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

To: John O'Neill who wrote (19458)4/23/1998 6:19:00 AM
From: Henry Niman  Respond to of 32384
 
JO, LGND's price run up last fall was in anticipation of the mega-deal ($199 million+) with LLY.



To: John O'Neill who wrote (19458)4/23/1998 6:33:00 AM
From: Henry Niman  Respond to of 32384
 
JO, LGND ran up to its 52 week high of 18 3/8 last fall in anticipation of the LLY deal (it was a classic buy on rumor, sell on news situation). LGND's all time high of 19 3/4 was in the spring of 1996 just after they announced the publication of the leptin promoter sequence and CEO Robinson discussed the news in a CNBC interview.



To: John O'Neill who wrote (19458)4/23/1998 9:55:00 AM
From: Scott H. Davis  Respond to of 32384
 
John, was not following LGND then, but it may be a part of what was happening in the market and the biotech sector at that time. Market was flying, Asian thing hit, market droped, and again after a scare, there was a "flight to quality" and biotechs don't do to well in a value orriented market. Look at the charts for ISIP, VICL, LGND and BTGC & TRIBY (the biotechs I'm now following). Hope this helps. Scott


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