So nobody's short, but no indication they've been buying either,...

So nobody's short, but no indication they've been buying either, and price has risen from $1.20 to $1.50. Looking forward to hearing when they finally join the party and go long, then we can all party like it's 1999! Although, to be fair, I don't think this is really her kind of stock.
MSB's debt raising means the company has secured its future for the next 12 months, so no need for another expensive equity raising, no need for any more dilution as long as a partnering deal can be done within this timeframe, and they've got plenty of headroom now to be able to take time to negotiate a good deal.
If a partnering deal can't be done, it probably means the technology is worthless, but if a deal can be done the valuation by Bell Potter, Cantor Fitzgerald et al will be upgraded (as they discount their true valuation to allow for the uncertainty - some of the discount factors applied are as high as 80% for indications that are still a long way from commercialisation - i.e. those indications' valuations will rise by 5x as their risk reduces). That means there's a 100% downside risk if stem cells don't work (at least to the satisfaction of the FDA) and probably eventually more than 5x upside from current price if stem cells do in fact solve these fatal and expensive diseases.
That, to me, is a great risk/reward tradeoff and building a portfolio of stocks with these characteristics is a winning strategy - it's not how madam's process works, but I suspect she would be better off staying away from high risk/return strategies - not wanting to knock madam, as we all have different risk preferences, and there are those who prefer short duration bonds or cash to avoid the risks inherent in this type of equity - and that's what makes a market!