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

To: tuck who wrote (17080)	3/10/1998 2:05:00 PM
From: Russian Bear	Respond to of 32384

Tuck, My reading of yesterday's press release is that they have picked the compound, but do not want to finalize the deal, just yet. Chances are, they are just waiting for FDA approval, in order to minimize their (and our) risk. Regards, RB

To: tuck who wrote (17080)	3/10/1998 2:06:00 PM
From: Henry Niman	Read Replies (2) \| Respond to of 32384

Tuck, While talking to your source, you might recheck on the drug. You originally said a serum drug, which I translated in SERM, which I considered unlikely. However, I now realize that the serum drug may have been a Seragen (SRGN) drug, which is what everyone expects. The drug would be DAB389 IL-2 and is a drug that has to be injected (approval is projected for CTCL), and I suspect that preparation for launch could be expensive and take some time, causing LGND to reevaluate the utility (to be profitable in 1999) of such a compound.