I'm not sure what they were trying to say but it did not sound positive for PSI-7977. On the Yahoo VRUS web page, recent headlines include a Seeking Alpha article about GILD being undervalued. It says "...any concerns about long-term HIV treatment stagnation are offset by all the optimism surrounding 7977. One issue for 7977, however, is that the company is overly focused on Electron GT1 readout in April 2012 as a way to de-risk". You may recall the Electron study was designed to determine the impact of reducing the total number of injections of interferon that would be necessary to retain the same high SVR in GT1 patients. My guess is the risk they are talking about is the failure of PSI-7977/ribavrin to cure GT1 patients. I believe interferon injections are their backup plan if PSI-7977/ribavirin fails in GT1 patients. Plan B could be they add some interferon injections to the PSI-7977/ribavirin regimen to treat the GT1's. But then they are no better, and probably worse, at treating GT1's compared to the Incivek regimens. And remember, Vertex is continually improving its Incivek regimen with shorter durations of interferon injections. My opinion is that GILD made a colossal mistake paying $11 billion for a company that has not demonstrated an effective oral cure for HCV GT1 in any study. And remember, curing the more difficult to treat genotype 1 HCV cases (which represent about 75% of all HCV cases in the U.S.) is where the money is.