The Bottom Line: The increase in expenditures during the last half-year reflected investment in clinical and regulatory activities, manufacturing, and new product development. The increased spend was in line with expectations given the broadening strategy for clinical development of intravenous product for immunomodulation as MSB gains greater understanding of the broad mechanisms of action (MOA) of its unique MPCs. Exceptional cash position!
Mesoblast ADR closed at $36.58 on 2/8/13 whose price has been “traveling” between $32.35 and $38.39 since 2/1/13 and played as low as $27.49 since 1/2/13. The 50 day moving average is $29.94 while the 200 day average is $31.52. MSB could move 1-3% based on earnings.