Ann: Conclusion of Genentech Antimicrobial Collaboration, page-17

I was thinking this was a classic reaction to both the price spike and to the CR. Generally everything seems to drop to offer price at least for some time either due to arbitrage or just because it does. Ven without CR it would ha vg e been stunning if sp hadn't dropped back to test 5c for support as it has been resistance to last 3 rises over 5 years or more.

Even if i knew nothing about pyc i would be impressed by the fact last 2 cr's before this were done at no discount , and current one done at well above 5 year average in very short time. And an inside director knows were we stand, has a massive holding in this very illiquid stock , and yet is prepared to take up and underwrite the raise.

.I felt like i knew it was going exactly this way as mr Tribe has the cash it seems to fund the whole thing. In a way it seems he has actually been quite generous in giving all holders full opportunuty to stock up, and if things with vision are what they appear to be he is about to make a lot more money. Im certainly not worried about the drop from 7c. I think current 5.5c level may even be the 50% fibonnachi level retrace of 4.5c to 7c. Either way now we are above 5c and looking like holding there fir the first time in 7 years.