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POTOMAC CAPITAL MANAGEMENT LLC
> LGND
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 03/31/2008 | LIGAND PHARMACEUTICALS INC | LGND | 0 | -100,000 | 0 | 995 | |
| 09/30/2007 | LIGAND PHARMACEUTICALS INC | LGND | 100,000 | 0 | -995 | -1 | ($0.01) |
| 06/30/2007 | LIGAND PHARMACEUTICALS INC | LGND | 100,000 | 62,700 | -994 | -624 | ($0.01) |
| 03/31/2007 | LIGAND PHARMACEUTICALS INC | LGND | 37,300 | 0 | -370 | -408,370 | ($0.01) |
| 12/31/2006 | LIGAND PHARMACEUTICALS INC | LGND | 37,300 | 7,300 | 408,000 | 107,000 | $10.94 |
| 09/30/2006 | LIGAND PHARMACEUTICALS INC | LGND | 30,000 | 30,000 | 301,000 | 301,000 | $10.03 |
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