ACT 1: Peter Parker's apartment. After making a quick call to his sister to tell her and his son, Billy, who is temporarily staying there, that he (i.e. Curt) is going to have to stay in New York city for a few more days, Curt Connors (a.k.a. the Lizard) hangs up the phone and starts explaining to Peter Parker (a.k.a. Spider-Man) his most recent transformation into the Lizard and the destruction that he has caused involuntarily. Curt explains how he went to the lab to scare off Richardson, who stole the grant from him. As he arrived there, he confronted the man but things got a little out of hand. They began shouting at each other and Richardson made a move as if he was going to hit him. Richardson threw a punch and as Curt ducked out of harm's way, he caught a flask full of chemicals with his elbow. The chemicals went onto a Bunsen burner and caught fire. The next thing he remembers is being scared and transforming into the Lizard, and running away. Peter is curious as to whether or not Curt has the Lizard aspect under control to which Curt replies that he doesn't know, but that Peter should trust him, that he won't let the Lizard hurt anybody anymore. Peter wants to believe Curt but he first wants to make sure there is no danger of any more hellacious freak-outs so he tells Curt that he knows of a safe place where Curt can stay while he figures a few things out. Curt agrees. Peter heads over to the coat rack to get their jackets. While Peter has his back turned away from Curt, the latter is seen throwing away the pills he was given by Peter to help him control his anger. A few minutes later, they arrive at the "safe place" that Peter was referring to. It is an old abandoned electrical routing station located in the sewers. Peter locks up Connors and heads back to the surface. Connors is seen smiling hypocritically.

ACT 2: Later that morning at the offices of the Daily Bugle. A man named Bob Saunders has in his possession a videotape of the recent battle between Spider-Man and the Lizard and hopes to be able to sell it to J. Jonah Jameson, owner and publisher of the Bugle. He shows JJJ and Robbie Robertson the tape of them fighting. Most importantly, however, is that the tape shows the Lizard transforming back into a person after its fall from a nearby rooftop; except for Spider-Man, no one has ever known that the Lizard is in fact a human with a slight anger management problem. Bob asks JJJ to give him money for the tape but JJJ replies that, as they were watching it, he copied it and that since the tape was obtained illegally, there is nothing to be done about it. JJJ adds that the police are already on their way and that Bob should make like a French soldier and run far away. As they walk away from Bob, JJJ asks Robbie if they have any idea who the Lizard guy really is. Robbie replies that they don't but that Spider-Man does.

ACT 3: Thursday. 4h26 pm. Peter is discussing his latest encounter with the Lizard/Curt Connors with his wife, Mary Jane. Peter doesn't know what to do and whether or not he should trust Connors. Later that day, Spider-Man meets with Detective Neil Garrett. Spidey tells him what he knows about the Lizard and its human persona and suggests he investigates Richardson; Spidey feels that perhaps Curt was telling the truth after all. Our hero web-slings into the night. Minutes later, he arrives at the routing station, where Connors is being held. He informs him that they've made the front pages of the Daily Bugle, although the Lizard's human identity was not revealed. Curt starts to freak out at the news and soon turns into the Lizard. He attacks Spider-Man and renders the latter unconscious. The Lizard's face shown on the last page of the issue is as much human as it is reptilian.