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

To: growthvalue who wrote (25846)	9/29/1998 3:43:00 PM
From: bob zagorin	Read Replies (2) \| Respond to of 32384

GV, we have all agreed, i think, to avoid personal invective. please try.

To: growthvalue who wrote (25846)	9/29/1998 4:41:00 PM
From: jayhawk969	Respond to of 32384

GV, It is obvious to me that this company was in a world of hurt cash wise. Their burn rate would not last through the 1st quarter. The prior stating that Ligand had sufficient cash through 99 was rapidly becoming a false statement. Today's deal IMO substantiates that conclusion. Otherwise why not wait, rather than give the stock away at $11.00. We now experience severe dilution as a result of relatively low conversion prices. There are a couple of offsetting points. This company was between a rock and a hardplace, this transaction neuters the upside but probably smooths the downside. And it provides necessary capital for the Ontak acquisition. I will now get my $.23 per share instead of Ligand shares. Robinson has a "houseful of toys" that are costly to maintain and is unwilling to part with any of them. Sometimes a little contraction is healthy. I belive this company will be successful, however, the potential upside for the shareholder is diminishing. J.D.