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

To: Flagrante Delictu who wrote (17828)	3/24/1998 5:38:00 PM
From: celeryroot.com	Read Replies (1) \| Respond to of 32384

The FDA normally takes 6 - 12 months on NDA. Another theory, is historically bio's run up thru June(starting mid may) and tank July and Aug. Although I must admit someone would be stupid to do. Here is the rest of the puzzle: Mid day 1 transaction of 84 contracts at 1 1/4 Aug 15 puts , the high for the day was 1 1/4 late in day 1 transaction 84 at 11/16 May 15 puts , down 13/16 Late in day 1 transaction 160 at 5/8 Aug puts 12.5 at 5/8, down 5/8 unfortunatly , I missed yesterday so don't know if 160 was there

To: Flagrante Delictu who wrote (17828)	3/24/1998 7:30:00 PM
From: medsunman	Read Replies (3) \| Respond to of 32384

Bernie, I don't know why the H&Q analyst doesn't have LGND a strong buy, however, I noted that H&Q published a report called "The H&Q Road Map for Investing in the Drug Business", and in that report they divide the various biotech companies into several groups - genomic companies, combinatorial chemistry companies, assays & screeninig companies, target-driven drug design companies, product-oriented companies, etc. They put LGND in the assays & screening group along with Agouron, Neurogen, Sugen, Synaptic and Vertex. van den Broek's top pick in this group is Synaptic - which he rates a "buy", not a "strong buy". Other analysts in this report usually pick two or three "top picks" within each segment, van den Broek picks only one, Synaptic, and then doesn't even give it his highest recommendation..It is not possible from the report to detect any negative bias toward LGND, especially in light of the fact that LGND's technology is frequently and favorably cited in the report as an example of the advantages inherent in the use of "assay and screening" technology platforms.