Guess he reads @madamswer! CORRECTION: MESOBLAST Last night’s...

Guess he reads @madamswer!

CORRECTION: MESOBLAST

Last night’s edition calculated Mesoblast’s runway as 18 months based on its most recent Appendix 4C Quarterly Report
Biotech Daily’s vice-president of mathematical computations did not realize that the Appendix 4C for the three months to September 30 was the first following the company’s change to reporting in US dollars.

With a spend of $US28.1 million for the three months to September 30, 2015 and $US77.8 million in cash at that time, Mesoblast had three quarters of cash.
The net proceeds from the Nasdaq initial public offer was $US58.8 million, not the gross proceeds of $A95.8 million used to calculate the reported “secure 18 month runway”.
This means that with $US136.6 million at the September quarter burn rate, Mesoblast had 14.6 months of cash, from September 30, now 13 months, and not 18 months.
The vice-president of mathematical computations and the sub-editor have been dismissed without pay.
Mesoblast fell a further 12.5 cents or 6.8 percent to $1.705 with 2.1 million shares traded