanced clinical trials in humans," said Hambrecht & Quist analyst Richard van den Broek. "If you have a drug like Targretin that is extremely safe and shows some signs of efficacy, it is not a leap to assume oncologists will start weaving it into their experimental protocols," he said. Ligand has Targretin in advanced clinical trials for cutaneous T-cell lymphoma, a rare form of cancer, and is also testing it in lung, ovarian, and head and neck cancer. Van den Broek said the lymphoma indication for which Targretin is most likely to win initial Food and Drug Administration approval is a rare form of cancer, but positive data in other more common types of cancers might lead to more off-label uses. But some analysts questioned the usefulness of rat data. "It always amazes me that people can get excited about rat data since it is not really predictive of how a drug will work in humans," said Americal Securities analyst Charles Engelberg. San Diego-based Ligand also released positive data earlier this week showing its Panretin drug candidate produced strong response rates in Kaposi's sarcoma, a form of skin cancer that strikes AIDS patients. 380-2014, fax (213) 622-0056)) MORE Rtr 12:59 02-12-98