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

To: Hippieslayer who wrote (23255)	7/15/1998 11:08:00 PM
From: bob zagorin	Respond to of 32384

"...Excluding the impact of a gain from sale of Ligand stock and certain one-time costs discussed below, diluted earnings per share for the second quarter of 1998 were $0.54 compared to $0.33 for the second quarter of 1997. During this quarter, Allergan initiated a program of liquidating its common stock holdings in Ligand Pharmaceuticals Incorporated (Nasdaq: LGND - news). Allergan realized a pre-tax gain of $5.5 million, or $0.06 per share after tax, from the sale of the Ligand stock. Allergan intends to continue reducing its holdings of Ligand common stock on a selective basis over the next several quarters..." therein lies one good explanation for LGND stock price decline this past Q. btw, i reviewed LGND's BOP for the Q. it declined from green to yellow near the begining of April when the price was near 16. went down with price all thru that month, rebounded in may and then went back down in june. does anyone know how much stock allergan sold and how much they have left to sell. is this because of LGND closing out partnership (ALRT). or is there some other reason (maybe tony's on the board?).

To: Hippieslayer who wrote (23255)	7/15/1998 11:23:00 PM
From: jayhawk969	Read Replies (2) \| Respond to of 32384

Fugazi, Did you read this article? "Excluding the impact of a gain from sale of Ligand stock and certain one-time costs discussed below, diluted earnings per share for the second quarter of 1998 were $0.54 compared to $0.33 for the second quarter of 1997. During this quarter, Allergan initiated a program of liquidating its common stock holdings in Ligand Pharmaceuticals Incorporated (Nasdaq: LGND - news). Allergan realized a pre-tax gain of $5.5 million, or $0.06 per share after tax, from the sale of the Ligand stock. Allergan intends to continue reducing its holdings of Ligand common stock on a selective basis over the next several quarters." I'll have to do some digging to see how many shares they still own. Can sure tend to depress prices. /