EFTA02718803

From: Boris Nikolic Sent: Friday, August 14, 2015 3:02 PM To: Jeffrey Epstein Subject: FW: AAVL Attachments: disclaim.txt I did not sell a share yet. Will keep and seat on it. The price per share is less what they have on a bank Sent from my Windows Phone From Sent: 8/=FD14/2015 16:30 To: Boris Nikolic Subject: AAVL<=span> Hi Boris, AAVL is trading pre-market at 12.05x12.15 on —100k v=lume. Analysts price targets were generally halved (see BBG grab below) on=news that management won't move forward with phase 2b trails for AVA101. V=ry disappointing to hear they're heading back to the drawing board. BBG Article below as well. Source: Bloomberg Avalanche Bio Drops 14%; Analysts Halve PTs on We= AMD Update 2015-08-14 12:37:45.493 GMT By Cristin Flanagan EFTA_R1_02173658 EFTA02718803 (Bloomberg) -- Avalanche=Biotech drops 14% in pre-mkt trading after announcing post-mkt yday plans =o scrap a planned Phase 2b trial and instead initiate added preclinical st=dies to investigate optimal dose, delivery of AVA-101 and AVA-201 in wet age-related macular degeneration (wet AMD). • "Investors need a clear path forward=94 before getting back in AAVL, Cowen analyst Phil Na=eau writes in note; sees upside for shrs if AAVL gene t=erapies progress * PT cut to $25 vs $55, remain= outperform • "AVA-101 back to drawing board," nex= key catalyst may be decision on therapy in 1H afte= preclinical studies completed, lefferies analyst B=ren Amin writes; may also deprioritize its experimenta c=lor blindness programs " PT to $20 vs $51, remains bu= • AAVL 3 buys, 2 holds, 1 sell; avg PT $19=70: Bloomberg data For Related News and Information: To contact the reporter on this story: Cristin Flanagan in New York at +1.212-617-89=9 or cflanaganl@bloomberg=net <mailto:[email protected]> To contact the editors responsible for this story: Arie Shapira at +1-212-617-1488 or ashapira3@bloom berg. net <mailto:ashapi [email protected]> Cristin Flanagan 2 EFTA_R1_02173659 EFTA02718804