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

To: Machaon who wrote (24162)8/7/1998 10:34:00 PM
From: Henry Niman  Respond to of 32384
 
Today, a couple of big blocks (50K and 60K) went off at the bid price of 9 7/8. Obviously, there were some big boys buying at prices from 9 15/16 to 10. AGN may have given the green light to sell 110K at 9 7/8 and now may be looking to sell more at $10 (or more). After the close, someone wanted to buy 7900 shares. After the initial retail selling yesterday, retail began to buy when they saw the big block buys, creating a shortage of those selling below $10. Therefore the buy of 7900 might have been forced to buy at 10 1/4 because there were no more shares being sold at 9 7/8, but the MM knew that AGN would sell more at 10 (or 10 1/8?) so he he filled the 7900 at 10 1/4.



To: Machaon who wrote (24162)8/7/1998 10:50:00 PM
From: Henry Niman  Read Replies (1) | Respond to of 32384
 
The Panretin trials have been completed, but Targretin trials have not. When the Targretin trials are completed, both sets of results will be released as well as the selection of which drug will move to a registration track with Phase III trials. I believe that Panretin works, but elevates triglycerides. LGND is looking to see if Targretin will work, without raising triglycerides.


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