Mesoblast Lifts Ryoncil Revenues, Secures Cheaper Credit and Advances Late-Stage Cell Therapy Pipeline

Mesoblast ( (MESO) ) has issued an update.

On January 29, 2026, Mesoblast reported second-quarter FY2026 results for the period ended December 31, 2025, highlighting a sharp pickup in Ryoncil revenues, strengthened liquidity and progress across its late-stage pipeline. Ryoncil gross sales rose to US$35 million, up 60% from the prior quarter, translating into net revenues of US$30 million, while Mesoblast ended the quarter with US$130 million in cash and a reduced net operating cash outflow of US$16 million, positioning the company to lower cash burn over the remainder of the fiscal year. The group also secured a new US$125 million non-dilutive credit line at a fixed 8% rate, initially drawing US$75 million on more favorable terms than its existing debt and planning to secure the full facility against future Temcell royalty streams once current secured borrowings are repaid by July 8, 2026, a move that improves balance sheet flexibility for partnerships and expansion of Ryoncil’s label. Clinically, Mesoblast underscored Ryoncil’s early real-world performance in pediatric SR-aGvHD, reporting that 21 of the first 25 post-launch patients (84%) were alive and able to complete the 28‑day treatment regimen, and confirmed plans to start enrolling sites for a pivotal adult SR-aGvHD trial this quarter to tap a patient population roughly three times larger than the pediatric segment. In parallel, the company received positive feedback from the U.S. Food and Drug Administration on a potential Biologics License Application for rexlemestrocel-L in chronic discogenic low back pain based on Phase 3 data showing favorable pain reduction and opioid-sparing effects, while a confirmatory Phase 3 trial in this indication is nearing full enrollment and commercial manufacturing scale-up is advancing to support future filings in both chronic low back pain and end-stage heart failure with LVADs, collectively reinforcing Mesoblast’s growth prospects in regenerative medicine and its long-term positioning in inflammatory disease markets.

The most recent analyst rating on (MESO) stock is a Hold with a $21.50 price target. To see the full list of analyst forecasts on Mesoblast stock, see the MESO Stock Forecast page.

Spark’s Take on MESO Stock

According to Spark, TipRanks’ AI Analyst, MESO is a Neutral.

Mesoblast’s overall stock score reflects a company with strong growth potential but significant financial challenges. The earnings call provided positive insights into market access and product launches, which are promising for future growth. However, financial performance and valuation concerns weigh down the score, with technical indicators suggesting caution due to overbought conditions.

To see Spark’s full report on MESO stock, click here.

More about Mesoblast

Mesoblast Limited is an Australia-based biotechnology company specializing in allogeneic, off-the-shelf cellular medicines derived from mesenchymal lineage cells to treat severe and life-threatening inflammatory conditions. Its lead FDA-approved product, Ryoncil (remestemcel-L-rknd), targets steroid‑refractory acute graft-versus-host disease (SR-aGvHD) in pediatric patients, while its broader pipeline includes remestemcel-L and rexlemestrocel-L candidates for adult SR-aGvHD, biologic‑resistant inflammatory bowel disease, chronic heart failure and chronic low back pain. The company operates manufacturing and commercial activities across Australia, the United States and Singapore, and maintains partnerships in Japan, Europe and China, supported by an extensive global patent portfolio extending to at least 2044 in major markets.

Average Trading Volume: 210,639

Technical Sentiment Signal: Strong Buy

Current Market Cap: $2.44B

Find detailed analytics on MESO stock on TipRanks’ Stock Analysis page.