Ann: Update on Heart Failure Trial and Funding of Operations-MSB.AX, page-110

They can't be over a barrel. This is why.

Over the next 12 months and to date:
The progress already made in getting to market with aGVHD in Japan and now the US.
The progress made in improving results from targetted delivery of stem cells to the damaged areas through the new methodology of mapping and catheter.
The improved likelihood of reaching both overwhelming efficacy targets of the FDA and convincing future partners of the efficacy of the science.

There is an opportunity cost in Celgene (or other big pharmas) in driving MSB to the wall in this 12 months window of opportunity. Nobody gains in that situation.

Because all the experts in here are focussed on win/lose scenarios they cannot imagine win/win ones.

MSB can be expected to manage to negotiate favourable deals within 12 months (make that MUCH earlier) which includes up front payments.

Arguing otherwise defies logic and the realities on the ground.