Mesoblast, An Aussie Biotech Cooking Up A Turkey For American Investors, page-23

What one commentator in Alpha said:

"This is the kind of report you would expect from someone who is shorting the stock and is about to lose their pants."

What baffles me is why the Japanese regulator would even bother to approve a treatment aGVHD that is supposedly ineffective. Plus the FDA followed suit.

Approval is conditional on efficacy being proven. Who writes this stuff? It's not even a serious attempt at fiction.

There is such an aggressive take on MSB which is breathtaking in audacity and inaccuracies, worse than Macbank (and that's saying something!).

They say clinical trial data has been data-mined, but they seem to take no account of the fact that in the safety trials and stage 2, different doses were given to work out efficacy. If that's data mining, they need to be introduced to fast tracking...which is what the FDA did with aGVHD and has agreed to look at halfway through the stage 3 clinical trials of spinal disk and congestive heart failure therapies. None of this seems to have filtered their cranial area. It reads like an angry rant.

The main thing is the issue is underwritten and has Morgan Stanley & ors involved. More savvy investors will take a closer look at this and not be swayed by such a weird 'report'. It doesn't even bother to try to be even handed.