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

To: Vector1 who wrote (27388)	1/13/1999 1:19:00 PM
From: medsunman	Respond to of 32384

Vector1, I couldn't agree with you more. Until the Phase II Targretin results come out in Q3, I don't expect much from LGND. If those results are poor, watch out below. If they are good, LGND will take off as people will expect Targretin approval for CTCL with immediate off-label sales in breast cancer.

To: Vector1 who wrote (27388)	1/13/1999 7:34:00 PM
From: Louis A. Rawden	Read Replies (3) \| Respond to of 32384

What time line do you think we are looking at for the Targrtin phase II results.....August/Sept??? If phase II results are very positive would the trial be cut short, or does this only happen in Phase III trials with excellent results. I hope my questions are not stupid....the Bio-tech area is relatively new for me. Thanks

To: Vector1 who wrote (27388)	1/13/1999 7:37:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Ligand is headlined on the front page of the San Diego Union business section: "Ligand Expects Drug Approval Profit - 2 products await OK: S.D. firm ha more promise in its pipeline". Article indicates that DR said that Panretin approval was a few weeks away and LGND was expected to turn a profit this year. ONTAK approval was also expected "soon". Robinson told H&Q attendees, "we are confident that we are in the final stages of dotting I's and crossing T's with our partners at the FDA." Expected sales were $35 million for Panretin and $50 million for ONTAK. Robinson expected to meet LGND's longstanding goal of reaching profitability by the mellinium. Profit would be small in 1999, but growing rapidly in 2000 and 2001. "If the company succeeds, it would represent a validation of an unusual biotech strategy in which Ligand has financed a long list of research programs in an effort to reduce the risk of failure. That has produced one of the highest burn rates among San Diego biotechs, as Ligand used up $80 million or more in some years, but has also created a pipeline that could include several more candidates for approval in 1999 and 2000. Analyst Richard van den Broek of Hambrecht & Quist said this put Ligand in the enviable position compares with the majority of biotechs that have one or two candiates for FDA approval, if any." "Now they are actually where the rubber meets the road, with products that are entering the marketplace, van den Broek said." Robinsons goals were to generate $200-$300 million in sales by 2001 and $500 million by 2003 partly through sales of its own drugs and partly through collaborators. Targretin for lymphomas and breast cancer was also mentioned.