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

To: Henry Niman who wrote (19806)	4/29/1998 4:19:00 PM
From: Flagrante Delictu	Read Replies (3) \| Respond to of 32384

Henry, Mea culpa, mea maxima culpa. Because of the apparent inconsistency between various estimates of the position of the Farallon group with respect to LGND, I reread the 13SCD. Sure enough, hidden in the very bowels (IYWPTE) of the document on page 29 out of 31 pages was the admission that they were not only long the previously reported amount of the warrants (over 1,930,000), but also were short 389,502 shares of common. They claimed there had been no purchases or sales of either the common or the warrants in the prior 60 days (to 3/27/98). Hopefully, this clarifies their position. Mea culpa, mea maxima culpa is Latin for, "It's my fault. It's my gol' durn awesome fault."