PYC, page-4

Look forward to any gleanings from the grapevine in the future. As you say they have finally bitten the bullet and got a decent chunk of funding and I believe the required focus from here. It's been quite a journey to a commercial way of thinking. I have a couple of grapevine sources too and many have looked on PYC with watchful eyes knowing it has the potential that never quite nailed it. From what I understand there is already a change in thinking of a few (pharma & investors) if they have sufficient cash to get them pre-clinical (possible take out in the $200-400m range) which it appears they may. There also seems to be some raised eyebrows at the cancer pilot response and Omomyc response and possible alternatives. Anyway - I wouldn't write off Genetech just yet - one thing I do like about PYC is so far they haven't bowed to the instatiable demand from us HC types for a daily feed of temperature takes from the mice. Solid 6 months ahead with the cash in the bank and most likely a 2-5c valuation at some stage. What happens from there requires a financial milestone IMHO and a big one.