We also have the Oaktree loan drawdown , with unknown covenant.
If I was guessing I would say it is highly likely to be linked with approval, or less likely BLA acceptance.
Why approval? Because the new loan drawdown by date is now end of Q3 2023. That would give mesoblast to the end of Q1 23 to submit BLA, without needing to renegotiate the drawdown again, and is kind of in line with potential H1 approval. If they submit in Q1, potentially it could be approved in Q2 or if not definatley Q3 prior to Loan drawdown.
Either way... I think if things are going well we should hear BLA by March
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