Noted on BOT’s launch, and in fact it appears they included sales from Jan25 to Jun25, and it was A$25m. So the comparison is 6 months A$25m for BOT and 3 months A$20m for MSB.
if we looked at BOT’s first 3 months Jan-Mar, they generated A$5m.
That may have been a bit underwhelming for a company that had a market cap of $0.8-0.9bn, which could explain their collapse.
For MSB, the value actually lies in its near and medium term pipeline (heart disease, chronic lower back pain, IBD) and many were betting that MSB would not be able to fund its development without more capital raises.
In my view, the 34% gain in Mesoblast is also due to the marker repricing the odds of a near term capital raise. If Mesoblast can become cash flow positive by the end of this year, then it will put this to bed.
All good on the question, just make sure you disclose all that when RAC launches its first quarter sales
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