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Resumption of Share repurchase

Biota were expected to have about $50M cash in the bank and no debt as at June 30. With the $20M settlement they may have an additional $20M in cash to play with. I guess the actual amount will depend on how actual cash flows compare with the forecast cash flows.

Assuming it does have significant cash on hand, I would expect BTA to resume on market purchase of its shares as per previous disclosed repurchase plan. As at 15 May 2008 there was still 6.6M shares to be repurchased from the last purchase plan. At a price of $0.72, the 6.6M shares would only cost $4.75M.

Regards

SP