Following is part of the Legend article which goes over Spectrum:
Many more drugs are waiting in the wings. In a recent investor presentation, Ligand noted that phase three trials are underway on 13 of its partnered drug programs, and dozens more are in earlier-stage trials. The company singled out "Big Six" major pipeline assets.
One of them, Captisol-enabled oncology drug CE-Melphalan, could hit the market by year's end if the FDA approves it by the end of October, as expected. Ligand would get 20% in royalties from its partner Spectrum Pharmaceuticals (NASDAQ:SPPI).
Best of luck on your short position. But reality is that this stock is going higher from here. You should cover your position before it is too late.
FYI, Streets has suggested to consider a long position on ABIO for the target price to either double or triple from here. I believe Streets knows something about the buyout offer from Pfizer which is being considered behind the doors.