subdued response, page-25

Hi Youngbuck, funny you should mention Prima Biomed. Just a quick n dirty comparison with Biota (excuse my roundings etc).

* Today PRR has a market cap of $243M vs BTA of $253M

* PRR has $15M in cash vs BTA of $80M (plus 'tied' cash of $231M over nxt 5 yrs)

* PRR's furtherest development is at the Phase IIB stage (so lots of risk still to overcome) vs BTA products on the market

* Both PRR and BTA have some exciting market opportunities

Conclusion: Lets chase Mesoblast...