Ann: Appendix 4C - quarterly, page-2

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    "Mesoblast is in advanced negotiations with selected pharmaceutical companies with respect to
    potential partnering of certain Tier 1 product candidates. If Mesoblast enters into a binding
    transaction in the next quarter, it expects that one effect of the transaction is that its cash reserves
    are likely to increase. Mesoblast does not make any representation or give any assurance that
    such a binding transaction will be concluded."


    The CEO that cried wolf.
 
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