Of the announcement, I highlighted three items that are really good. Equity finance will cause a bit of pain but I guess that is a quick way to fund the technology - the question really is by what price and dilution? Japan pathway is the bit that is promising.
Unfortunately, 18 months to complete phase 3 is too long for most hotcopperites people as most has an investment period of 7 days. 30 days is normally considered long-term.
MESOBLAST PROVIDES UPDATE ON GLOBAL HEART FAILURE PROGRAM
Key points:
- Mesoblast regains worldwide rights to cardiovascular field for its cell therapy platform
- Lead product candidate in cardiovascular portfolio is MPC-150-IM for heart failure, with multibillion dollar blockbuster potential and no financial consideration to Teva Pharmaceutical Industries Ltd
- Independent Data Monitoring Committee recommended continuation of the 600-patient heart failure trial without modification after clinical data review of first 175 patients
- Mesoblast aims to complete the Phase 3 heart failure trial, almost 40% recruited, within eighteen months
- To meet the program’s remaining funding requirements, Mesoblast has been offered an equity finance facility
- FDA approval has been obtained to incorporate into the heart failure program a widely-used second catheter delivery system which is likely to result in accelerated recruitment and provide a commercial distribution channel
- Japan conditional approval pathway provides potential early revenue opportunity
- Mesoblast now has unencumbered rights to partner with a leading cardiovascular company with a commitment to heart failure product commercialization
Of the announcement, I highlighted three items that are really...
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