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

To: Hippieslayer who wrote (23262)	7/16/1998 7:51:00 AM
From: tonyt	Read Replies (1) \| Respond to of 32384

Why would they sell the stock of the 'best pipeline in the industry'? ...they must have 'weak hands' ;-)

To: Hippieslayer who wrote (23262)	7/16/1998 8:11:00 AM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

As most readers of this board know, when the LGND/AGN partnership was dissolved at the end of last year, the two companies became competitors (LGND now targets skin diseases - Panretin and Targretin are in trials against psoriasis and Targretin targets actinic keratosis) and although LGND has already found a metabolic disease partner for rexinoids in LLY (the $200 million mega deal), AGN is also looking for competing partners. Even though AGN is larger than LGND and they produce a profit, they are still under funded relative to the thousands of retinoids and rexinoids identified under the LGND/AGN alliance. The sale of LGND shares added $0.06 to AGN's EPS and it also provided capital for additional development. AGN's announcement that they will continue to sell over the next several quarters, obviously puts them into the "weak hands" category.