Ann: MSB Q2 Financial Results and Operational Highlights, page-17

Thank you for your update on the CC, it is greatly appreciated.

Let’s be honest, at the moment, we are struggling both from a cash burn perspective and the market’s perception of the company promising but never delivering. Neither of these will improve until we get our first approved product.

In this regard, the comment that stood out for me was made regarding the inspection of the Lonza manufacturing facility in Singapore. Did SI say, or infer, that the facility will be inspected in the near term (6 months or thereabouts)? If so, that told me that our initial BLA was always doomed for failure and the FDA never had any intention to approve by failing to inspect the facility as part of that approval process.

However, those comments now, “ that the inspection of the facility will determine the length of time for possible approval” is a huge tick in the box on where the FDA thoughts are headed. Have I read that correctly?