Ann: Update on Novartis Agreement, page-536

One of the "positives" in all of this for MSB, is that NVS have gone now and therefore NOT cost MSB time! It is my understanding, our original NIH sponsored ARDS trial will soon read out the 12mth follow-up data and MSB will be clear to lodge the paperwork to initate another trial.  No waiting around for 6mths or so, pending a fnal decision from NVS....their gone and MSB is free to advance to its own beat.

I'd not complain IF MSB [perhaps with a contribution from the NIH] seeks to finance the next Covid ARDS trial in house and wait for any potential paternship/contract management and distribution until AFTER it has some additional hard data confirming treatment benefit for ARDS. We can partner for "x" in the short-term or "YYY" in the little longer-term given a positive read-out.

We seem to do better when rowing our OWN boat eg., driving home the heart trial AFTER Teva walked!

In summary:

No time lost to NVS
Consider keeping the next ARDS trial in-house....where there's a will, there's a way!

Ps. I expect to one day hear from NVS again......  

A frustrating but NOT end-of-the-world day.