ACT 1: The story starts with Curt visiting his shrink and discussing the recent passing of his wife and his relationship with his son Billy. She tries to convince him to talk about how he feels inside but Curt believes that there is something there that is better left alone. He tells her that he is not crazy and starts walking away towards the exit. The female doctor tells him to stay, to not concede to all his inner demons, and that there are other types of medication. Curt replies that his demons don't respond to medication.

ACT 2: Queens, New York. Peter Parker, his wife, Mary Jane, Big John Anderson, Randy Robertson, Flash Thompson, and many others are playing softball, when Curt shows up to talk to Peter (apparently, Curt knows that Peter is in fact Spider-Man). Peter leaves the gang behind and starts walking with him. Curt tells him that he misses his wife very much and that ever since she has passed away, Billy has just retreated into some kind of adolescent shell, where he sits alone and stares at the wall. He tells Peter that he has come back to the city to work on a cure for cancer, which is what killed his wife, and that he has applied to the Montalbetti Foundation for a research grant. Peter is concerned that Curt may try to use the grant to develop more dodgy reptile serums but Curt reassures him that he only wants to apply his understanding of genetics to the table of cancer research; and that his only competition is Richardson and his rather amateurish treatise on Greene's Syndrome. Peter asks if him if he is still taking his medication to which Curt replies that he does; as he turns away from Peter, his eyes turn into those of the Lizard.

ACT 3: The next day, Curt calls his son, Billy, from the Montalbetti Research Foundation, before heading into a conference room to give his presentation. Curt tells him that he is going to be there the next day, although he had promised Billy to be there yesterday. Billy drops the phone and walks away, leaving his father alone on the line. Minutes later, while waiting to give his presentation, Curt is accosted by none other than Richardson. Richardson tells him that he was serious about an offer he made to him back in Houston and that he could use a mind like Curt's. Richardson hands over his business card and walks away.

ACT 4: Curt finally heads into the conference room where the board of the Foundation is waiting. The Chairman of the board tells him that there must be a misunderstanding for his presence there since the Montalbetti grant for that quarter has been awarded elsewhere. The Chairman and the members of the board all assumed that Connors came to see them to withdraw his application. Confused and perplexed, Curt asks who was awarded the grant. The Chairman replies that it was Richardson and that the money has already been forwarded to Richardson's account so that he could continue his work at his facility; and that there is nothing to be done about it. Enraged, Connors slams his fist on the table and screams at them that the grant was his. As he walks away, he is but a hair away of transforming into his alter ego, the Lizard. Still infuriated, Connors calls up Peter to tell him of the news. Peter tries to calm him down but to no avail; Connor transforms into the Lizard.

ACT 5: While Peter, as Spider-Man, web-slings to the aid of Connors, the Lizard makes his way to Richardson's lab, where he attacks Richardson. A large explosion destroys the lab as Spider-Man web-slings nearby. Our hero heads down towards the lab and finds the Lizard, running away from it. He goes after him and a battle follows. In the midst of the battle, the Lizard falls off a rooftop and into a nearby shed. Spidey looks for the Lizard through the rubble but finds Curt Connors instead. Connors pleads to Spider-Man that it was not his fault. Or was it?