
Synopsis: The cause of Spider-Man’s and Rhino’s rampages – and the mastermind behind it – is revealed! Norman Osborn ain’t the only GOBLIN back in Peter’s so-called life!
The Story
Picking up from the last issue, Spidey—still reeling from being drugged—has discovered that the same substance which triggered Rhino’s heart attack is hidden in a brand of soda. As he investigates the lead, he uncovers that the villain behind it all is the Hobgoblin, a fiend inspired by the original Goblin. Struggling with the lingering effects of the drug, Spider-Man finds himself outmatched in a fight with Hobgoblin, who quickly retreats to target Peter Parker’s friend, Brian Nehring—one of the scientists working on an antidote to the tainted soda. Meanwhile, Itsy Bitsy reappears to battle Spider-Man once more, buying time for her employer’s sinister plan.
Artwork
Pepe Larraz does a solid job with the art in this issue. I particularly enjoyed the light blue color wash used in the flashback scenes during Spider-Man’s drug-induced hallucinations. The panels showing Aunt May comforting a distraught young Peter Parker are especially well handled—subtle, emotional, and effective. I also loved the sequence where Itsy Bitsy clearly gets the better of Spider-Man before moving on to rejoin her Goblin employer.
Overall
The villain has now been revealed, which means there’s only one issue left for this opening story arc to wrap up. So the big question is: how will Spider-Man—still weakened from two serious beatings and ongoing drug-induced hallucinations—manage to solve this mystery, defeat the Hobgoblin, and save his childhood friend?
Overall, this has been a pretty solid story arc—though not particularly groundbreaking in terms of original ideas. Seasoned comic readers will likely have seen similar beats before. That said, the execution has been strong. The artistic portrayal of Spidey’s hallucinations was a highlight, offering both visual flair and a glimpse into a lesser-known part of Peter Parker’s past.

- Covers9.6
- Story9.3
- Artwork10
- Lettering9.4
- Colours10

I think Spidey might call Reed Richards or Curt Connors for help re the tainted soda. And get Miles Morales and Black Cat to help him fight the Hobgoblin.
Damn that would be a bumper issue. I don’t think they will go that far with this arc though.