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

To: Flagrante Delictu who wrote (21357)	5/24/1998 4:24:00 AM
From: CYBERKEN	Read Replies (1) \| Respond to of 32384

Nice post, Bernie. What's your opinion of SRGN as an investment?

To: Flagrante Delictu who wrote (21357)	5/24/1998 11:11:00 PM
From: WTDEC	Respond to of 32384

Bernie, great post on SRGN deal. I agree with almost everything you said. I was leary of the deal at first, but I now think Robinson's brilliance as a deal guy is starting to show through. We will have to wait and see what the "Subsequent Agreement" dated 5/11/08 between LLY and LGND says, but I have revised my thinking a bit thanks to further work prompted by Andreas and Celeryroot. I now believe LGND will only have the option to sell $20M in stock if ONTAK is not approved. (See my posts today to Andreas.) In any event, I think LGND holds a strong hand here. While I do agree with your view that the deal was most likely done early to allow LGND to build a discount in for taking the risk of the 6/2 panel meeting, the timing just prior to the ASCO meeting got me thinking. It seems to me (and I really need HN's help here) that the SRGN technology is quite similar to some of those who presented good results at the ASCO meeting. Maybe LGND wanted to get it done before that became apparent. For example. ONXX delivers a virus to the cancer cells and it kills them. SRGN delivers diptheria to the cancer cells to kill them, if my understanding is correct. In any case, this week is 'LGND week'. Trading will be halted until Tuesday! Regards, Walter