buyback might finish today

Only have another 140,892 shares to buy back. 5 year chart indicates the 40c-60c range provides support, the worsening market is offset somewhat by BTA's better balance sheet and pipeline developments.

I'd suggest the ultimate low will be in this range, 40c would represent another large percentage drop from current prices but a much smaller 25c when comparing to recent trading levels.

The other biotechs in Oz have been hammered. Two main reasons in my mind... access to capital, and the competitive risk/reward opportunities out there. When you can get 10:1 odds on blue chips, why but biotechs...

Quarterly sales are also due very soon... not expecting much here given the lack of news. Are global governments going to be buying billions of dollars of flu drugs given their dire need to bail out financial stocks? Perhaps they will delay orders... 2009 should be a better year for Biota.