Well, they wasted a boat load of money if the plan is to go private. And they'd have to come up with the cash to buy back a lot of shares. I don't think it is realistic. I think it all comes down to these clinical trials. They've been sitting there for a couple years, approved and unstarted. I don't think any traditional IPO money wants to touch this until they get through Phase I/II of a clinical trial. So, hopefully, what we're seeing with the $3 million is enough cash to make it that far. In that case, what I'd hope to see in the coming weeks is some attempt to publicize the commencement of one of these trials. If and when things go well, then maybe then they can seek further funding via an IPO. It would be a feast or famine type of situation for investors. Unfortunately, they are in a "prove it" world of biotechnology. Nobody is giving stem cell startups any benefit of the doubt, particularly with the headwind that Mesoblast encountered with the FDA a few years ago. So hopefully this cash infusion is enough to get the clinical trial ball rolling.
