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

To: celeryroot.com who wrote (15981)	2/27/1998 10:02:00 AM
From: Henry Niman	Respond to of 32384

Volume's up to 50K and ask is up to 15 1/8.

To: celeryroot.com who wrote (15981)	2/27/1998 10:09:00 AM
From: Henry Niman	Respond to of 32384

Today is the deadline for the LLY decision. I really don't know which way it will go. LGND can take another $20 million in cash as well as another 1 1/2% royalty on the Rexinoid of their choice, or they can take a drug (which I strongly suspect is SRGN's IL-2 fusion protein for treating CTCL). The approval of the SRGN product is not guaranteed and it has stronger side effects than LGND's products. However, marketing of this compound would potentially put LGND in a most unique position. Next year they could have three FDA approved compounds for treating the CTCL (IL-2 DAB, topical Targretin, and oral Targretin). The most recent Dow Jones press release on LGND calls them a Drug Company (CYTL is called a Biotech). Maybe the street will wake up and start moving LGND's market cap into the "Drug Company" category. Their pipeline can certainly give most big pharmas a run for their money, especially after 7 more compounds enter the clinic this year.