Thanks for the information. I am in the acgood camp of I don't put much value on it or I would contact the company to clarify... maybe if I am not so lazy I will at least see if IR will answer and e-mail (but you know me I am lazy ). I have to go back over my Ligand calls to see for some reason 5 years is sticking out for trial duration which would really put this in the low present value.
Hopefully the approach works but unfortunately I think we are many years from knowing how promising the target is.