$46 mill loss, page-4

I agree with your comments agent cooper. Investing in companies like PXS can be a sobering experience.

Cystic Fibrosis is an aweful condition. There is no cure. Current treatment modalities are of limited benefit. Whilst the FDA is driven by hard science it also understands that science is not always clear cut. It seems to me that both common sense and common humanity demand that the treatment developed by PXS be approved. Of course the affairs of man show that common sense and common humanity do not always prevail. That of course is one of a number of risks investors in PXS face.

I note the editor of Biotech Daily has revealed he purchased shares in PXS on the announcement of the CF Phase 111 results. I can only speculate why.

In my veiw an investment in PXS is speculative but not wildly so.