Valuation, page-19

" Everyone has a price, longevity requires massive time and money, connections and persistence to play the game on your own. Its not impossible but how likely is it?"

Yes, a bird in the hand etc. But where exactly is this alleged bird? I'm not seeing it.

From a MSB perspective, it's far from impossible that the corporation will continue on track - I can actually see the demonstrated persistence, the time commitment, the funding and the connections. That's what's happening, in fact. The CEO clearly intends to get the company to breakeven. That seems to be the priority objective before considering anything else & I too want to see the company negotiate anything from a position of strength. That will IMO require a regulatory approval that we don't quite have yet. Selling or licensing away anything this close to BLA resubmission, especially in the absence of public offers, Mesoblast would only be trading against itself - negotiating itself down - not a good look IME.

Let's see some competitive offers after an approval, and we can have this discussion again in 3 or 4 months time.

Cheers