Hi all
Spoke to a rep from MSB this afternoon to get an update on a few things.
Obviously they are not happy with the share price action, but they are as busy as ever and from an operational perspective - internally they are very happy with the progress being made.
I touched on a few topics namely, 12 month RA results, MNK partnership, funding, RMAT designations and CHF (LVAD) program.
Here are my notes:
12 month RA results
- These have not yet been received by Mesoblast
- The delay is due to the fact that the 12 month data marks the end of the trial (included a 12 month follow up), so there are additional audits/checks done on the data before it is released
- They will be announced when received
- MSB will take these results and test the partnership waters and see if any bite
MNK partnership
- These are still ongoing and very active
- Likely that any partnership deals announced later in the year will be done separately for the aGVHD and lower back pain
- I got the sense that something is expected to happen before the end of September for one of these programs (most likely aGVHD), but a further agreement will be announced later in the piece (2018).
Funding
- 6 months of cash remaining, with several funding sources including US instos, AU instos, Kentgrove, and partnership deals ...
RMAT designations
-Chronic lower back pain and CHF (LVAD) are the two indications most likely going to be submitted first for FDA RMAT consideration
- CHF (LVAD) trial about to complete, with read-out end of 2017. RMAT application most likely to be made following these results.
- Chronic lower back pain trial enrolment due to complete by the end of the year, not sure what will trigger RMAT application (possibly part of partnership discussions)
CHF (LVAD) Program
- Market size for this treatment is looking to be significantly larger than first expected
- Trial due to complete shortly with trial read-out end of this year/early 2018
- RMAT designation would be highly likely if trial results are positive
- The current trial is using 6x move MPCs compared to the initial pilot trial where results were exceptional
- Objective of the program is to inject MPCs into LVAD patients and eventually have the LVADs removed after the heart has healed. When I sat back and thought about this, it kind of blows my mind about how amazing this would be. MSB representative repeated several times how big the market is for this if successful.
Tree shaking definitely occurring on the markets, but I don't believe it has any bearing on how the company is actually performing/progressing with its clinical trials/partnership discussions. I remember the share price was hovering around $1.30-$1.40 when I first saw MSB ... it has since broken $3 twice in 12 months and hit $1 once. A volatile beast, but one thing remains in tact.. the successful trials keep rolling in.
have a great weekend all!
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