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

To: bob zagorin who wrote (25879)	9/30/1998 7:52:00 AM
From: Mudcat	Read Replies (1) \| Respond to of 32384

< i seem to have more confidence in Bear Stearns than some of the knee jerk negatives posted by mudcat etc.> Bob your getting like Henry and making unsubstantiated statements. What negative knee jerk posts did I make? If anything you came right out with a knee jerk response and said it was a good deal without even knowing most of the details. Although this deal gives Lgnd a cash infusion, they wouldn't have needed the cash if they didn't do the SRGN deal, it also causes more major stock dilution. The SRGN deal was a major mistake in my opinion. It also interesting that only a few days after stating they would not further dilute the stock, Robinson makes a deal like this. As for the Elan deal, I never gave an opinion as to if it was ggod or bad. I stated it was to early to make a judgement and there are many questions that have to be answered before anyone can say if this was a good deal: 1. Does anyone know who will pay to get this Morphine pill from Phase III to FDA approval? Did Lgnd take on this responsibility when they licensed this drug? 2. What revenue stream will this morphine pill provide? 3. Why are employees continuing to leave a company with the best pipeline in the industry? Bob can you even give an opinion on the deal with such a lack of info? (Not that anyone on this board would use your advice for anything any how)

To: bob zagorin who wrote (25879)	9/30/1998 2:24:00 PM
From: Cheryl Galt	Respond to of 32384

Bob, Speaking of having confidence in analysts: >> thanks for posting David Molowa's analysis. It confirms my first reaction >> ... don't know why but i seem to have more confidence in Bear Stearns than some of the knee jerk negatives posted by mudcat etc. ---------------- It may feel good to have one's hunches confirmed by authority figures. But, certainly Bear Stearns -- in making its projections --was not privy to information about this coming Elan deal, and neither was Henry. Furthermore, Bear Stearns has its own axe to grind and customers to service. I LOVE to hear NEW recs from these guys on one of my small caps that I've researched, because new recs give a dusty stock publicity that gets it deserved attention, which in turn often gets my stock moving. BUT, a RE-it from these "analysts" is always suspect as an attempt to pump the stock to get favored customers a chance to get out on a pop before the drop. (Merrill Re-its have often looked particularly suspicious to me.) ------------------------------------------- To Henry and Mudcat and Etc (whoever you etc-guys are) who have been pulling together balanced information and insight -- including negatives -- on Ligand's recent complicated and fast-moving deals: THANKS for the ongoing thorough discussion, THANKS for bouncing around a lot of ideas, with mercifully little shooting of messengers. I'm glad to see a number of new (and returned) people contributing to the thread. Your diversity of ideas and expertise is an asset to all of us. (The limited-attendance thread last summer was thin and boring (IMO).) Furthermore, as you come on board, I make a point of NOT assigning anybody into either the nay-sayer or yea-sayer clique, because as someone here said a few days ago, "NOBODY likes to be pigeonholed!!!" Regards to all, (you too Bob, I'm about out of steam now... Sorry,...) Cheryl PS I realize that this post is a Flagrant 4 violation of my suggested, VOLUNTARY, FOUR-Point code of "civility," but NOBODY is perfect. (It takes a Flagrant 4 Post to point out another Flagrant 4 post, which is one of the beauties of Rule 4. So I got caught. (Rule 4 IS a tough one ---I've held off since August 21st. Please be patient with me .... ) And Yes, as usual, my post is in a time warp, about 16 hours behind the discussion (Pacific time). For a busy person, keeping up with this thread is like trying to catch a moving train. <G>