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

To: Hippieslayer who wrote (17050)	3/10/1998 9:48:00 AM
From: tonyt	Read Replies (1) \| Respond to of 32384

So if I understand correctly, you never were asking a question about trading activity?

To: Hippieslayer who wrote (17050)	3/10/1998 9:55:00 AM
From: WTDEC	Respond to of 32384

"More so, my question was to try to get a better understanding as to why there might have been an extension--to which we may never find out(unless it's already been posted and I haven't read the post yet)." FUGAZI, I listed what I thought the benefits of the delay were and I think the reason is implied therein. See: Message 3653492 Regards, Walter

To: Hippieslayer who wrote (17050)	3/10/1998 11:18:00 AM
From: Flagrante Delictu	Read Replies (1) \| Respond to of 32384

FUGAZI, Re: Why the extension? My guess is that LLY extended because the compound is too small to interest them & they figure something { from LGND in the form of royalties paid to LLY if the compound is successful } is better than nothing. In that respect, it's somewhat similar to a 3a.m. bar alliance. LGND has always wanted a cancer product to feed to its salesforce to complement LGND's own cancer products that will start to be sold in '99. But, no decision was reached by Feb. 27 because the latest results on the compound were so equivocal that LGND feared taking it without knowing it would pass the FDA, among other concerns. LGND initially thought the compound would be a $50 million one, on which the costs of production would be low and royalties to LLY around 10%. That would have left enough in earnings to guarantee their promise of profits in '99. It looks now like they want to be absolutely certain about the value of the compound. That might include waiting until FDA approval. THis is an opinion only. I don't know for sure, but, it appears plausible. Bernie