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

To: Henry Niman who wrote (28623)	3/30/1999 10:13:00 PM
From: Machaon	Respond to of 32384

This is getting real funny. I'd laugh, if it weren't so painful! I think I know where Ligand made a non existent $1.26 billion in 1998! They made it in sales of Panretin Capsules, Targretin Gel and Targretin Capsules, in which they do not have FDA approval, BUT for which they do have a 10 year distribution agreement with Ferrer. This is truly high stakes poker for Ligand shareholders. Ligand's distribution agreement with Ferrer to sell five Ligand products in 2000 (two of which have been approved) is implying that Targretin Gel and Targretin Capsules and Panretin Capsules have a high probability of approval. Part of the agreement includes Targretin Capsules for Breast Cancer and Psoriasis. As shareholders, we have some info about these unapproved products, but we don't know what kind of cards Robinson is holding. Is he bluffing? How strong is his hand? By now, they probably have some partial results from their first "8 week" review of their Targretin ABC Phase II trial, and they have a large amount of "unpublished" clinical test results for these products.

To: Henry Niman who wrote (28623)	3/31/1999 2:50:00 AM
From: Cheryl Galt	Respond to of 32384

Henry, ... Actually, for me the really good news is 1) confirmation that both Targretin Phase III CTCL trials are complete ---- capsules and gel. 2) And Ligand believes the results are sufficient to form bases for the pair of NDAs. Did we know that for sure before?? I don't think so. I think this is the first such statement directly from Ligand. Cheryl ----------------------- -Ligand completed pivotal clinical trials in 1998, which we expect to be the basis for filing new drug applications for Targretin capsules and Targretin gel for the treatment of patients with CTCL ...