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

To: Henry Niman who wrote (23922)	8/4/1998 7:39:00 PM
From: CYBERKEN	Respond to of 32384

Opening of semesters at major universities has been sited in the past as a good time to raise interest in the sector (I'm not sure why). If there's anything to that, we're only a month away.

To: Henry Niman who wrote (23922)	8/4/1998 8:20:00 PM
From: medsunman	Read Replies (2) \| Respond to of 32384

Henry and Tonyt: Let me jump into this game. But first, a tip of the hat to Tonyt, who has (for the second time) correctly predicted LGND's fall. I would have much preferred, however, to see Henry receive the laurels for his $30 in August bet. Here's my short term prediction: LGND will come under more pressure this week as retail investors sell to cover margin calls. This will be offset as some of the 2.9 million shares sold short cover and take profits. LGND will stay around $9.75-$10.25 until the FDA acts on ONTAK (maybe late August - early Sept). If ONTAK is approved, any small gain to say, $12.5, will be short-lived as investors sell on the news. If ONTAK is rejected, LGND will hit a new low, maybe $8. The only thing that will move this stock up between now and year-end is good Phase II data with Targretin in breast cancer. Any idea when we can expect to hear about that?