altered classification on the biotech list

On 8 Sept. PEP made this statement:

"Last September’s rights issue to shareholders and its June placement to institutions, together with its initial
payment under the Allergan deal, left Peplin Biotech with $6.4 million in cash at 30 June. This is enough to
secure the company’s future through towards the end of 2004, regardless of the receipt of expected further
milestone payments from Allergan during calendar 2004".

Unfortunately they then sold 6.5 mill shares increasing this total to 71.1 mill. which is not cumbersome.
A small part is to be used acquiring Patents. A director also sold 0.2 mill. shares.

These 2 events have convinced me to suspend PEP from the BIO list and it will join PBT.

Any of these 2 stocks can rejoin upon evidence that they are performing and are careful with their statements. PBT has to improve their PR urgently.

Gerry