Well, I'll be the first to admit I was wrong. Note to self - More research. MSB has some serious debt (USD80m) as at 30/9/24 although had USD50m in cash. Cash Flow Report suggests cash burn of say $11m per quarter. Oaktree debt (USD50m @ 9.75%) progressively falling due to 2026. NovaQuest USD30m loan starts falling due on first commercial sale of remestemcel-L for paediatric. Interest rate is a whopping 15% so my guess is this will be either renegotiated or repaid.
Add USD160m (CR) to cash on had of say USD40m and the war chest (say USD 200m) is adequate to fund more research for a long time and renegotiate/repay loans. Lower interest rates should be available from them or I'm sure there are others lining up with offers
My guess is the GG financing facility will now fall away as no longer relevant.
With commercial sales starting to rev up I'd like to think there will be no further CRs that have had massive dilutions for quite a while. Now for SI to bring home the bacon.
BTW after watching SI in the recent video I reckon a better CEO is required for the next chapter. He's probably a good scientist etc but.....
MSB Price at posting:
$2.63 Sentiment: Hold Disclosure: Held
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