Cato, how helpful of you to highlight another stock in your pursuit of the truth. Perhaps you could ask the CMO of PAR Dr Ravi Krishnan , why his Phase 2B results, which involved stratification of participants into two pain strata, only reported on the results of those in the moderate pain stratum with NRS scores of 4-6 ? (The NRS is an 11 point pain scale reading from 0-11 with 11 being the highest pain or most severe cases. OA has a median NRS pain score of just under 6 so the largest patient population by treatment cost is obviously those suffering with scores higher than 6) The answer given by PAR in a webcast, is that the numbers in the severe pain stratum were “too low to derive conclusive data”. Dr Krishnan blames the “high placebo effect” for the non performance.....”which he argues has led to the demise of several chronic pain studies”. Hmmmmm....pull the other one.
PPS (Pentosan Polysulfate Sodium) is a semi synthetic drug manufactured from beech xylans . As an active ingredient it certainly seems to have superiority over Nerve Growth Factor suppressant based therapies. PPS also has impressive anti inflammatory properties with a good long established safety profile......but Mesoblasts phase 2 results and also those of Progenza might suggest that pain suppression alone could be trumped by stem cell treatments focused on the potential to “disease modify” ...but lets wait for the Mesoblast Phase 3 MPC-06 results before jumping to conclusions on the longer term benefits.
PAR is using a repurposed drug which has been around for years. When people question their use of old IP, analysts of PAR, claim its “moat” , or barrier to entry, is that they have an exclusivity supply agreement with the only FDA approved manufacturer of PPS...but if this treatment took off, I cant see that defence lasting long. As i have pointed out in a previous post, SI has undertaken his own trials with MSCs in combination with PPS years ago ( when many of PARs team worked for Mesoblast) but has not pursued this further to the best of my knowledge. Furthermore, Paradigm’s PPS clinical trial results have been well publicised BEFORE Grunenthal chose to sign with Mesoblast, but they choose to licence MPC 06 instead. The opportunity to use PPS as part of a combination therapy is certainly a possibility. Some of Mesoblasts IP emanates from Adelaide University, which recently published a report showing MPCs could gain improved functionality when combined with low dose PPS..so maybe PAR and MSB shareholders should go easy on each other .
If that is not enough for you, analyse how long PPS lasts for after it is injected in the body compared to MPC 06 which is still showing protective effects for many patients after three years ! ....with just one injection...so lets focus on Mesoblast now.
Please do your own research. Try not to be scared by trolls in Mesoblast. Short positions have accounted for as much as 46% of daily volume in the last 5 days (4 days delay) In my opinion the US stock (MESO NASDAQ) has been aggressively shorted since the Grunenthal announcement to try to stop the share price rising in thin volume. Indeed, in the months leading up to the Grunenthal announcement, there was little more than a cent or two difference between the two quotes. In the last week i have been able to buy MESO at a 5% discount to the MSB quote which is plainly ridiculous and suggests manipulation because historically this differential has rarely existed. Post the refinancing and the IP validation which can be read across the Grunenthal deal, the shares now represent an astonishing, albeit relatively binary, investment opportunity ....in my humble opinion of course. I estimate that the Revascor DREAM CHF trial will now imminently be reaching the required number of MACE events of 540...it is now a question of waiting for verification and collation...expect a data lock in the next 3-6 weeks ? GLA.
(20min delay)