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

To: jayhawk969 who wrote (21361)	5/24/1998 7:29:00 PM
From: Russian Bear	Read Replies (1) \| Respond to of 32384

J.D., That is completely correct, as far as I can tell, except that the forty-odd percent bonus applies six months after an approval within the next two years, not just in the immediate future. SRGN, in the meanwhile, is a perfect proxy for LGND, being pegged at 0.036 LGND, minimum. Why the market is not placing any value at all on the potential $0.23 ONTAK approval bonus, I am at a loss to explain. ONTAK, I have to believe, has a reasonable chance at approval, at minimum. At their closing prices of .52 and 14.4375, respectively, SRGN is grossly undervalued relative to LGND (which is, itself, undervalued, in my opinion.) This curious pricing inefficiency was recently discussed on the SRGN thread: Subject 14387 Have a good holiday, RB