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

To: LLCF who wrote (27192)	1/5/1999 12:15:00 PM
From: Machaon	Read Replies (2) \| Respond to of 32384

The Elan deal and the $12 million from the warrants, without dilution, should make the 4th quarter earnings report look pretty good, IMHO. The $12 million allows Ligand to delay funding that would be dilutive to the shareholders. With Ligand's large pipeline, they could use double or triple, etc. the funding they now have at their disposal (a lot of it dilutive). In that regard, it looks like the early exercise of warrants is good for the stockholders.