Ann: Chairman's Address to Shareholders, page-42

thinking i will await calimmune interim data in the hope we get a pop out of that, then take the bulk
of my investment out of this Co, leaving just enough in bottom drawer should it ever come good.

i understand biotech slow going etc, but the Co does have form in under delivering so i was watching carefully to see if they are going to hold carrot out further again and it's exactly what they've done.

Now i'm watching for the move where they put this into a nosedive, with the assets sold off cheap to private concern in a fire sale, only for it to miraculously come good later and prove very valuable in a later Pharma deal. TT-033 all over again, except on a much bigger scale. As i said they have form, so we need to be vigilant for it. The chairman might be a lawyer but i don't reckon such a move would go down without a complaint or two from retail holders with long memories.