SAN DIEGO--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) announced data from a preclinical study on its Selective Androgen Receptor Modulator (SARM) LGD-3303 at the American Society for Bone and Mineral Research Annual Meeting in Honolulu, Hawaii on September 16, 2007. Ligand tested the effect of LGD-3303 on bone density and strength in a three-month study using daily oral doses in ovariectomized, osteopenic rats, a well established model of post-menopausal osteoporosis.