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

To: Machaon who wrote (23285)	7/16/1998 6:22:00 PM
From: Torben Noerup Nielsen	Read Replies (1) \| Respond to of 32384

The way the stock price and volume is going right now makes it look like a number of people playing chicken. The major investors know about the Allergan overhang which will prevent the price from moving too far too fast. At least without a really major announcement. If Ligand were to announce that Targretin/XXX combination therapy caused regression in 94% of all humand breast cancers, then the overhang would be gone in minutes, but short of that, it will take time. But barring this sort of thing, there will be time to get on board if the overhang starts disappearing. And Allergan knows that they won't get a much higher price than the present one for their remaining stock. So it is all a question of who will blink first. If Allergan really has another 2,000,000 shares they want to sell, I would expect them to be working hard on a private bulk deal instead of trying to sell on the normal market. Cheers, Torben