Lemelson Capital Management Further Increases Short Position in Ligand Pharmaceuticals (NASDAQ: LGND), Appends its LGND Research Report

MARLBOROUGH, Mass., July 7, 2014 /PRNewswire/ -- Lemelson Capital Management, a private investment management firm, today announced that it has further increased its short position in Ligand Pharmaceuticals (NASDAQ: LGND) and appended with additional concerns its initial June 16, 2014 research report. 

Today's appended report can be found here. 

"The ancillary applications for Ligand's Promacta® and Kyprolis® have no commercial viability, and the company's Duavee® sales remain immaterial," Lemelson Capital Management's Chief Investment Officer Emmanuel Lemelson said in releasing today's appended Ligand Pharmaceuticals report.  "There is no circumstance where speculation has a legitimate value greater than zero," he said.

Today's appended research report on Ligand Pharmaceuticals includes new material information that has been added to the firm's original June 16, 2014 research report, which can be found here.

Disclosure: Lemelson Capital is currently short shares of LGND for its clients.

About Lemelson Capital Management:

Lemelson Capital Management, LLC is a private investment management firm focused on deep value and special situation investments.  The firm's flagship fund, The Amvona Fund, has been named repeatedly one of the world's top performing hedge funds.  For more information, see:  http://www.lemelsoncapital.com

Contact:

+Emmanuel Lemelson, Chief Investment Officer, Lemelson Capital Management, LLC
(508) 630-2281

SOURCE Lemelson Capital Management, LLC