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Mesoblast Limited
(Sydney:MSB)
Mesoblast Limited (MSB) vs. iShares MSCI Australia ETF (EWA)
Mesoblast Limited Business Overview & Revenue Model
Mesoblast Limited Earnings Call Summary
Mesoblast Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.20M | 17.20M | 5.90M | 7.50M | 10.21M | 7.46M |
| Gross Profit | -35.86M | 12.07M | -35.17M | -47.42M | -53.36M | -78.28M |
| EBITDA | -58.18M | -73.66M | -56.08M | -58.55M | -76.57M | -84.65M |
| Net Income | -102.14M | -102.14M | -87.96M | -81.89M | -91.35M | -98.81M |
Balance Sheet | ||||||
| Total Assets | 784.68M | 784.68M | 669.15M | 669.41M | 662.14M | 744.72M |
| Cash, Cash Equivalents and Short-Term Investments | 161.16M | 161.16M | 62.56M | 70.92M | 60.03M | 136.88M |
| Total Debt | 128.16M | 128.16M | 118.92M | 116.50M | 106.91M | 105.50M |
| Total Liabilities | 187.24M | 187.24M | 188.80M | 167.58M | 165.10M | 163.32M |
| Stockholders Equity | 597.44M | 597.44M | 480.36M | 501.84M | 497.04M | 581.40M |
Cash Flow | ||||||
| Free Cash Flow | -50.87M | -50.68M | -48.79M | -63.58M | -66.01M | -108.33M |
| Operating Cash Flow | -33.34M | -49.95M | -48.46M | -63.27M | -65.78M | -106.68M |
| Investing Cash Flow | 120.00K | 120.00K | -97.00K | -194.00K | -232.00K | -1.65M |
| Financing Cash Flow | 147.34M | 147.34M | 40.25M | 74.50M | -9.87M | 114.47M |
Mesoblast Limited Technical Analysis
Mesoblast Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$637.05M | 17.57 | 15.90% | 0.38% | 7.76% | 1.55% | |
71 Outperform | AU$2.42B | 16.39 | 54.79% | ― | 12.35% | 26.73% | |
55 Neutral | AU$3.40B | -20.21 | -18.95% | ― | 198.58% | 3.97% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | AU$92.53M | -9.67 | -49.72% | ― | ― | 10.78% | |
49 Neutral | AU$648.44M | -10.43 | -35.86% | ― | ― | -19.21% | |
41 Neutral | AU$271.31M | -27.86 | -89.70% | ― | 42.05% | -0.84% |
Mesoblast Limited Corporate Events
Mesoblast has disclosed a change in director Lyn Cobley’s shareholding, with the board member purchasing 30,000 ordinary shares on-market at A$3.20 per share, a total consideration of A$96,000. Following the transaction, Cobley holds 30,000 shares directly and maintains an existing indirect holding of 33,000 shares, signalling increased personal financial commitment to the company and potentially reinforcing market confidence in Mesoblast’s outlook among investors and other stakeholders.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast reported gross revenue of US$35.1 million from Ryoncil sales in the quarter ended 31 December 2025, a 60% increase over the prior quarter, underscoring rapid uptake of the first FDA-approved mesenchymal stromal cell therapy for pediatric steroid-refractory acute graft-versus-host disease. Supported by a new US$125 million, five-year interest-only facility from its largest shareholder that refinanced more expensive debt and released key assets from security interests, the company has strengthened its balance sheet and lowered its cost of capital, positioning it to pursue strategic partnerships, expand Ryoncil into the larger adult SR-aGvHD market and other inflammatory indications, and continue development of its broader pipeline.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast has disclosed a change in director Gregory George’s interests following the lapse of 2.4 million warrants to acquire ordinary shares or ADSs, which expired on 6 January 2026 in line with their terms. The warrants lapsed at no value because the company did not draw down on a previously approved convertible note facility, leaving George with a reduced number of warrants but unchanged holdings in ordinary shares and ADSs; the notice underscores a modest simplification of his derivative exposure without an immediate cash impact on the company or dilution for existing shareholders.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited has announced the cessation of 3,000,000 MSBAB warrants after the conditional rights attached to these securities lapsed because their conditions were not, or could no longer be, satisfied. The lapse reduces the company’s pool of potential equity-linked instruments but does not involve an immediate capital raising or cash transaction, representing an adjustment to its capital structure rather than an operational change.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited has overhauled its board leadership as it transitions further into a revenue‑generating commercial phase following its first U.S. FDA approval and successful product launch. Long‑standing chair Jane Bell will step down from the chair role but remain a non‑executive director, with current director Philip Facchina appointed non‑executive chair and Lyn Cobley taking over as chair of the Audit and Risk Committee, while William Burns continues as vice‑chair and chair of the Nomination and Remuneration Committee. The board says the refresh, stemming from a periodic review of its composition and governance structure, is aimed at sustaining a high‑performing, engaged leadership with the right mix of expertise and fresh perspectives, and signals an intention to deepen U.S. commercial expertise over the next year to support the company’s commercialization drive and enhance shareholder value.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited has notified the market that 10,228,239 ordinary shares currently subject to voluntary escrow arrangements will be released on 8 January 2026, in line with ASX Listing Rule 3.10A disclosure requirements. The impending release of these escrowed shares will increase the tradable free float of Mesoblast’s stock, which may influence liquidity and shareholding dynamics for existing and prospective investors.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited has notified the ASX of a proposed issue of up to 3,225,756 new warrants, to be created as a new class of securities, with a planned issue date of 23 December 2026. The warrant placement reflects an additional capital-raising avenue for the company and may provide future funding flexibility, potentially supporting its ongoing product development and commercialization activities, while modestly diluting existing shareholders if the warrants are exercised.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast has refinanced its balance sheet by fully retiring its senior secured loan from Oaktree Capital and partially repaying its subordinated royalty facility from NovaQuest, using US$75 million drawn from a new five‑year credit line provided by major shareholder and director Dr Gregory George, with an additional US$50 million available at the company’s option until June 30, 2026. The new facility, carrying a fixed 8% interest rate, an interest‑only structure, no early repayment or exit fees, and no claims over the company’s material assets or intellectual property, is expected to materially lower Mesoblast’s cost of capital and improve financial flexibility, with the debt ultimately to be secured only against Temcell royalty streams; in return, Dr George will receive five‑year warrants over approximately 323,000 ADSs at a 15% premium to the recent trading average, underscoring insider support and potentially enhancing Mesoblast’s capacity to pursue strategic partnerships and commercialization of its cell therapy portfolio.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast director Gregory George has updated the market on a change in his relevant interests in the company’s securities, primarily through the acquisition of 4 million warrants to acquire ordinary shares (or an equivalent number of ADSs) issued as part of the fee structure for a convertible note facility previously approved by shareholders. The filing also notes the administrative transmutation of some of George’s directly and indirectly held ordinary shares into ADSs on a 10-to-1 basis without altering his underlying economic interest, underscoring his substantial and continuing exposure to Mesoblast’s equity and the alignment of board incentives with shareholder outcomes.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited has announced the issuance of 5,000,000 warrants to investors as part of a convertible note subscription agreement, allowing for the potential raising of up to US$50 million. This move, following shareholder approval, aims to provide the company with financial flexibility to repay or reduce existing loans and support general working capital needs, potentially impacting its financial stability and market positioning.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
An independent study presented at the American Society of Hematology Annual Meeting concluded that Mesoblast’s remestemcel-L shows superior clinical outcomes compared to ruxolitinib for treating steroid-refractory acute graft versus host disease (SR-aGvHD). The study, involving 2,732 patients, highlighted remestemcel-L’s superior outcomes in complete and overall remission, as well as differences in adverse events. This finding reinforces Mesoblast’s position in the cellular medicine industry and could have significant implications for its market presence and stakeholders.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited has announced that State Street Corporation and its subsidiaries have ceased to be substantial holders in the company as of December 8, 2025. This change in substantial holding could impact Mesoblast’s shareholder structure and influence within the market, potentially affecting the company’s strategic decisions and stakeholder interests.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited announced its participation at the Piper Sandler 37th Annual Healthcare Conference in New York, where CEO Silviu Itescu will engage in a fireside chat. This participation underscores Mesoblast’s active engagement with the healthcare investment community and highlights its strategic focus on expanding the reach of its innovative cellular therapies. The company’s presence at such events is crucial for maintaining its industry positioning and fostering relationships with stakeholders, potentially impacting its market influence and growth trajectory.
The most recent analyst rating on (AU:MSB) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited, in collaboration with the NIH-funded Blood and Marrow Transplant Clinical Trials Network, is initiating a pivotal trial for Ryoncil® as a first-line treatment for adults with severe acute graft versus host disease (aGvHD) who are refractory to steroids. This trial aims to address the high non-responsiveness and mortality rates in these patients, offering a potentially life-saving treatment that has shown promising survival rates in previous studies. The trial represents a significant market opportunity, expanding the use of Ryoncil® beyond the pediatric population and addressing a major unmet medical need.
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.
Mesoblast Limited has appointed James M. O’Brien as its new Chief Financial Officer, a strategic move as the company transitions to a fully integrated commercial organization. O’Brien’s extensive experience in financial management within the life sciences and pharmaceutical industries is expected to bolster Mesoblast’s financial leadership, aiding in the commercialization of its products and potential expansion into new markets.
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.
Mesoblast Limited announced a scheduled meeting with the FDA to discuss data from its Phase 3 study of rexlemestrocel-L for opioid reduction in chronic low back pain patients. The study showed significant opioid cessation results, highlighting the potential impact of rexlemestrocel-L as a non-opioid treatment option amid the ongoing opioid crisis in the US. The FDA has recognized the importance of developing non-opioid treatments, and Mesoblast is actively recruiting for a confirmatory Phase 3 trial. The outcome of these discussions could significantly influence Mesoblast’s positioning in the market and offer a promising solution for patients with chronic low back pain.
The most recent analyst rating on (AU:MSB) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited announced a change in the director’s interest, with William Burns exercising options to acquire 120,000 ordinary shares, increasing his total holdings to 226,250 shares. This transaction, valued at A$157,200, reflects strategic financial management and potentially strengthens the director’s commitment to the company’s future growth.
The most recent analyst rating on (AU:MSB) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited has released its Annual Report for 2025, highlighting its commitment to corporate governance and ethical management. The report, approved by the Board of Directors, outlines the company’s governance framework, emphasizing its dedication to transparency and accountability, which is crucial for maintaining stakeholder trust and industry leadership.
The most recent analyst rating on (AU:MSB) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited has announced its Annual General Meeting (AGM) scheduled for November 25, 2025, in Melbourne. The company encourages shareholders to attend in person or view the meeting online. Shareholders can vote in person or by proxy and are invited to submit questions in advance. This AGM is a crucial event for stakeholders to engage with the company’s management and discuss its performance and strategic direction.
The most recent analyst rating on (AU:MSB) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited has released its corporate governance statement for the financial year ending June 30, 2025, which is available on their website. The statement outlines the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations, highlighting their commitment to transparency and accountability in management and oversight. This release is significant as it reinforces Mesoblast’s dedication to maintaining high governance standards, potentially impacting investor confidence and stakeholder trust.
The most recent analyst rating on (AU:MSB) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited reported a significant 69% increase in net revenues for its product Ryoncil® in the second quarter following its launch, driven by increased physician adoption and reimbursement from commercial and government payers. The assignment of a permanent J-Code by the Centers for Medicare and Medicaid Services is expected to further enhance product adoption. The company has onboarded 40 transplant centers and expanded coverage to over 260 million US lives. Mesoblast is also planning a pivotal trial for Ryoncil® in adults with severe SR-aGvHD, potentially expanding its market reach. The company holds a strong cash position and is exploring additional funding options to support its operations and growth.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$3.11 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
JPMorgan Chase & Co. and its affiliates have ceased to be substantial holders in Mesoblast Limited, a company involved in the development of regenerative medicine products. The change in their substantial holding status is due to various transactions involving securities lending, purchasing, and sales, as well as the rehypothecation of client securities. This shift in holdings may impact Mesoblast’s market perception and investor confidence, as JPMorgan’s involvement was significant in terms of voting securities.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$3.11 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited announced the cessation of certain securities, with 120,000 options lapsing due to unmet conditions and over 2 million options expiring without exercise. This development may impact the company’s financial strategy and investor relations, as it reflects on the company’s ability to meet certain operational milestones.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$3.11 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.
Mesoblast Limited announced the application for the quotation of 3,000,000 ordinary fully paid securities on the Australian Securities Exchange (ASX). These securities are issued under an employee incentive scheme and are not subject to transfer restrictions. This move is part of Mesoblast’s strategy to enhance its market presence and incentivize its workforce, potentially impacting its operational dynamics and stakeholder engagement positively.
The most recent analyst rating on (AU:MSB) stock is a Buy with a A$3.11 price target. To see the full list of analyst forecasts on Mesoblast Limited stock, see the AU:MSB Stock Forecast page.