MSB - Chart, page-63

Hi @Lopez

I suspect MSB share price will be hyper-responsive to any evidence of collaboration with the FDA (regardless of the precise form e.g. an IND Amendment consultation, a Pre-BLA meeting, an acceptance for filing etc). It doesn't have to be definitive, and probably doesn't even need to be posiitve. A neutral 'we're still working together' would probably be enough to warrant a response.

The primary reason for the extreme market sensitivity will be, IMO, the incredible number of continuing interdependent irons in the fire - unlike anything else in the market in US or AU.

Consider, for example only, FDA's standing confirmation that the existing COVID ARDS Investigational New Drug (IND) file and future submissions for remestemcel-L in that indication may continue to cross-reference manufacturing information in the BLA for aGVHD (Biologics License Application 125706). https://www.sec.gov/Archives/edgar/data/1345099/000156459021046644/meso-ex991_8.htm

And the tension will only increase, as I see it. Have a good one.