give the board a break, page-5

I think BTA is cheap... but compared to the market it's becoming less so each day. There are just too many opportunities in the market for BTA to be a stand out buy.

If the market was a little more stable then I'd say sure, BTA is a great long term buy. But now the buy back has completed and I see other bio's getting hammered I can only anticipate a collapse in BTA's share price.

The only saving grace is a positive announcement... but I fear this will come too late to stop a slide in price. Biotas liquidity is going to dry up big time unless they can get the news flow moving!