One of my great hopes for the Australian biosciences scene is that we get to a stage of market information quality that retail investors can read and use a critical assessment of a biotech stock, and actually take note rather than just get their knickers in a twist. It requires many ecosystem changes but if we want to be as good as the US, it’s ultimately what we need to do. Quality, quality, quality. This site attempts this in an imperfect way, but if you want to see how the “big boys” do it, here is an article about Mesoblast (ASX : MSB) from Seeking Alpha worth reading:
Although I am not quite as negative about MSB as this article, a number of the key defects of the company are highlighted. It also probably warrants a brief pause from Silviu… if he hates shorters now, wait until he gets his NASDAQ debut…
I actually want MSB to succeed because I think that great companies are built as much by vision and ambition, as fundamental science and technology. Let’s face it, if we are relying on Novogen or Anteo to be our next set of flagship companies, we are probably in for a disappointment. But if we are all having a moment of candor with each other, MSB still has a long way to go in the “latter” (i.e. clinical outcomes) department.
I can only hope that something interesting is cooking with Celgene. If not, articles like this will be the beginning of the end of any real shot at NASDAQ and Aussie biotech doesn’t need another Benitec disaster, at least not this year.