Charles C. Duncan

Charles C. Duncan joined JMP Securities LLC in November 2002 as a Managing
Director and Senior Research Analyst covering biotechnology. Prior to joining
JMP, he had served as Director of U.S. Equities and as a biotechnology analyst
at Dresdner Kleinwort Wasserstein Securities from July 2001. He previously spent
a year at Prudential Vector Healthcare Group and its predecessor, Vector
Securities International, as a Senior Vice President following biotechnology and
genomics. He began his equity research careerat Tucker Anthony Cleary Gull,
where he covered drug development and therapeutics from March 1997 through May
2000. He is a member of the Association for Investment Management Research, the
Denver Society of Security Analysts, the American Association for the
Advancement of Science and the Society of Neuroscience. He received a PhD in
Pharmaceutical sciences from the University of Colorado and a BS degree in
Zoology and Molecular Biology from the University of Wisconsin, Madison.