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

To: Cheryl Galt who wrote (28487)	3/9/1999 8:19:00 AM
From: Machaon	Read Replies (1) \| Respond to of 32384

<< This morning, I'm please to say that Pam sent me another email with more information. >> Did you receive any info that would shed a positive light on LGND? Personally, I've decided not to add to my holdings at this time, until news comes out about a Targretin oral NDA for CTCL, and/or results from Targretin clinicals in breast cancer or psoriasis. I would think that Targretin oral would be eligible for "fast track" since I don't think that an "oral" treatment for CTCL exists at this time. Ligand needs to come out with some positive news to overcome the negative news about the significant delay in their Lilly diabetes program.

To: Cheryl Galt who wrote (28487)	3/9/1999 2:01:00 PM
From: Machaon	Read Replies (4) \| Respond to of 32384

Revisiting the latest news release: " ... however, the return of Targretin rights will now permit us to rapidly generate revenues from distribution agreements pending in territories in which we will not directly market Targretin in oncology and dermatology" said Ligand Chairman, President and CEO David E. Robinson. "We expect these opportunities plus potential milestone revenue from the second generation compounds will contribute to our march to profitability this year and next," he continued. As we await NDA news about Targretin, or anything else in clinical trials, it's interesting to note that Robinson expects "Targretin opportunities" to rapidly contribute towards 1999-2000 revenues. It's no wonder that a couple of analysts thought that Targretin was already approved. This was either a very misleading statement, or a very confident pre-announcement of solid clinical results in oncology and dermatology. How else could one interpret the release? Robinson is saying that opportunities for Targretin in oncology and dermatology will contribute towards profitability in 1999-2000. OTOH, the phase II breast cancer trials only started late last year. How much progress can there be? Was he just trying to take the sting out of the long delay in the diabetes program, or can we "expect" significant and positive Targretin announcements shortly?