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

To: Machaon who wrote (18905)	4/8/1998 10:09:00 PM
From: John O'Neill	Respond to of 32384

Regarding MCDE, I would suggest contacting Mat Hogan at the company. His secretary is Florie..they will send you recent analyst report with packet if you request it. I think this stock presents a unique opportunity. The price is low due to a distribution of stock (about 2 mil shares) to the original venture capitalists (I think Stanford University was one). This created a gigantic over supply of stock (10 mil outstanding). The stock is expected to meet expenses on it's cash flow for the next 5 years. It has about $3.50 cash/share which it can preserve. It is in, what I think too be, the "hottest" area of biotechs. The is a high correlation between animal and human results and clinical trials are short. I would expect for it to return to the $10-$13 2 yr trading range until they have news. (They have three large drug co partnerships.) JO