Guys is a rare class act for dev. biotech mngt.

Very forthcoming and upbeat about Qnexa and the interest of numerous BPs in partnering. Many pharmaceutical corperations have expressed serious interest..not just 2 or 3 BPs. He expressed that partnering negotiations and finalization is a long process and he did not expect any significant announcement this year.

As far as the 'reformulation' subject brought up yesterday...
basically a bunch of baloney. In trials, the company uses inert fillers so as to have all trial dosages take up the same volume. Routinely, these are eliminated in actual commercial production...or that is often the case. A bio-equivalency study is done to assure the FDA that the filler dilution has no effect on efficacy. If there were any problem with the FDA as regards this...they could just as easily incorporate these fillers into the product for commercial consumption, just exactly as used in the trials. Sounds like standard operating procedure.

European BP is just as interested as other global players in acquiring commercial rights to Qnexa; there is no problem with phentermine for Europe and they have covered all their bases in talks with European regulators.

Tim is aware of the intense short activity and considers VVUS a great buy at these levels.

My general impression from what he said is that a partnership announcement likely won't happen until somewhere near FDA decision date...again, my impression is thus.

March or even June options might be a better bet than January options if one were hoping to capitalize on that specific partnership catalyst.

Best2Uall

**Again, very impressed with T.Morris...if he is a reflection of the general caliber of VVUS mngt., then our investments are likely in good shareholder friendly hands.