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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Rocketman who wrote (5454)	8/11/1998 9:10:00 AM
From: jayhawk969	Read Replies (1) \| Respond to of 9719

Rocketman, Allergan has been selling its 2MM to 3MM shares of Ligand as announced in the latest 10-Q. This is a significant contributor to the recent price decrease. The overhang still exists by any reasonable estimate, and they will continue to sell into next quarter. Seragen shareholder vote scheduled for tomorrow. Appears to be a lock. Ontak re-submittal due anyday. Fundamentally no bad news. Market effect, and Allergan overhang are the primary concerns going forward. I would hope that we are close to a bottom. My personal target for accumulating additional LGNDW is 3 1/4. J.D.