Ann: Operational Update, page-60

That is silly. Assuming it is the same person you think they placed a large order at 2c in order to get people to drive it higher so they could ACTUALLY pay 2.7c? (Note they actually got millions today - it is not a prop).

Come on Akki - be reasonable.

My interpretation is they thought a big order at 2c might attract people looking for liquidity at the top end of a 1.5 year range. It didn't work so now they are chasing it cause they want the stock. I must admit if it wasn't for the Genetech deal I would have been tempted to sell at 2c and see if I could get some lower down again - it was the first time there was any decent liquidity at that level in a long while. Instead I thought long and hard about what I think the company is worth now with the first pharma (in my time invested) paying USD2m for a piece of the company described as 'non core' and I checked the iMYC program again with a few scientific types and talked to a few broker/insto types as well. What I found was a significant increased interest in the story - admittedly it was in the aftermath of the Federal Governments announcements of the allocation of funds to 3 bioscience style fund managers so maybe there was a bit of sector hype stirring up interest but there was certainly plenty of it. Now we have just finished the biggest bioscience conference in the world (JPM) and more people are buying and the person who was at 2c moves up to current levels. It's worth noting that there are many other biotechs that are doing the same - surely they are not all being 'propped'.

I used to think this was worth MCAP 100-200m with a slim chance of being worth a billion or 6. Now I think it is easily MCAP 200-500m with still a slim chance of being a billion or 6.

In the interest of discloseure I am not the large buyer (I bought 27k today to finish an order from lower prices that was driving me mad being unfilled) but I have bought more above 2c after refreshing my thinking about this stock. At this stage I am trying to stay under 2.5c but as the recent buyer must have discovered - it is a strategy that is not working.