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

To: Mudcat who wrote (27199)	1/5/1999 1:10:00 PM
From: Machaon	Read Replies (5) \| Respond to of 32384

<< Bob are you sober? What earnings did Lgnd receive from these deals? >> Interesting....... Ligand received $12 million from the exercise of the warrants, in the 4th quarter. They also received $20 million from Elan and another $30 million "issue price" funding from Elan at the end of September. Neither of the $20 million or the $30 million "issue price" funding were included in the 3rd quarter earnings report. In the 3rd quarter, Ligand had $4 million in revenues and spent $20 million, leaving a loss of $16 million (not including special items). If Ligand spent $20 million in the 4th quarter and received $32 - $62 million, that will result in a very positive earnings report this quarter. Anyone have any comments? Am I missing something?