Ann: Update on BLA for Graft Versus Host Disease, page-283

This will take years to get back to resubmission
FDA  will take until March next year to agree to trial meanwhile everything else will be on hold
So for GVHD my take is 2-3 years minimum before resubmission
They need cash to run CLBP so they will have to come up with some way to fund that (2-3 years before FDA approves)
CHF needs a trial so needs cash for that (5-7 years for FDA approval)
…..Houston we have a problem
Worst thing is I am still a believer
Keynes was right about the stock market in 1930’s….applies to MSB now
…..Markets can remain irrational longer than you can remain solvent”.

They have to survive without enough capital …it’s going to be very tough
Very sad