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

To: Henry Niman who wrote (25889)	9/30/1998 8:32:00 AM
From: growthvalue	Respond to of 32384

BBRS is "concerned about the dilution costs it will incur" in case anyone missed it. They had the following to say about the deal: "INVESTMENT IMPACT: Neutral. We are encouraged by Ligand's substantial financial resources and the acquisition of Morphelan; however, we are cautious on the alliance given the potential dilution that could be involved for Ligand." Yes, they still rate it a buy (which I agree with), but they certainly weren't head over heels about this deal (which I also agree with). GV