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

To: Henry Niman who wrote (22232)	6/14/1998 7:53:00 PM
From: Wallace Rivers	Read Replies (2) \| Respond to of 32384

As my request for a name change for this thread seems to have been more or less ignored, I would like to put this proposal in front of this thread for a vote: The name of this thread be changed from its current title to simply "Ligand Pharmaceuticals - (LGND)" for the following reasons: A) The current thread title (with "Breakout!" at the conclusion) IMHO lends an air of hype and promotion which is unnecessary and undesirable. IMHO it does not encourage serious discussion (either pro or con) of LGND's investment prospects. B) The thread title is almost two years old, and has little relevance given the stock's current state. C) I've disliked the title and its implications long before I was an investor in the stock. Those desiring to vote can reply to me, and I will keep a tally, which I will then present to the thread originator. I thought about private votes to keep the thread from being more cluttered, but I thought it would be best if votes were shown publicly. Voting will end at the close of trading (4 pm EDT) this Friday. I will repost this a few times throughout the week. Those for this proposal please reply to me with "FOR" Those against the proposal please reply to me with "AGAINST" Thanks everyone, it may seem trivial, but I just feel the current title sends the wrong message. Wallace

To: Henry Niman who wrote (22232)	6/14/1998 8:15:00 PM
From: Hippieslayer	Read Replies (2) \| Respond to of 32384

Just heard a report on the radio that a study of those who were on leptin to reduce weight didn't respond all that well. A few lost as much as 35 pounds over, i think, 6 months (weeks)???? when given leptin shots every day, but many didn't lose weight or some even gained weight. Study was presented at some diabetes conference. Where? I don't know. And they didn't mention what companies put on the study, either.

To: Henry Niman who wrote (22232)	6/14/1998 9:24:00 PM
From: WTDEC	Read Replies (1) \| Respond to of 32384

Henry, I believe there are objective approaches to help compare the dilution of one biotech to another. For example, before recently taking on a new business venture which has stopped my progress cold, I had started to build a valuation model based on drugs in the pipeline. Simply dividing the 'technology value' (market cap of equity less cash) by the number of drugs in the clinic yields the market value per drug, a very crude step in the right direction. We know well that some drugs are more advanced, P3, than others, P1, and some have bigger market potential than others. I was working on a simple weighting scheme to give 'rough justice' to these differences when my work stopped. (I'll spare the thread from further refinements I had in mind.) On the crude basis, I find the markets valuation of LGND on a per drug basis is now about half that of several reasonably comparable biotechs. Looks like a bargain basement price right now. Maybe I will get the chance to pick up on this approach at some point. In the meantime, perhaps others will do so and share their findings with the thread. Regards, Walter