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


To: Robert L. Ray who wrote (22834)6/29/1998 2:10:00 PM
From: Henry Niman  Respond to of 32384
 
The abstracts are for oral presentations in Geneva at the International AIDS meeting.



To: Robert L. Ray who wrote (22834)6/29/1998 2:15:00 PM
From: Henry Niman  Read Replies (2) | Respond to of 32384
 
Panretin gel is for KS and the incidence is decline with the widespread use of PIs. However, the decline may be temporary as the number of patients failing PI's continues to increase as does the prevalence of resistant viruses.
Panretin topical's target population (KS) is somewhat larger than Targretin topical (CTCL), but off label use is expected for both topical formulations as well as the oral formulas.

Targretin has shown efficacy for breast cancer and metabolic diseases in animal models and the number of clinical indications is also higher for Targretin than Panretin.



To: Robert L. Ray who wrote (22834)6/30/1998 8:49:00 AM
From: Henry Niman  Respond to of 32384
 
Speaking of presentations, looks like LGND is going after some retail investors also:

The Nation's Premier One Day Money Show Comes to San Diego in August

SAN DIEGO (June 29) BUSINESS WIRE -June 29, 1998--

WHEN: SATURDAY, AUGUST 22, 1998

WHERE: SAN DIEGO CONCOURSE, 202 C STREET

The demand for investment information continues to be foremost in everyone's mind.

It affects all of us everyday and it's why thousands of individual investors will be flocking to
Financial Fest '98, Saturday, Aug. 22 at the San Diego Concourse. This first annual event
is open to the public and absolutely free.

Investors have been seeking information on radio, TV, the Internet, investment clubs,
seminars. As the Financial Markets become more volatile, and global markets intertwine to
affect the average individual's portfolio, investors need good advice and Financial Fest offers
a chance to get that advice in a convenient and no pressure format.

Financial Fest '98 is the most successful one day forum in the country for the individual
investor. It's held in various cities in the West and because of numerous inquiries has come
to San Diego.

The event will incorporate 27 different hour-long seminars; 8 hours of live radio broadcasts
featuring KSDO radio morning show host George Chamberlin and 60 exhibitors. In fact,
KSDO in San Diego will broadcast live on Saturday doing interviews with exhibitors and
attendees.

Those attending Financial Fest '98 will get answers to crucial financial questions and
concerns. The Financial Fest creates a common place for those attending to receive a
maximum amount of financial and investment information.

One can visit several investment product and service related exhibitors and listen to
in-depth seminars. Investors will be able to talk one on one with financial experts and
investment relation's specialists.

Financial Fest President Ron Cohen said, "We're thrilled to be coming to San Diego, our
previous Financial Fests have proven extremely popular and helpful for attendees. As for
this show, it should be the largest event of this type done in San Diego."

Cohen went on, "We feel it's our obligation to provide fair and honest information, and make
it easily accessible. I know how confusing the maze of investment options can be. We're
excited about the chance to help everyone sort through it."

Among the exhibitors, you'll find a well-rounded selection of investment opportunities.
Included will be Cardima Inc., Ligand Pharmaceuticals, and Laser Power Corp. and Royale
Energy from the list of publicly traded companies.

As for mutual funds, look for Invesco, Scudder, Adams Express and Needham. Brokerage
firms represented include Waterhouse, Jack White, and Torrey Pines Securities. Vital
information will be provided by The Nasdaq Stock Market and The Options Industry Council.

Financial Fest '98 is presently exclusively by radio station KSDO as a public service. The
station has long offered a unique blend of business and financial news, talk and sports.

Business Wire, the global leader in corporate news dissemination, has been named official
wire service for Financial Fest. Business Wire will issue news to the investment community
and post related information on a special Web page for the show via the Business Wire
Trade Show and Conference News site (http://www.businesswire.com/tradeshow).

kjs/ix*

CONTACT: Financial Fest, Phoenix
Mike Loebel, 602/241-1510 or 800/293-5366

KEYWORD: ARIZONA CALIFORNIA

INDUSTRY KEYWORD: BANKING ADVISORY TRADESHOW Today's News On The Net
- Business Wire's full file on the Internet

with Hyperlinks to your home page.
URL: businesswire.com



To: Robert L. Ray who wrote (22834)6/30/1998 9:03:00 AM
From: Henry Niman  Respond to of 32384
 
LGND is issuing a press release this morning on Panretin topical for KS (based on upcoming presentations at International AIDS meeting).



To: Robert L. Ray who wrote (22834)6/30/1998 9:11:00 AM
From: Henry Niman  Read Replies (1) | Respond to of 32384
 
They are also issuing a press release on Panretin oral.



To: Robert L. Ray who wrote (22834)6/30/1998 9:38:00 AM
From: Henry Niman  Respond to of 32384
 
Here's the press release on Panretin oral:
Anti-Tumor Activity of Ligand's Panretin Capsules
Demonstrated in Studies Presented At 12th International
Aids Conference

Business Wire - June 30, 1998 09:24

%LIGAND-PHARMACEUTICALS LGND %NEW-YORK %PHARMACEUTICAL %BIOTECHNOLOGY V%BW
P%BW

GENEVA, Switzerland--(BW HealthWire)--June 30, 1998--

Drug Effect Observed Regardless of Immune System Status, Antiretroviral Therapy & Prior Treatment

Two separate scientific presentations at the 12th International AIDS Conference in Geneva reported
that Ligand (LYE-gand) Pharmaceuticals Incorporated's Panretin capsules (alitretinoin) act as an
anti-tumor agent in the treatment of AIDS-related Kaposi's sarcoma (KS). Researchers observed a
response rate of nearly 40 percent among patients receiving the drug. The studies' conclusions also
suggest that patient responses to Panretin capsules occurred independent of baseline CD4+ counts,
concurrent antiretroviral therapy and prior treatment for AIDS-related KS.

These data, some of which have been presented previously at the National Cancer Institute (NCI)
Second National AIDS Malignancy Conference and at the annual meeting of the American Society of
Clinical Oncology, support a growing body of clinical evidence suggesting that Panretin capsules may
have an important role in the management of AIDS-related KS.

"Ligand's clinical program for Panretin for the treatment of KS continues to advance on track," said
David E. Robinson, Ligand Chairman, President and CEO. "Should we continue to see promising
response rates, and assuming continuing supportive trial results, we target filing a New Drug
Application (NDA) with the U.S. Food & Drug Administration for Panretin capsules in 1999."

The Company's first NDA, submitted for Panretin gel (alitretinoin) 0.1% for the topical treatment of
AIDS-related KS, was submitted in May 1998.

Final Results Indicate 39 Percent Response Rate

Final results of a Phase II, multicenter, open-label trial, presented today by James T. Thommes, M.D.,
principle investigator and Medical Director, Pacific Oaks Research in Los Angeles, indicate a 39
percent (22 of 57 patients) overall response rate based on an intent-to-treat analysis and a 62 percent
(21 of 34 patients) response for all protocol-defined evaluable patients. Fifty-seven male patients with
biopsy-proven KS at five study sites were enrolled in the investigation. They received orally
administered Panretin capsules daily in doses ranging from 60 mg/m2/day to 140 mg/m2/day. The
median duration of treatment was 15 weeks. For the 22 responders, two patients relapsed and 20
were still responding as of the database cut-off for the study.

The median baseline CD4+ count among all patients was 219 cells/mm3. Eighty-nine percent of
patients were taking three or more antiretroviral agents (ARV), with 94 percent of these receiving a
protease inhibitor. Side effects for Panretin capsule-treated patients were generally noted as mild to
moderate by study investigators and included headache, hypertriglyeridemia, dry skin and rash.

"What we found most encouraging in the continued analysis of these data is that Panretin capsules
appear to have a significant effect in patients whose AIDS-related KS persists, regardless of their
treatment with advanced antiretroviral therapy," said Dr. Thommes. "The drug also had positive results
among patients who had undergone prior anti-KS chemotherapy and patients for whom chemotherapy
had previously failed."

Fifty-six percent (32 of 57) of patients in the study had received prior chemotherapy for KS.
Response to Panretin capsules was seen in five of seven patients who were refractory to prior
chemotherapy for KS.

"It's important to remember that Panretin is an endogenous retinoid hormone, not a cytotoxic drug,
which distinguishes Panretin capsules from other commonly prescribed KS therapies," said Richard C.
Yocum, M.D., Ligand Senior Medical Director, Clinical Research. "Many currently used cytotoxic
agents have significant side effects and must be administered to patients by injection or through
intravenous infusion. Our research demonstrates that Panretin capsules may provide patients with an
effective way to control the disease in an easily administered oral form, a route of administration not
currently available to these patients."

Panretin's Effectiveness in Refractory Patients Demonstrated in AMC Study

A second Phase II study conducted under the sponsorship of the National Cancer Institute's AIDS
Malignancy Consortium (AMC) showed that treatment with Panretin capsules resulted in a significant
number of clinical responses in patients with extensive disease, low baseline CD4+ counts and prior
treatment with systemic chemotherapy. An overall response rate of 37 percent was seen in this study
of 66 patients.

"The need for oral KS therapy has been well established," said Alvin Friedman-Kien, M.D., clinical
investigator, New York University Ronald O. Perelman Department of Dermatology. "Although
additional investigations are expected, Panretin capsules have shown significant response rates in a
range of patients with KS. We are very encouraged by the drug's strong anti-tumor effect in patients
whose AIDS-related KS did not respond to the concurrent use of three- and four-drug antiretroviral
therapies. Panretin capsules also appear to cause a regression of disease in patients with whom who
we have exhausted all other therapies, even aggressive cytotoxic regimes."

Seventy-one percent of patients had received prior therapy for KS, including 29 patients who had
experienced local treatment and 45 who had undergone systemic chemotherapy or immunotherapy.
Side effects of Panretin capsules included headache, elevated triglycerides and alopecia.

Participants in the AMC study, as in the Ligand study, received Panretin capsules (alitretinoin)
administered once daily at doses increasing from 60 mg/m2/day to 140 mg/m2/day. Study participants
had to have biopsy-proven KS associated with AIDS, and at least five or six skin lesions that were
assessed as indicator lesions every two weeks for response. The protocol-defined evaluation period
was 16 weeks. Response rates for both trials of Panretin capsules were determined by applying the
standard AIDS Clinical Trials Group (ACTG) criteria.

KS was first described in 1872 by the Austro-Hungarian dermatologists, Moritz Kaposi. Until the HIV
disease epidemic identified with AIDS, KS remained a rarely diagnosed tumor. It is now recognized as
the most frequent AIDS-related malignancy and is often characterized by multifocal, widespread
lesions.

Continuing Research

Two additional Ligand studies reporting Phase III trial results on Panretin gel (alitretinoin) 0.1% are
being discussed today at the International AIDS Conference in Geneva. These findings are included in
the company's NDA submission with the FDA.

Phase II trials with Panretin capsules are ongoing in breast and pediatric cancers, and in bronchial
metaplasia. Phase II trials in myelodysplastic syndrome and in severe plaque psoriasis have been
completed. The results of the ongoing studies are expected to be announced in 1998 and may support
additional studies upon which additional NDAs could be based. Panretin capsules are also planned to
be studied in a European trial in patients with acute promyelocytic leukemia.

Since 1989, Ligand Pharmaceuticals Incorporated has established a leadership position in gene
transcription technology, particularly intracellular receptor (IR) technology and Signal Transducer and
Activators of Transcription (STATs). Ligand has applied IR and STATs technology to the discovery
and development of small molecule drugs to enhance therapeutic and safety profiles and to address
unmet patient needs in cancer, women's and men's health and skin diseases, as well as osteoporosis,
metabolic, cardiovascular and inflammatory diseases.

This news release may contain certain forward looking statements by Ligand and actual results could
differ materially from those described as a result of factors including, but not limited to, the following.
There can be no assurance Panretin, or any product in the Ligand pipeline, will be successfully
developed, that subsequent clinical trials will be supportive of additional regulatory filings, that
regulatory filings will be made on a timely basis, or at all, that regulatory approvals will be granted, that
patient and physicians acceptance of these products will be achieved, that final results of human clinical
trials will be consistent with any interim results, or that final results will be supportive of regulatory
approvals required to market products. Ligand undertakes no obligation to update the statements
continued in this press release after the date hereof.

Ligand Pharmaceuticals' releases are available via fax at no charge by calling 888/329-9832 or on the
world wide web at www.businesswire.com/cnn/lgnd.htm.

CONTACT: Investors:
Susan Atkins, 619/550-7687
or
Media:
Mary Kenny, 619/550-7536



To: Robert L. Ray who wrote (22834)6/30/1998 9:40:00 AM
From: Henry Niman  Read Replies (1) | Respond to of 32384
 
Here's Panretin topical:

Studies Presented At 12th International AIDS Conference
Support Ligand's Panretin Gel Effectiveness in Controlling
Dermal Lesions in Aids-Related Kaposi's Sarcoma

Business Wire - June 30, 1998 09:21

%LIGAND LGND %CALIFORNIA %MEDICINE %PHARMACEUTICAL V%BW P%BW

GENEVA, Switzerland--(BW HealthWire)--June 30, 1998--

Up to 50 Percent of Patients Studied Experienced Clearing/Reduction of Lesions; Tumor Reduction
Observed Independent of Concurrent Antiretroviral Therapy

Scientists participating in the 12th International AIDS Conference in Geneva today presented data
from two Phase III studies demonstrating that Ligand (LYE-gand) Pharmaceuticals Incorporated's
(NASDAQ:LGND) Panretin(R) gel (alitretinoin) 0.1% is clinically effective in treating dermal lesions of
AIDS-related Kaposi's sarcoma (KS) in up to 50 percent of patients studied.

These data further support previous safety and efficacy findings for Panretin gel reported in earlier
investigations. The data presented today were used to support a New Drug Application (NDA) which
Ligand submitted to the U.S. Food & Drug Administration on May 26, 1998.

Patient responses to Panretin gel in Phase III investigations were significant enough that one of the two
studies, the results of which were presented today, had stopped enrollment early in accordance with
the study's protocol after an 82-patient interim analysis. The interim analysis concluded that patients
treated with Panretin gel were six times more likely to have shown a complete or partial regression of
KS lesions compared to patients receiving a vehicle gel without active ingredient as a placebo control.
Reported for the first time today was the 134-patient final analysis which confirmed the positive results
of the interim analysis.

A second trial showed that 35 percent of patients receiving Panretin gel demonstrated either a
complete or partial response compared to only 18 percent of those receiving vehicle gel. This
investigation also included an open-label follow-on phase of treatment. Results from the open-label
portion of the study showed that nearly one out of every two patients (49 percent) exhibited a
complete or partial response to therapy with Panretin gel.

Side effects in both trials were principally confined to local skin irritations, pain and erythema and were
easily managed, according to investigators. Patient disease status and response rates were evaluated
using the AIDS Clinical Trial Group (ACTG) criteria as applied to topical therapy of cutaneous lesions.

"The scientific presentations made in Geneva today support the growing body of clinical evidence that
Panretin gel has significant potential as a therapeutic in the management of AIDS-related KS," said
Ligand chairman, president and chief executive officer David E. Robinson. "With our recent NDA
submission, we hope to bring this non-invasive and less toxic therapy to KS patients and the physicians
who treat them as rapidly as possible."

50 Percent Response Strongest Panretin Gel Data Reported to Date

The data from the North American trial were presented by Dr. Alvin Friedman-Kien of New York
University's Ronald O. Perelman Department of Dermatology. This trial, conducted by the North
American Panretin Gel KS Study Group, involved 268 patients at 35 medical centers (32 in the U.S.
and three in Canada). HIV-positive patients with biopsy-proven KS were randomized to receive
Panretin gel or vehicle gel, with treatment intended to last 12 weeks. Evaluation of six index lesions
was conducted at least every four weeks.

Treatment and control arms were well matched as to baseline CD4+ count (median 154 cells/mm3
compared to 144 cells/mm3); percentage receiving prior systemic therapy for KS (36 percent
compared to 34 percent) and prior topical/local anti-KS therapy (49 percent compared to 53
percent). The percentage receiving concurrent antiretroviral (ARV) therapy included: any ARV (93
percent compared to 93 percent), three or more ARV (72 percent compared to 79 percent) and
protease inhibitors (74 percent compared to 82 percent).

The overall response (complete or partial) determined by applying ACTG criteria to each patient's six
index lesions was 35 percent (47 of 134 patients) for Panretin gel compared to 18 percent (24 of 134
patients) for patients receiving vehicle gel. The cumulative response rate for all patients treated with
Panretin gel, including the follow-on open-label phase, was 49 percent (90 of 184 patients), with two
patients experiencing a complete clearing of all index lesions.

"Response to Panretin gel was very clear in nearly half of all patients studied," said Dr. Friedman-Kien,
principal investigator. "Even more provocative, however, is our finding that responses remained
statistically significant even after adjusting for ARV therapy. Clinicians evaluating Panretin gel may have
questioned whether it is the antiretrovirals or the gel that is impacting tumor growth. This study
indicates that Panretin gel provides an anti-tumor effect independent of AVR therapy."

Tumor regression among the control group correlated with the degree of ARV therapy, but after
adjusting for concurrent ARV therapy, response rates for Panretin gel remained substantially higher
(p=0.0015) than the control. Patient quality-of-life responses were also higher in the study's Panretin
gel arm.

Researchers also noted the benefits of the drug's easy application, strong compliance rates, limited and
manageable side effects and, most encouraging, responses among patients who had previously failed
chemotherapy treatment or had CD4+ counts below 50 cells/mm3.

Final Results Reported for International Study

Also reported today by Neil Bodsworth, M.D., director and research program coordinator at the
Taylor Square Private Clinic, Sydney, Australia, was a further analysis of results from an international
Phase III study. The study was conducted at 22 enrolling sites in Australia, the United States and
Europe. This trial was designed to evaluate the effectiveness of Panretin gel in the palliative treatment of
cutaneous AIDS-related KS.

Patient accrual was halted in August 1997 after a planned interim data analysis found that patients
receiving Panretin gel were significantly more likely to improve than those receiving the control, or
vehicle, gel. With 82 evaluable patients enrolled, researchers were able to determine a statistically
significant drug response -- with a "p value" of 0.00027 -- and accrual was stopped.

"While a portion of these data have been previously reported," said Dr. Bodsworth, "we are
particularly excited by the final results, which confirm the positive findings from the interim analysis."

The final analysis included 134 patients. Patients assigned active gel were significantly more likely than
placebo patients to respond to treatment (37 percent compared to 7 percent). The study's treatment
arms -- Panretin gel compared to vehicle gel -- were well matched for various demographic factors as
well as CD4+ cell count at baseline (160 cells/mm3 compared to 132 cells/mm3); proportion receiving
any ARV on study (92 percent compared to 96 percent), and protease inhibitor (73 percent
compared to 81 percent) and any triple or greater ARV combination (73 percent compared to 82
percent).

All patients completing the trial were eligible to receive Panretin gel following the study's termination.
Of the 134 patients, 99 patients continued treatment with Panretin gel.

Kaposi's Sarcoma

KS is the most frequent AIDS-related malignant cancer and is often characterized by multifocal,
widespread lesions. KS may involve the skin, oral mucosa, lymph nodes and visceral organs, such as
the lung and gastrointestinal tract. KS was first described in 1872 by the Austro-Hungarian
dermatologist, Moritz Kaposi. Until the HIV-disease epidemic identified with AIDS, KS remained a
rarely diagnosed tumor.

Value of Retinoids in Cancer Therapy

Panretin gel and Panretin(R) capsules (alitretinoin) are two Ligand-developed retinoid-based drugs that
have reached advanced stages of testing. These products can be described as vitamin A derivatives
which are designed to act selectively on diseased or malfunctioning cells. Current treatments for many
diseases, including cancers such as KS, often have serious unwanted toxic effects that can impede
aggressive treatment regimens and negatively impact quality of life.

In addition to the Panretin gel trials, the oral form of Panretin has been studied in two Phase II trials for
the treatment of AIDS-related KS. Panretin capsules are also being evaluated in an NCI-sponsored
Phase I trial in combination with interferon for patients with AIDS-related KS. Research on Panretin
capsules for the treatment of KS is also being presented today at the International AIDS Conference.

Phase II trials with Panretin capsules are ongoing in breast and pediatric cancers, and in bronchial
metaplasia. Phase II trials in myelodysplastic syndrome and in severe plaque psoriasis have been
completed. The results of the ongoing studies are expected to be announced in 1998 and may support
additional studies upon which additional NDAs could be based. In addition, Panretin capsules are
planned to be studied in a European trial in patients with acute promyelocytic leukemia.

Since 1989, Ligand Pharmaceuticals Incorporated has established a leadership position in gene
transcription technology, particularly intracellular receptor (IR) technology and Signal Transducer and
Activators of Transcription (STATs). Ligand has applied IR and STATs technology to the discovery
and development of small molecule drugs to enhance therapeutic and safety profiles and to address
unmet patient needs in cancer, women's and men's health and skin diseases, as well as osteoporosis,
metabolic, cardiovascular and inflammatory diseases.

This news release may contain certain forward looking statements by Ligand and actual results could
differ materially from those described as a result of factors including, but not limited to, the following.
There can be no assurance Panretin(R), or any product in the Ligand pipeline, will be successfully
developed, that subsequent clinical trials will be supportive of additional regulatory filings, that
regulatory filings will be made on a timely basis, or at all, that regulatory approvals will be granted, that
patient and physicians acceptance of these products will be achieved, that final results of human clinical
trials will be consistent with any interim results, or that final results will be supportive of regulatory
approvals required to market products. Ligand undertakes no obligation to update the statements
contained in this press release after the date hereof.

Ligand Pharmaceuticals' releases are available via fax at no charge by calling 888/329-9832 or on the
world wide web at www.businesswire.com/cnn/lgnd.htm

CONTACT: Ligand Pharmaceuticals Incorporated
Susan Atkins, 619/550-7687
Mary Kenny, 619/550-7536




To: Robert L. Ray who wrote (22834)6/30/1998 2:40:00 PM
From: Henry Niman  Respond to of 32384
 
Here's what Dow Jones had to say about today's press releases:

paradise-web.com



To: Robert L. Ray who wrote (22834)7/10/1998 5:40:00 PM
From: Robert L. Ray  Read Replies (2) | Respond to of 32384
 
Well another week of positive news from LGND without much price movement. Also another week of me selling other stocks to buy more LGND. This thing better run away from me soon... I'm running out of other stuff to sell :) Bye, bye AGPH. At some point the street is going to wake up and see the value of the science behind LGND.