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

To: John O'Neill who wrote (18463)	4/2/1998 7:48:00 AM
From: Henry Niman	Respond to of 32384

JO, Don't worry about me shorting LGND. This week's Forbes has an interesting article on valuing Biotechs: forbes.com One is based on deals (LGND isn't in the table, but would be fairly high in the table), and the other is based on patent applications. HGSI is mentioned (with 127 patent applications and a market cap of about $650 million). LGND's cap is lower although they have over 400 patents that have been applied for (included are 200 issued patents which I suspect would crush HGSI's number - or just about any Biotech's). INCY is also mentioned, with 49 patent applications.