Ann: Mesoblast Completes Placement and Entitlement Offer, page-151

Hey OP,

You make some very good points.

SI and his merry band have saved us from the peril they have created, just in the nick of time, (that they allowed to occur). Lucky we have them......?

"having less than 12 months cash flow funding requirements at any point in time would have been far more reckless and damaging to the share price". Agreed. That's exactly where the company was positioned before the CR (particularly given the recent announcements and associated cost implications that management knew were on the horizon). The same people 'saved' us. Is this a bad early testament bible story?

"I was not expecting Eric Rose to chip in $1.5m…Why now ? some might ask . Why did he not participate in the earlier opportunity ? I think that tells you all you need to know."

Hang on. You've turned into the Demtel man again. SI & Krause purchased at the pre-overhang CR and Krause purchased shares before (at $1-1.40 per share) and Lucky Phil sold down his shares recently for tax reasons (that he purchased at a CR close to 3 years ago at $2.30 per share).

What you are inferring is that Rose has NOW bought in because he is NOW sure. Ergo, SI & Krause were ill-informed/misinformed/punting and Lucky Phil just couldn't handle anymore profits or he's gone rogue or similar......?


It all looks like gamesmanship to me. And the market isn't buying it because of credibility (lack thereof). None of the 'investors' named above are going to be on the streets if this all goes pear shaped.

"Furthermore it is probably easier to find partners with trials underway, patients enrolled and timelines are much closure to approval ."

'Probably'? Really? It looks like partnerships are conditional on FDA approval, doesn't it?

Easier? For the partner yes....for Mesoblast, no. Mesoblast is 0 from 4 P3 FDA trials (no, we can't use GVHD as a win yet, if ever). Your halo is slipping.

"I think we would all be much more disappointed if the Company had delayed commencement of pivotal regulatory trials because we wanted to finesse another 5 cents (AUS $6.1m) by seeking additional shareholder approval to issue more equity. The implied NPV loss to the Company from any further delays to the clinical programme would have been substantial."

At 35c, you are correct. Delivering on the advanced discussions of partnerships with inferred upfront payments that was THE hot topic of the last AGM and would likely have the SP well over $1, then we are talking a significantly different calculation.

MSB are heading up another FDA P3 on their own.



"All the above does not exonerate Mesoblast from its failure to attract new investors to the Company and create proper pricing tension when it is issues shares. The Australian equity market gave a feeble response to the LVAD news when one considers that quadruple the volume traded over in the US at much higher prices when the news was first announced . The bottom line was that the Company needed to secure its finances at all costs. It was the prudent course of action…but Mesoblast badly needs to do a capital markets day to explain recent developments in its pipeline. This is a highly complex sector requiring extensive due diligence…going back to the same small group of existing shareholders with the hat..is not the way to proceed in the future ."

Fair enough. I gift you credit for applying balance to your post (credit from me is next to worthless, so it's a small gift - ha ha).




Given the recent announcements in 2024, how has there not been a partnership?! Mesoblast can not commercialise CLPB and/or CHF on their own? Something/someone isn't right, IMO.



Thanks for your input - great food for thought, as always. As Mesoblast shareholders, we can only guess. Fingers crossed.