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

To: Harold Engstrom who wrote (22381)	6/17/1998 2:38:00 PM
From: Henry Niman	Read Replies (2) \| Respond to of 32384

Actually, I think that the shorter term projections are of more value and address some of the points that several have brought up concerning dilution, focus, and progress. When the price slides, there are more complainers, but I think that the board has lost its long term perspective. LGND has been making excellent progress in all areas, but the street and this board actually has a tendency to overlook the progress. The same analyst that predicted $14.55 in 2006 also predicted a major loss next year (when he did the year 10 year analysis in late 1996). The report gave a year by year, product by product analysis, and it is still the most extensive report that I have seen on LGND. At this point, the numbers projected for next year seem EXTREMELY bearish. That is due in large part to LGND's progress in the interim. Many of the products that were not even listed in the projections for 2006 are slated to enter the clinic in the next 12-15 months, The diabetes contribution was small and metabolic disease contribution was tiny (and did not come into the picture until the 9th or 10th year). LGND has a huge pipeline that is being developed remarkably quickly. They also have a research program that is at the top of the field and they claim that their androgen program (which the own completely) is the largest in the world, including the big pharmas. As far as $14 per share is concerned, we'll have to wait to see if it is or is not nonsense. I didn't write the report (I thought it was conservative), but it provides a nice balance to much of the nonsense that is posted here. At least the report has a name and phone number and the author exists. Much of what is posted here is done by virtual people who post under who knows how many handles.