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Mesoblast Limited ( (AU:MSB) ) has issued an update.
Mesoblast Limited reported a significant 66% increase in revenue for its product Ryoncil, reaching US$21.9 million in the second quarter post-launch. This growth is attributed to the adoption of Ryoncil for treating pediatric steroid-refractory acute graft-versus-host disease, supported by reimbursement from commercial and government payers. The recent assignment of a permanent J-Code by the Centers for Medicare and Medicaid Services is expected to further enhance product adoption. This development strengthens Mesoblast’s position in the cellular medicine industry and indicates positive implications for stakeholders, highlighting the company’s potential for continued growth and market expansion.
The most recent analyst rating on (AU:MSB) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
More about Mesoblast Limited
Mesoblast Limited is a global leader in developing allogeneic cellular medicines for treating severe inflammatory conditions. The company specializes in mesenchymal lineage cell therapy technology, which releases anti-inflammatory factors to modulate immune responses. Mesoblast’s primary product, Ryoncil, is the first FDA-approved mesenchymal stromal cell therapy for pediatric steroid-refractory acute graft-versus-host disease. The company is also developing therapies for other inflammatory diseases and has established commercial partnerships in Japan, Europe, and China.
Average Trading Volume: 4,932,683
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$3.53B
Find detailed analytics on MSB stock on TipRanks’ Stock Analysis page.