Ann: Change in substantial holding, page-51

@Kumar1 maybe think it through yourself with these hints:

1. FDA publish briefing notes for the specialist committee they appointed for the ODAC meeting to consider.
2. Share price drops, generally only happens if someone sells shares and someone buys the same shares, it may or may not be the same person or entity doing the selling and buying.
3. Mesoblast publish most of their material prior to the meeting.
4. The ODAC meeting happens, the committee consider all the materials as best they can, including Public testimony and the material plus new independent testimony supplied late by Mesoblast.
5. The ODAC committee vote 9-1 in favour of Mesoblast on the only question they are asked to vote on by the FDA.
6. The share price rises considerably during the next trading sessions.
7. Various law firms fish for class action participants.
8. The share price stabilises at a price generally over $5 on the ASX, well above the price that occurred at the low point described at #2, and rather higher than before the FDA published the briefing notes and not too far below the peak at #6.

Who would presume themselves to know how the specialist committee convened by the FDA would conclude in the days before they met? And that is an interesting point to ponder

Beyond that DYOR, more importantly, reach your own conclusions.