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

To: Henry Niman who wrote (28528)	3/14/1999 9:22:00 PM
From: Spekulatius	Respond to of 32384

LGND royalties I have tried to dig out some information about the % of royalties LGND may receive but I could not get much out of the 1997 annual report. Regarding the LLY partnership,i believe,you are partly wrong. On side 2 of the annual report ('Major Alliances in Metabolic disease') is written: Ligand will receive double digit royalties on net sales,if any of the most advanced products and single digit royalties on earlier stage compounds. Well,since Targetin has fallen off the cliff (for Diabetes) i am curious of LGD1268 and LGD1324 count as advanced products or early stage products. The informations about the royalties are amazingly cloudy and make it very difficult to analyze the potential of the company.

To: Henry Niman who wrote (28528)	3/15/1999 7:15:00 PM
From: Edscharp	Respond to of 32384

FYI - From MTSL date March 11, 1999 "As part of their ongoing collaboration, Ligand received an undisclosed milestone payment from Wyeth-Ayerst for Wyeth-Ayerst's filing of an investigational new drug (IND) application for ERA-293, LGND's tissue-selective estrogen receptor modulator (SERM) for the treatment of breast cancer. Phase I testing is scheduled to commence by the end of the month. This is the second SERM for which an IND has been filed as part of this collaboration. The first IND was for TSE-424 for the treatment of post-menopausal osteoporosis, filed in March of last year. While these two product candidates are at an early stage of development, they have big potential, and should not be ignored. SERM's are an area in which LGND is the technology leader. LGND's stock has continued to weaken, probably due to investors' continued concerns over the company's timetable of profitability being pushed back as a result of the delays on milestones from Eli Lilly. An excellent opportunity to buy a fantastic company at cheap prices is being presented to investors as a result. LGND is a buy under $16."