le tour de biota, page-14

We know that the market can be very irrational, but ultimately, it won't be able to deny the Biota revenue, even though we holders are expecting some future revenue to start to be built into the price already. When one compares with MSB, it doesn't appear to make sense, but momentum is an all important thing.

Biota's opportunity for momentum came during the height of the H1N1 pandemic when we were hoping a ROW licensing deal would be done with LANI - this would have been an important psychological strength for the market, but unfortunately it did not happen at the time.

Now, we have a far better opportunity for ROW, but the market is not yet excited - it does not see extra cash in the Biota pockets as a result of the BARDA funding.

With BTA, I feel we will only start to see some serious rationality as we get close to LANI completion of trials. To me, that is when commonsense will ultimately prevail...

...unless PC pulls a rabbit out of his hat in the meantime...

..the one big plus for us is that being kept "in the dark", we may get a pleasant surprise on some deal/s around other products in the pipeline.

In order to realise handsome profits, IMO we are going to have to remain medium/long termers.