But before those good things happen there is the not-so-small matter of how MSB pays the bills between now and then.
Because, in 3 weeks' time, MSB will have a cash balance of around $35m , according to management guidance for cash consumption for the current quarter and assuming an R&D Tax Incentive of $5.0m is received before the end of the month [*].
Last published current liabilities amounted to $29m.
This means that MSB will - well within a month into the June quarter (i.e., roughly 6 weeks from now) - be at the point where its cash holdings will become insufficient to service the company's current liabilities. This has important implications for the company continuing to do business on a going concern basis, and it starts to introduce issues of counter-party risk.
While some of the recent announcements are milestones that one would expect to be reached for a company like MSB, they have nonetheless causes a modicum of excitement, it is plain to see.
So, against that happy backdrop, I hate to draw attention once again to a sobering issue that is now becoming most pressing, that being the financial situation of the business, and how it funds its forward path.
I am confident to be placed on the record as saying the company will have to either announce some sort of a partnership deal in the coming 4 or 5 weeks, or it will very soon thereafter be forced pick up the phone to make the call to Kentgrove Capital, authorising the commencement of selling of new Mesoblast stock on-market in order to raise funds.
[*] If the R&D Tax Incentive is only received in the June quarter which has mostly been the case historically, then MSB's Cash Balance - to - Current Liabilities will be close to parity sometime in the first few days of April, i.e., in some 20 working days' time.
MSB Price at posting:
$1.99 Sentiment: None Disclosure: Not Held
(20min delay)