TA perspective, page-6

ACW is a no brainer. It is the current depressed market and general risk aversion, combined with delay in obtaining FDA approval (which pushes out all key research milestones), that is keeping the sp where it is. It is only a matter of time before Phase II actually commences (e.g., sampling recruitment / data collection), followed by anticipation and speculation about the results as they near that the sp will rise to levels well about where they are now and in the lead up to ann of clinical findings. If phase II results are positive... forget about it!