fda ind, page-62

I think that the arguments on this thread are becoming a little skewed.

Weeks ago I was questioned about my comments that BLT could have a MC equal to that of Alnylam and that we could see a significant increase in the sp by mid year (this was when the IND was on a Nov timetable). I qualified my comments by saying that in order to do so we need good TT-034 results AND we need to see some significant deals being done AND management needs to regain credibility by stopping the over promising and under delivering.

The positive message in this comment has now been lost and the qualification been as by some by some as an unjustified criticism of management.

I still think that we can achieve a significantly higher and sustained share price if the next few months are managed correctly.

Prima facie management has over promised and under delivered so why this should be seen as anything other than fact is hard to fathom.

With regard to doing deals, this seems to be the area of most contention on this thread. I have never been a believer that deals fall from the sky (the odd bluebird being the exception) but I accept that some do think that only scientific results matter. The reason why I am so adamant that a deal needs to happen is because even if a "build in and they will come" strategy was to prevail, no one can tell me at what stage in the build it will be before they come. So what happens if they don't come while a 14 patient Pl/lla trial is only part way through and we have run out of money? What happens if they won't come until a Plll trial is underway? How do we fund getting from now until then?

This is the question that I have been asking an if this is being negative, well so be it, because how this question is answered is the future of this company.

For my part, I would like to draw a line under this discussion. I have said what I think management needs to do to ensure a healthy future for BLT and I will now sit back and see what unfolds. I still think the potential of this company is huge and I think we can all be extremely confident in our scientific capabilities. Like it or not we shareholders are in management's hands and I am positive they are trying their best.