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

To: JOEBT1 who wrote (26659)	11/24/1998 9:19:00 AM
From: Arthur Radley	Respond to of 32384

Look at the news site just below this message here on SI for the news release.

To: JOEBT1 who wrote (26659)	11/24/1998 9:21:00 AM
From: celeryroot.com	Respond to of 32384

its on BW..they are not new. Same old people minus SA

To: JOEBT1 who wrote (26659)	11/24/1998 9:37:00 AM
From: Henry Niman	Respond to of 32384

I haven't called IR that many times since SA left, but her explanations were much more detailed than those received since her departure. The story was picked up by Dow Jones last night. If the BW story is missing from some services, I suspect that its a BW mistake, although LGND should call their attention to the situation. I did get a FAX from LGND right about the same time as the BW time stamp.

To: JOEBT1 who wrote (26659)	11/24/1998 12:52:00 PM
From: Henry Niman	Respond to of 32384

I call LGND IR today to get an update on clinicals and conferences. Not much on specifics, but there were some positive notes. LGND will be presenting on Tuesday at the BBRS conference and I suspect that it will be more of an overview, than startling announcements. However, LGND was mentioned in BBRS's conference call this morning (in the context of new drugs that could be approved this year - LGND was one of three companies mentioned, and the only one with two products, ONTAK and Panretin). Of course there is a distinct possibility that Panretin could be approved this week. The trial was "cleaner" than ONTAK, so the FDA may have all of its significant questions answered before the 6 month deadline for a response. Ligand anticipates release of clinical data on several trials. The data should be released by the end of the year and will include the diabetes data as well as several additional applications. Milestone payments for the 4Q were also projected to be much better than 3Q, suggesting that some of the clinical data will be positive. In summary, although there were no specifics, it seems that some significant data will be released fairly soon.

To: JOEBT1 who wrote (26659)	11/24/1998 3:17:00 PM
From: Henry Niman	Respond to of 32384

BBRS did a conference call on their upcoming Health Sciences conference (LGND presents on Tuesday). The overview was that the Biotechs with late stage products were poised to move. They defended their CNTO downgrade and warned investors to stay away until the dust settles. They also were big on the larger Biotechs going forward. The companies that the specifically mentioned were ABGX, VRTX, CORR, IMNX, VICL, PGNS, and ALXN (LGND was mentioned in the context of having two drugs which could be on the market by the end of the year).

To: JOEBT1 who wrote (26659)	11/24/1998 6:32:00 PM
From: Henry Niman	Respond to of 32384

BBRS summarized their conference call at: paradise-web.com

To: JOEBT1 who wrote (26659)	11/24/1998 6:35:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Legg Mason came out with a reiterated BUY on LGND, citing their pipeline and future off label use of Targretin, which they expect to be approved late next year or early 2000 (today LGND indicated that an NDA for Targretin topical would probably precede Targretin oral).