Ann: Mesoblast Completes Placement and Entitlement Offer, page-36

@col69 I'm not disagreeing with you, but rather also sharing my own view that the result could have been much dire if the overhang went to, say, shorters. The fact that internal people have invested is giving me a signal of confidence at least. Coming from my experience in M&A sector, any strategic partner won't sign off on a deal unless and until they have substantial clarity on where MSB is headed in terms of its commercial viability, which would in turn mean FDA approval. I believe the logical sequence from a partner's perspective, is FDA approval first. Or at least substantial clarity on the chances of getting approval.