no more gut feelings, page-14

Hi Bripoz

Whilst your recommended plan of attack may have merit when dealing with companies that suffer from "leaky boat syndrome", I would have to say it may not work here with VLA.

When the market was eagerly awaiting the results of Phase I late stage melanoma trial of CAVATAK, back in Jan of last year, there was no lead up to it days before. The sp was fairly flat and certainly no increase in volume prior to day of ann. The 4 to 12 cents trebling of sp happened all on the same day of the ann. No warning.... no gradual build up in volume... no build up in sp... just "bang" and up she went.

I am not saying that it will happen this way again, or that the basis of your recommendation is wrong.... I am simply making an observation (based on history) and recommending that we keep an open mind to any scenario being the case.

No one knows for certain what tack the boat will take (leaky or not). I just hope that we don't get sea-sick while we wait!