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

To: Mudcat who wrote (20212)	5/8/1998 3:03:00 AM
From: Henry Niman	Respond to of 32384

Mudcat, Since LGND indicated that the NDA would be filed by the end of this month or sooner, I suspect that they would file as soon as the NDA was ready and not wait for the shareholders meeting. The would get the most mileage from the big boys, and LGND tends to go to them.

To: Mudcat who wrote (20212)	5/8/1998 9:38:00 AM
From: Henry Niman	Respond to of 32384

Buyers are out early this morning, moving the ask to 14 3/16 fairly quickly. Looks like some don't want to be on sidelines for the weekend.

To: Mudcat who wrote (20212)	5/8/1998 10:48:00 AM
From: tonyt	Respond to of 32384

short line ;-)

To: Mudcat who wrote (20212)	5/8/1998 11:17:00 AM
From: Henry Niman	Respond to of 32384

Actually, the line is fairly long as volume tops 150K in less than 2 hours. There were some larger blocks and the size of the average trade is above 1000. With all of the cancer news in the popular press, I suspect that many investors don't want to be sitting out over the weekend. In a week ASCO begins and it should be swarming with reporters. Some will go after early stories, so more news could come out over the weekend. Bear Stearns lists LGND as one of the cancer Biotechs with more advanced products and an NDA filing soon would be well timed. After the initial frenzy caused by the NY Times article last Sunday, the more mature news reports will begin focusing on combination treatments which are generally off-label uses (although some combos are put into clinical trials, there are too many combinations for exhaustive trials). The street is beginning to catch on, and a few initiations of coverage (which I expect very soon), could go a long way.