I guess that begs the question as to what value the market has...

I guess that begs the question as to what value the market has placed on all the unproven indications (including those currently in phase 3)? I see the heart failure trial as somewhat of a liability at the moment simply because it is unknown - if it’s a failure it’ll likely tank the share price especially if that happens before approval for GVHD.

A number of people on here have said that GVHD alone justifies the current MC and I don’t doubt that. I imagine there are a number of (probably rightfully) risk averse people who would buy at the current market cap based on GVHD alone but don’t want to risk losing capital with bad trial result.

And I’m sure that once the blast is earning money in the US then bad trial results will be less of a deal breaker. Fingers crossed that happens in 2020 - although by then we will have seen a further two phase 3 read outs