So for those MSB shareholders looking at the share price (and more importantly valuation) of MSB versus its pre-approval levels and understandably scratching their heads, I can only say never forget the stupidity factor of equity markets. Regencell is a Chinese herbal medicine company that made some vague noises about commercialization of traditional Chinese medicine formulas for neurocognitive disorders like ADHD and autism spectrum disorders a couple of years ago.
Its absolutely absurd and an excellent example of the dominance of (stupid) momentum trading algorithms and the like. The company for reasons utterly beyond any rational conception, has very recently ascended to a $10 billion valuation in the last month or two and is yet only a phase 1 company with an R&D spend of my Woollies weekly budget.
For those people doing the sums on the likely treatments, and accrued and cash sales therein, since MSB started treating patients late March (personally I think some of the 'positive cash flows already' calls a little premature), and scratching their heads, this stock example gives no better example of the irrationality of markets (and ergo investors) that would sell Mesoblast at a lowly $2 billion mkt cap (AUD) and buy this crap at $10 billion (USD) :
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(20min delay)