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JERZYATP1

07/30/16 3:13 PM

#3165 RE: Regis999 #3153

Thanks for citing and quoting a pertinent filing. I was aware of it, and now do conclude it's the latest info available with reference to scale-up. It is what I
characterized as "vague".
I'm long and pro-ARTH, and not a worry-wort. We can live with the current level of information. If Dr. Norchi provides an
update on scale-up I'd scale him up to A+
from A.