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

To: Alper H.YUKSEL who wrote (16140)	3/1/1998 8:52:00 AM
From: Russian Bear	Respond to of 32384

Agreed, Alper. But it is nice to see that things are progressing according to plan. RB

To: Alper H.YUKSEL who wrote (16140)	3/1/1998 12:00:00 PM
From: Henry Niman	Respond to of 32384

Alper, I think that today's press release is actually the beginning of "March Madness" again. If you recall, last year I predicted that there would be three major announcements in March, 1997. Two of the three materialized (Nature paper on Diabetes and the European launch of the Phase II Type II Diabetes trial). LGND's price was heading south and the Nature paper produced a very temporary blimp as LGND's price slid to 9 1/8. Today's picture is quite different. There has been quite a bit of good news and LGND's price more than double in 6 month. After a brief retreat, the price is once again heading North. Today's press release promises an NDA this month. I expect the month to be very "news rich" as clinical advance, partners prepare for new filings, and LGND continues to mature.

To: Alper H.YUKSEL who wrote (16140)	3/2/1998 5:40:00 AM
From: Henry Niman	Respond to of 32384

Here's what Dow Jones said about yesterday's news: Ligand Pharma Expands Panretin Gel Phase I/II Data ORLANDO, Fla. (Dow Jones)--Ligand Pharmaceuticals Inc. (LGND) said the final analysis of phase I/II data for topical retinoid Panretin Gel for AIDS-related Kaposi's sarcoma confirms a greater response rate in Panretin-treated KS lesions versus untreated lesions. In press release Sunday, Ligand said these studies will be used to support its new drug application filing for Panretin Gel in AIDS-related KS in March. This analysis reflects data collected from 115 AIDS patients with biopsy confirmed KS at nine centers in the U.S. Responses were defined using the AIDS Clinical Trial Group criteria as applied to topical therapy. Two pivotal Phase III trials of Panretin Gel for topical treatment of KS have been completed to support an NDA filing later this quarter. Unlike the Phase I/II trial, which was an intra-patient controlled study, both of the Phase III studies were double-blind, parallel group, placebo controlled studies. These trials showed response rates of 42 and 35% respectively at 12 to 16 week assessments, and up to 49% response with continued open label treatment beyond 12 to 16 weeks.