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

To: Machaon who wrote (14898)	2/12/1998 4:35:00 PM
From: Andrew H	Respond to of 32384

>>The Tamoxifen rat test was performed in Dec, 1996. It eventually led to a commercial product. Targretin's 72% tumor regression rate is outstanding. << What are we talking about here? I'm sure the tamoxifen experiments with rats were done a lot further back than 1996--yes, there were Ligand tests tests done with rats re Targeretin and Tamoxifen at that time, but they had nothing to do with a commercialized product. >>Perhaps this "rat" controversy is what is keeping LGND from exploding upwards, at this time. I wonder why so many rats are used in testing, if the results are so suspect!?<< Well, rodents are used because results are quick, cheap, easy to procure and reproduce, and they are after all mammals. Also the animals rights activists don't seem to care much about them. Listen, I think the results are encouraging and exciting. All I am saying is that rats are not people (except for a couple you have posted to on this board--lol). >>Everytime LGND publishes another success story, it makes me feel a little more secure about my investment in LGND. It reinforces my confidence in their science. << Yes, I agree that LGND will be a huge long term winner (and our murine poster friends huge long term losers--lol)

To: Machaon who wrote (14898)	2/12/1998 4:37:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Here's another version from Dow Jones: Dow Jones Newswires -- February 12, 1998 Ligand Up 9% After Positive News On Targretin Trial NEW YORK (Dow Jones)--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