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

To: rickyc who wrote (23637)	7/28/1998 9:38:00 AM
From: Henry Niman	Respond to of 32384

Ruzlin is a TZD that activates a receptor, PPARgamma, that turns on genes which overcome insulin resistance. The activated receptor partners with another hormone receptor, RXRalpha. LGND's and AGN's rexinoids activate RXRalpha. Thus in animal models of type II diabetes, they have been shown to synergize with TZDs like WLA's Rezulin and SBH's Avandia (and TZDs are effective at lower concentrations which may avoid the liver problems). LLY is supposed to begin Phase II clinical trials in the US soon using Targretin as monotherapy (and possibly combination therapy with Rezulin and other approved treatments for diabetes). LLY is also supposed to file INDs for one of LGND's second generation rexinoids (LGD1268 or LGD1324). A few days ago, AGN announced a deal with WLA to develop AGN's rexinoids (LGND gets royalties). The Rezulin problems may have helped seal the AGN/WLA deal. LGND had talked extensively with WLA last summer, but WLA did not want to give LGND up front funds. Consequently, LGND signed a $200 million deal with LLY, including $50 million up front and $75 million tied to early milestones such as starting US trials with Targretin or filing INDs for LGD1268 or LGD1324.

To: rickyc who wrote (23637)	7/28/1998 9:45:00 AM
From: Henry Niman	Respond to of 32384

There is some info on Rexinoids and diabetes at home.att.net I am trying to update the site, but the site for web page updates seems to be down at this time.

To: rickyc who wrote (23637)	7/28/1998 11:18:00 AM
From: Henry Niman	Respond to of 32384

I've updated the diabetes site at home.att.net to include several stories on the recent Rezulin concerns, as well as recent data on SBH's TZD (Avandia) synergies with Rexinoids, and the Rexiniod deal between AGN and WLA.

To: rickyc who wrote (23637)	7/28/1998 12:08:00 PM
From: Henry Niman	Respond to of 32384

LGND's pipeline is much larger than its outstanding shares. They will generate significant EPS when products come to market. BARS projected EPS increasing at around 100% per year once LGND became profitable - and their projection for profitability was 2000, not 1999.