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

To: Henry Niman who wrote (22389)	6/17/1998 4:20:00 PM
From: dwc	Read Replies (3) \| Respond to of 32384

Henry: When the paper finally come out in Science, do you think it will be too "scientific" for the media to pick up on the commercial potential of this discovery? Without the help of yourself and other "science guys" on this site, I certainly would have a tough time deciphering the meaning and possible consequences of the abstract.

To: Henry Niman who wrote (22389)	6/17/1998 4:23:00 PM
From: dwight martin	Read Replies (2) \| Respond to of 32384

with trials halted because the data was too strong to continue giving the placebo Henry, did I miss another such study halt? I was aware only of the halt in the ONTAK study. TIA

To: Henry Niman who wrote (22389)	6/17/1998 8:21:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 32384

>> Eventually the street will recognize LGND's potential << An objective statement? At 3/31, shareholder's equity was $23 million. There were 38.6 million shares out. That figure would give us a market cap of $521 million at today's close, or a market cap:equity of 22.7. Henry.... what will the shareholder's equity be in the 6/30 figures? How many shares, fully-diluted, are outstanding? What would the market cap, fully-diluted, be at today's closing price? What will the approximate ratio of market cap to equity be, using these figures? Can you name some comparable ratios for other biotechs which do not have approved products? Hint..... the non-dilute ratio for EntreMed is about 8.1. For biotech's "sore thumb" with Rathman, Gates and a PDE5 inhibitor, Icos, it's about 17.8. What sort of recognition would you like the street to give LGND? Perhaps you have irrational expectations. >> What's most remarkable about the RS report is the comments on it by those who have never read it << Chuckle. Sure hope you're not talking about me, Henry. As you will remember, I was the second major LGND proponent in m.i.s for all of '95. I owned both LGND and GLYC, remember? I was the individual that reported on the 5/8/95 seminar by Heyman and Gill at UCSD. Remember when you took notice of my disclosing the headaches? I also covered the 5/17/95 annual meeting, at which Robinson's closing line was that burn going forward would be about $25 million/year, that cash would be sufficient to get to commercialization without further dilution. I sold over two years ago at $17. You didn't. You introduced my name into the thread and indicated that I had complained about dilution for a number of years. I responded. I have no desire to participate further here. Too much spin.