Lisata Therapeutics Inc (LSTA)

[Pyrrhonian]

Hey Luna, in short I think the P3 in melanoma has a good shot at success. I like the tech and the SPA. I also like the community response in awarding grants for its development. I like PCT, which unlike Cognate for NWBO, CLBS shareholders have stake in, being their wholly owned subsidiary. I think the T reg studies have a real uphill battle though and with it CLBS10 will need partnering. But as such is the case it become peripheral and should that partnering come in would be an unanticipated positive. Still, I give partnering 20% change at best.

The problem here is the time it will take to complete the P3 and the dilution that must result between now and then. Though the fact that they are manufacturing in house through PCT and have signed contracts for more significant manufacturing via PCT (such as IMUC P3) that will help offset costs. Basically you've got 2 years before any real substantive data. I think the pps will trade in a broad range between now and then, but begin to really move 2017. I plan to leverage a bit going into P3 readout late 2017. I will be adding over 2016 at opportune moments, especially as others stocks I hold show profits.

GL, and as always with these spec holdings it's best to spread out and not out more than 10% in ones you REALLY like and no more than 5% in the rest.

$.02