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

To: smh who wrote (22041)	6/10/1998 2:55:00 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 32384

smh: Every three months or so we go over the same issue. I don't think that Robinson did anything wrong. I just didn't want to be the one that was going to foot the bill. How do you do things differently? You work like Peter Johnson did at Agouron...... you keep shares to a minimum while you're working on a competitive project that addresses a hot indication (large market). You can also leverage a business plan, working with partners on some hot stuff and keeping a beeline project of your own, without the necessity of growing too large. This is not shocking new info, folks.... Robinson has been shareholder-unfriendly. That is generally recognized. >> are you waiting more for Robinson to change priorities or for the market to recognize LGND's value << Neither, actually. Robinson's course is set. LGND will either be quite successful or end up rather BTGC-like, spread out over a bunch of piddly stuff. With respect to recognizing LGND's intrinsic value...... IMO, there are many biotechs where the intrinsic value is more deeply discounted. Yesterday morning, you could have purchased KDUS, including the equity stake in Axiom, for a research premium of $10 million. Another example..... I am currently accumulating shares of a company that sells at a research premium of $8 million with a market cap of approximately $30 million. They have, in my opinion, a very competitive project in phase II testing that addresses multiple indications and markets of $2 billion, easy. That's in addition to an innovative, respected research program that is well supported by a partner. LGND? I am waiting for convincing data, with a competitive project, that addresses a good-sized market. Rick