You know its getting close to time to buy when Credit Suisse...

You know its getting close to time to buy when Credit Suisse starts spreading 'fear'.

Sometimes its what they don't say that gives the reader the best indication of the analyst's motive.

They failed to mention that MSB have a RMAT for LVAD CHF program, that is a significant omission from Credit Suisse and clearly shows their hand.

RMAT allows MSB to apply for accelerated approval into the LVAD class IV CHF market without the need for a phase 3 trial. The implication is that if MSB's MSC 150IM works for Class IV patients (the worst classification for heart failure), then it more likely than not would work for the significantly larger Class III CHF patients.

I am very interested to know where the CS analyst got his figures from ... they say the LVAD opportunity is only US$120m ... however there are over 250,000 Class IV patients in the US alone.

So unless he believes it will cost US$480 to treat each patient, I suspect he/she is off the mark by a long shot.

Oh and just totally ignore that a partnership could well be on the way for the adult aGVHD program later this year, especially after the pediatric aGVHD program releases its final results mid year and the new drug application is lodged with the FDA.