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frrol

04/20/18 5:58 PM

#225384 RE: sox040713 #225367

Otezla timeline helpful, thanks. I tried to find that, couldn't.

Throughout 2017 the company publicly stated P interim results release as a milestone, so if it did receive them without releasing them then it would be problematic if the results were poor and they had subsequently issued shares. I do not believe that to be the case. It is just puzzling and disappointing, as I said before in Q4. Biotech... Looking forward to the final results.