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

To: notyet who wrote (27521)	1/20/1999 10:58:00 PM
From: Henry Niman	Respond to of 32384

Because Droloxifene and Tamoxifen response rates were similar for treating advanced breast cancer, PFE did not submit a NDA for Droloxifene treatment of breast cancer. Instead they began a breast cancer prevention trial. They have another SERM, CP-366,156, which was also selected by LGND under the osteoporosis alliance, and CP-366,156 may be better than Droloxifene, so its not clear if one or both compounds will move to phase III. LGND gets 6% on CP-366,156 and I think that if only Droloxifene is developed, then it's 3%, but goes to 6% if used for additional indications. All of LGND other alliances include double digit royalties. PFE was the first deal, and is at the lowest rate.