At the end of the previous issue, Harry Osborn became sick from a drug overdose, and the Green Goblin appeared just as Peter tried to get him help. The Green Goblin bursts into Harry and Peter's apartment, ready to kill Peter, claiming he has a weapon that will take away his powers. However, Peter shows the Green Goblin the state the Harry's in, reminding him of his son. The Green Goblin then flies away, not wanting to be reminded of Harry. Peter then manages to get Harry to a hospital, thinking about how the reason Harry started taking drugs was because Mary Jane had rejected him, and started flirting with Peter.
The next day at Empire State University, Peter is approached after class by the drug dealer who sold Harry the drugs in the previous issue. When Peter realizes who it is and threatens him, the dealer calls two thugs to take care of Peter. However, Peter wipes the floor with the two thugs and the dealer, warning them not to sell drugs again.
Meanwhile, at the Daily Bugle, J. Jonah Jameson argues with Robbie over whether or not they should run a story saying that Harry Osborn is in hospital. Jonah is reluctant to print it, since Norman Osborn is one of the Bugle's biggest advertisers. However, Robbie convinces Jonah that by showing that drugs even affect rich people like the Osborns, they can show that drugs are everyone's problem.
Later, Peter changes to his Spider-Man identity and goes looking for the Green Goblin again. He is unexpectedly attacked whilst swinging around, and the Green Goblin reveals a new bomb of his, which explodes into mist, although it seemingly doesn't do anything. A moment later, Spider-Man realizes that the bomb took away his wall crawling abilities and evaporated all of his web fluid. Despite these losses, Peter manages to trick the Goblin into thinking he fell off a roof, and then when the Goblin gets closer, he leaps onto his shoulders, gripping the Goblin's head with his legs, which the Goblin had no defense against earlier. Spider-Man then takes the Goblin to the hospital, where the shock of seeing Harry so sick causes the Goblin to revert back to Norman Osborn.
Later, after Peter has burned the Goblin's costume, he is walking around the streets, when he hears Gwen Stacy calling him. At first he thinks he's imagining it, but then Gwen appears, having returned from England.
note: This issue was not approved by the comics code authority ... it did not print the code in the cover. As with the two preceding issues, the Comics Code Authority refused to issue their stamp of approval, due to Stan Lee writing about drug use in the trilogy, even though he wrote from the perspective of anti- drug use. These three ASM issues represent extremely rare examples of either Silver Age or Bronze Age comics that do not bear the CCA's seal of approval.