Ann: Mesoblast Phase 3 Chronic Low Back Pain Results, page-571

Hi yelrom,

Yes, an analogy referencing the primary endpoint failures of MSB's last four trials.

These days, all school exams are prefaced with a marking criteria that is published well in advance, when the students are actually studying the text.

This criteria sets out what is mandatory for a pass mark and what is expected to be included for each subsequent band of marks above a pass.

We were told all along, that each of these trial designs involved active participation of the FDA, to ensure that the criteria (for a pass) was crystal clear and achievable.

Even though the FDA repeatedly stated that the "exam" would be about Macbeth, (required, immovable, primary endpoints), we set our trials so that the endpoints were almost impossible to achieve. CHF being the most obvious example.

So, rather than answer the mandatory question on Macbeth, we ducked and dived, and said " yeh, nah, but we know more about Hamlet, (secondary endpoints) (still Shakespeare though), so that will do"

Well guess what?

It didn't do, four times in a row.

Lie to me once, shame on you.
Lie to me twice, shame on me.

The fact is, we failed the exam four times in six months. All the spin on here won't change the fact, that despite all the altruism, Mesoblast is still an investment, and in the over eleven years I've been a holder, it's proven to be a poor one.