Ol Pledge is like a dog with a bone when things seem odd (well odd to ol Pledge anyway).
My latest 'hang on a minute' moment comes from SI, as follows:
"Mesoblast Chief Executive Dr. Silviu Itescu thanked outgoing CMO Dr. Fred Grossman for his
important contributions, particularly in regard to the regulatory progress of remestemcel-L in children
with steroid-refractory acute graft versus host disease (SR-aGVHD) and his role in the Company’s
pivot to COVID-19 acute respiratory distress syndrome. Dr. Grossman will continue to provide support
to the Company in an ongoing advisory role."This is the state of play, as I see it:
1. In late 2020, after most of the known P3 failures were known, Fred engaged in interviews with the media and stated that 'whatever, I can't remember' was going to be done in the coming 6-12 months of 2021. Fred and MSB did none of it. We really never heard from Fred again - and we most likely never will.
2. As above, Fred had his wings clipped late 2020/early 2021. What was he doing since then? It's likely he and SI were fighting to keep his job. Don't agree? Show me what he was doing then? Zero progress on all trials during that time. Yes, the Novartis 'thang' was happening but All Cause ARDS was not the only trial in hand.
3. I think someone with clout (shareholders with big numbers most likely) wanted change and kept going for 18 months until a human sacrifice was offered up. Likely it was between Fred and SI, so, bye bye Fred. It's good to be king.
4. I think when Novartis walked, blood would of been demanded.
5. Fred gets retained as a consultant. That reeks of compromise and SI making sure his mate gets looked after and 'respected'....at the cost of shareholders but let's not get sidetracked!!!
6. SI thanks Fred 'particularly' for SR-aGVHD and Covid ARDS. Why those two and no mention of CLPB and CHF?
7. SI is conservative and even more so given he has had his arse handed to him by the FDA and Novartis.
8. The words and statements used by SI here are specific and purposeful. But what purpose?
Glad you asked. Well, I asked, and you are continue to read because your interest has been piqued.
CHF & CLBP are at least another P3 trial + each away (that's a big + that will include partnerships etc etc etc). When/if they take flight, the kudos for those successes will be a long way from Fred. Fred who by then.
That leads me to SR-aGVHD & Covid ARDS. SR-aGVHD might fly without another P3 and as such the success would be Fred's. Covid ARDS, if what SI has said will happen with a partnership etc. as per the last AGM, happens, then there is a good chance that the next P3 gets pulled up early and deployed (one hopes these 'science boffins' have learnt SOMETHING) and as such that success would be Fred's also.
If what I am thinking is correct, Fred was the must have human sacrifice and whoever it was that wanted blood wouldn't accept anything less, and SI has gone to great lengths to look after Fred here. In so doing, SI is telling us that SR-aGVHD and Covid ARDS are that close that Fred will be redeemed in short time. Why does Pledge say this? If I am wrong then SI is a very poor manager as the person that has just taken over the role has had their future work undermined by what SI has done (having Fred as a consultant) and stating what I have quoted above. SI wants the world to know Fred has his fingerprints on these two projects and if too much time elapses then the world will think SI's words are useless and his thought processes are flawed.
SI may very well given us an insight into what is going to happen. And by doing so, he has to be thinking that it will happen quickly as 'the scent of Fred' would have to be still lingering for the about statements to be legitimized!!!!
Here is some other facts to balance the ledger:
1. SI has been wrong many times.
2. SI and Fred could be lovers for all I know. Not that there's anything wrong with that!
3. SI could of been drunk when he wrote/said the above quote.
4. What would I know.
Something to think about. Hopefully we can revisit my thesis in a couple of weeks and celebrate ol Pledge being right. Again. Whilst remaining unpopular with most of his fellow shareholders that he believes are a combination of corrupt and stupid.
No need to thank me.
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