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

To: bluejeans who wrote (15569)	2/21/1998 11:08:00 AM
From: celeryroot.com	Read Replies (1) \| Respond to of 32384

I believe if you go back to the posts around 12/5 we discussed that filing.

To: bluejeans who wrote (15569)	2/21/1998 11:54:00 AM
From: Flagrante Delictu	Respond to of 32384

bluejeans, Thanks for your prompt response. The salient point with regard to Targretin seems to me to be contained in this paragraph that I extracted from Andy's SEC reference, "If, not later than DEC. 15, 1998, the Product {presumably the SRGN compound or whatever other compound LGND might choose} is approved by the FDA AND {highlighted by me } Lilly terminates its collaboration with the Issuer {LGND} concerning the Issuer's product Targretin, the issuer may terminate and relinquish its interest in the Product and thereafter Lilly shall purchase$5,000,00 of Common Stock" etc. I believe that the "if" also refers to " Lilly terminates its collaboration with the Issuer concerning the Issuer's product Targretin". My interpretation is that if the chosen compound is disapproved by the FDA and if Lilly terminates its collaboration with LGND concerning Targretin, with both happening not later than Dec.15,1998, then Lilly will buy $5,000,000 of LGND stock to compensate LGND for its troubles with the chosen compound & for Lilly's subsequent disinterest in Targretin. If such disinterest occurs, it will most likely result from Lilly's greater interest in one or more of LGND's second or third generation diabetes compounds, IMHO. Lilly's possible disinterest in Targretin would not break the deal with LGND for the other compounds LGND included in the deal. Bernie.