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

To: Henry Niman who wrote (15546)	2/20/1998 6:59:00 PM
From: bluejeans	Read Replies (1) \| Respond to of 32384

Henry, The deadline is the 27 th, but the 20 day window on stock pricing ends 5 trading days before then (in case they do not pick the drug). The filing also talks about if the product is disapproved by the FDA that Lilly can terminate the collaboration (must give up Targretin)and receive more stock. If Ligand picks the drug, Lilly is entitled to certain milestone payments (payable in Ligand stock) if certain objectives are met. P.S. Was the topical a reference to a new product that Ligand will be selling in 99?:)

To: Henry Niman who wrote (15546)	2/20/1998 7:13:00 PM
From: RXGOLF	Respond to of 32384

Henry, if Ligand is going to have a sales force of their own, it would be nice for their sales reps to have several products to push. I do not know how large the market is for CTCL, but from at least one view point a product would be good. If a company does not have a number of products, the Physicians tire of seeing the reps quickly for they know already what they have to say. Obviously, the more true new products you can bring to them, the more likely you are keep their interest and keep their office doors open to your sales team. Probably a minor point, but if you want to build a major drug company, you need drugs. RXGOLF