Mesoblast Rides Ryoncil Launch to Revenue Surge and Advances Late-Stage Cell Therapy Pipeline

Mesoblast Limited ( (AU:MSB) ) has issued an update.

Mesoblast reported a sharp jump in first-half fiscal 2026 revenue to US$51.3 million, driven by the successful U.S. commercial launch of Ryoncil, which generated US$48.7 million in revenue and strong gross profit. While the company still posted a net loss of US$40.2 million, cash on hand reached US$130 million, supported by a new US$125 million non-dilutive credit facility, positioning Mesoblast to reduce net cash burn and fund ongoing R&D and manufacturing.

Commercial uptake of Ryoncil is accelerating, with 49 transplant centers onboarded toward a 64-center target and reimbursement coverage now extending to 280 million U.S. lives, aided by a dedicated CMS J-Code that has boosted usage. Mesoblast is also pursuing lifecycle expansion of Ryoncil into larger adult SR-aGvHD populations and advancing late-stage development of rexlemestrocel-L in chronic low back pain and end-stage chronic heart failure, where it plans near-term U.S. regulatory filings that could create multiple new revenue streams and reinforce its position in inflammatory disease cell therapies.

The most recent analyst rating on (AU:MSB) stock is a Hold with a A$2.50 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 biotechnology company specializing in allogeneic, off-the-shelf cellular medicines targeting severe and life-threatening inflammatory diseases. Its primary products include Ryoncil, recently launched in the U.S. for steroid-refractory acute graft versus host disease, and second-generation cell therapy candidate rexlemestrocel-L for chronic low back pain and chronic heart failure.

Average Trading Volume: 3,790,800

Technical Sentiment Signal: Buy

Current Market Cap: A$2.97B

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