Matters external to blt. Investors who went to farout on a limb...

Matters external to blt. Investors who went to far
out on a limb not covering the current poor market
being forced to offload their speculative plays
in a rearguard action.

ddRNAi, gene therapy, and the field of RNAi, have
kicked some important goals in the very short time
since some big pharma withdrew their cumbersome,
expensive in-house R&D groups.

Up until Benitec secured the IP that mattered last year,
the therapeutic programme was very slow. It has picked
up markedly in last few months. Trending that activity is
what we need to be doing - not the sp. that will follow.

Be led by the what's happening on the ground,
not by a sp which is currently subject to matters
external and, in the long term, immaterial. That's
like driving whilst only looking in the rear view mirror.