Compilation Error Cm9

Install system fs image: out/target/product/pico/system.img
out/target/product/pico/system.img+out/target/product/pico/obj/PACKAGING/recovery_patch_intermediates/recovery_from_boot.p total size is 194352382
Package target files: out/target/product/pico/obj/PACKAGING/target_files_intermediates/cm_pico-target_files-eng.rishik.zip
Package OTA: out/target/product/pico/cm_pico-ota-eng.rishik.zip
device/htc/pico/releasetools/ota_from_target_files -v \
	   -p out/host/linux-x86 \
	   -k build/target/product/security/testkey \
	   --backup=true \
	   --override_device=auto \
	   out/target/product/pico/obj/PACKAGING/target_files_intermediates/cm_pico-target_files-eng.rishik.zip out/target/product/pico/cm_pico-ota-eng.rishik.zip
/bin/bash: device/htc/pico/releasetools/ota_from_target_files: Permission denied
make: *** [out/target/product/pico/cm_pico-ota-eng.rishik.zip] Error 126
rishik@bajaj:~/CM9/android/system$