Outstanding brief Moreforme. In addition to your comments this...

Outstanding brief Moreforme.
In addition to your comments this is my run-down:

(1) Crohn's disease - MSB there going to do it again..just like Knee OA ( the forgotten application announced on 1/4/16), it looks like Crohn's  application (inflammatory bowel disease) is back with great energy. As expressed by SI , when referring to RA & Crohn's applications ..."these are two very important areas that we're in substantial discussions with various parties"...

Crohn's disease (as we all know) was 1 of the 4 applications discussed with Celgene under ROFR (together with aGVHD) ...so I believe SI when he says ..."we continue to be in dialogue with Celgene"..It makes commercial sense - even more so now that RA is starting to flex its muscle.

I'm thinking we could get an update on the P3 trial (last updated May 2015) https://clinicaltrials.gov/ct2/show/NCT00482092term=Prochymal Crohns Disease&rank=5

(2) Japan and MPC applications.
As SI noted CHF application is as good a candidate as any to expand Japan opportunity.
Teva have recently (1/4/16) expanded there business in Japan with Takeda (mainly generics). ...the point being however is that Teva are doing business in Japan so b/w MSB/Teva , there is a strong knowledge base in the worlds second largest health mkt.

(3) Non Dilutive capital... mmm -- charming words.

Fun times ahead and lots to look forward to.
GLTAH.