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

To: Henry Niman who wrote (23380)	7/20/1998 1:32:00 PM
From: RevMikeB	Read Replies (1) \| Respond to of 32384

<<<but for now the street clearly has a "show me" approach to most Biotechs, including LGND.>>> The key is when Ligand will do what the street wants. By the way, what does the street want to see? Earnings? Earnings with no or less dilution? FDA approvals? What? News hasn't helped, that's for sure.

To: Henry Niman who wrote (23380)	7/20/1998 1:55:00 PM
From: Harold Engstrom	Read Replies (1) \| Respond to of 32384

Ligand is not yet entitled to a huge market cap. It is already pretty healthy for a company without approved products on the market. There has been a pretty consistent dilution of equity through the years and the bulk of its pipeline is still far from reaching the market if it makes it that far. That doesn't mean that the science isn't compelling. But the stock market is only about science when there is a clear and direct line from 'science' to '$'. Ligand does not make that connection for most investors at this time. Maybe in 4 years that connection will be made.