Benitec Biopharma Ltd (BNTC)

[Blane]

Firstly, I greatly appreciate your candor. There is a lot that I agree with you about. I agree that board changes need to be made. I don't know if that is something that needs to be changed now, or around efficacy. The real rubber that meets the road in ability to make a deal will definitely be anticipated at the end of this trial. So, having someone now that can make a deal without any real data other than safety is something I'm not certain about myself. I see other companies making deals, which definitely raises an eyebrow, especially milestone deals prior to any efficacy...so it is fraud rating that that hasn't happened yet.

Many have different views about the IPO being a good or a bad thing. I persoNlky am not sure why they didn't wait until some efficacy was demonstrated. Perhaps an overreaction to a pull back on biotech...? I honestly don't know. Perhaps it was an attempt to gather funds with minimal dilution. I don't know. However, I am not naive enough to assent to what you are saying. So I am watching the company actions and trial very closely. I may even pull out some funds after efficacy, simply because there should be a bump, and that would be a great time to hedge my funds.

I think I'll email Dr Mark Kay, but I wonder what exactly is the issue he finds with the vector. Is is transduction? Because there is a lot of preclinical that shows this doesn't seem to be a problem unless there is some other info you can share. Is it immune response in those that have antibodies already? Well, we haven't actually tested it on those people yet. Additionally, it has been stated that a short course of Corticosteroids would be a simple way to manage any response. Is it shrna expression? Benitec has released that all patients have shown shrna expression in those that have been dosed.

In regards to efficacy, if you listen to the audio, he clearly says, "programs". So I'm wondering if he is just referring to an overall point where a good sense of where Benitec is going will be seen. I personally don't believe he is referring only to the TT-034 trial.

Tribetarna surely is on a lot of shareholders minds, including mine. I hope that some sense can be made, and questions will be raised by shareholders regarding this. I personally want to know why this hit a brick wall. I also believe that remuneration of employees needs to be reigned in until better progress can be made. I feel that holding management accountable this way is not unreasonable.

Like I said, I am keenly aware of both sides, and will voice my concerns in my personal posts as they come, but your points are well taken. I hope the worst is over, and that efficacy or other major news, brings some relief to shareholders. Thanks for your post, and keep this board informed of anything you catch. I know that I would personally appreciate it!