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Mesoblast
(NASDAQ:MESO)
Mesoblast (MESO) vs. SPDR S&P 500 ETF (SPY)
Mesoblast Business Overview & Revenue Model
Mesoblast Earnings Call Summary
Mesoblast Financial Statement Overview
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 17.20M | 5.90M | 7.50M | 10.21M | 7.46M |
| Gross Profit | 12.07M | -35.17M | -47.42M | -53.36M | -78.28M |
| EBITDA | -73.66M | -56.08M | -58.55M | -76.57M | -84.65M |
| Net Income | -102.14M | -87.96M | -81.89M | -91.35M | -98.81M |
Balance Sheet | |||||
| Total Assets | 784.68M | 669.15M | 669.41M | 662.14M | 744.72M |
| Cash, Cash Equivalents and Short-Term Investments | 161.16M | 62.56M | 70.92M | 60.03M | 136.88M |
| Total Debt | 128.16M | 118.92M | 116.50M | 106.91M | 105.50M |
| Total Liabilities | 187.24M | 188.80M | 167.58M | 165.10M | 163.32M |
| Stockholders Equity | 597.44M | 480.36M | 501.84M | 497.04M | 581.40M |
Cash Flow | |||||
| Free Cash Flow | -50.68M | -48.79M | -63.58M | -66.01M | -108.33M |
| Operating Cash Flow | -49.95M | -48.46M | -63.27M | -65.78M | -106.68M |
| Investing Cash Flow | 120.00K | -97.00K | -194.00K | -232.00K | -1.65M |
| Financing Cash Flow | 147.34M | 40.25M | 74.50M | -9.87M | 114.47M |
Mesoblast Technical Analysis
Mesoblast Risk Analysis
Mesoblast Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $1.65B | 10.54 | 20.75% | ― | 21.13% | 50.86% | |
53 Neutral | $2.05B | -18.74 | -18.96% | ― | 191.53% | 5.09% | |
53 Neutral | $1.64B | -45.59 | -9.59% | ― | 27.51% | 38.72% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $1.76B | ― | -63.17% | ― | 47.15% | -311.26% | |
50 Neutral | $2.47B | -40.18 | -28.23% | ― | 42.57% | 60.03% | |
49 Neutral | $6.31B | -15.18 | -73.70% | ― | ― | 4.32% |
Mesoblast Corporate Events
On February 20, 2026, Mesoblast announced it will host a webcast to review operational highlights and financial results for the half year ended December 31, 2025. The event is scheduled for February 26–27, 2026, depending on time zone, and an archived version will later be available on the company’s investor website, providing shareholders and analysts with updated insight into its performance and development pipeline.
The update comes as Mesoblast advances its FDA-approved Ryoncil therapy and develops further indications for remestemcel-L and rexlemestrocel-L, supported by extensive global intellectual property protection extending to at least 2044. The webcast underscores the company’s efforts to communicate progress in scaling its industrialized manufacturing, expanding partnerships in Japan, Europe and China, and strengthening its position in the competitive cell therapy market.
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.
On February 11–12, 2026, Mesoblast reported new real-world and clinical data on its FDA-approved mesenchymal stromal cell therapy Ryoncil, presented at the 2026 Tandem Meetings of ASTCT and CIBMTR. The data showed similarly high survival in steroid-refractory acute graft-versus-host disease across children and adults, second- and third-line use, and both ruxolitinib-naive and resistant patients.
Among 53 patients treated with Ryoncil as at least third-line therapy under an Emergency IND program, 15% died before completing a full course, versus only 2% in a prior Phase 3 trial where the drug was used second-line, underscoring the benefit of earlier intervention. Mesoblast said adult EIND patients achieved day-100 survival at least comparable to pediatric patients, bolstering its plan to start a pivotal trial this quarter of early second-line Ryoncil in adults with severe steroid-refractory GVHD, aimed at securing a label extension into an adult market roughly three times larger than the pediatric segment.
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.
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.
On January 26–27, 2026, Mesoblast reported early real‑world commercial experience for its FDA‑approved pediatric SR‑aGvHD therapy Ryoncil, showing that 21 of the first 25 treated children (84%) were alive after completing the initial 28‑day treatment course since the product’s U.S. launch in March 2025. Management highlighted that the four patients who died had failed other therapies before starting Ryoncil and did not complete the full 28‑day regimen, underscoring the company’s push for earlier referral and initiation of treatment, supported by its MyMesoblast access hub, onboarding of 45 of a targeted 64 U.S. transplant centers, and broad public and private payer coverage including a dedicated CMS J‑Code granted in October 2025. These developments bolster Mesoblast’s commercial foothold in pediatric SR‑aGvHD and lay the groundwork for label expansion into a significantly larger adult SR‑aGvHD market, where a pivotal trial with the NIH‑funded Bone Marrow Transplant Clinical Trials Network is slated to begin site enrollment this quarter, potentially strengthening the company’s position in the emerging cell‑therapy segment for inflammatory diseases.
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.
On January 18–19, 2026, Mesoblast reported that the U.S. Food and Drug Administration has acknowledged Phase 3 data showing that its allogeneic cell therapy rexlemestrocel-L appears to provide superior pain intensity reduction versus placebo in chronic discogenic low back pain through 12 months, and that such a clinically meaningful 12‑month pain reduction can support product efficacy for a potential Biologics License Application. The agency also indicated that robust evidence of reduced or eliminated opioid use from Mesoblast’s first Phase 3 trial could be reflected in product labeling’s Clinical Studies section, bolstering the therapy’s potential positioning as a non-opioid option in a market heavily shaped by the U.S. opioid crisis. A second 300‑patient confirmatory Phase 3 study in chronic low back pain due to inflammatory degenerative disc disease is now more than half enrolled across 40 U.S. sites and expected to complete enrollment within about three months, positioning Mesoblast to advance toward a filing under its existing Regenerative Medicine Advanced Therapy designation and potentially strengthen its foothold in the emerging field of regenerative, non‑opioid pain treatments.
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.
On January 15, 2026, Mesoblast Limited reported to the ASX that a total of 1,450,333 unquoted options (ASX code MSBAI), exercisable at various prices and expiring on various dates, ceased during late 2025, primarily due to the lapse of conditional rights that could no longer be satisfied and the expiry of options without exercise on November 29, 2025 and December 19, 2025. Following these cessations, Mesoblast’s issued capital now comprises 1,290,302,187 ordinary fully paid shares on issue and a reduced pool of 79,812,236 remaining unquoted MSBAI options, alongside multiple series of unquoted warrants, signalling a modest simplification and tightening of its equity incentive and derivative securities overhang without any consideration paid for the lapsed instruments.
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.
On January 13, 2026, Mesoblast Limited reported to the Australian Securities Exchange that 6,856,460 unquoted options and other convertible securities were exercised or converted into ordinary fully paid shares, with exercises taking place between October 1, 2025 and January 9, 2026. The conversion, which included 1,280,651 options held by key management personnel Eric Rose and a larger number of options issued between 2018 and 2024 to non-KMP holders, increased Mesoblast’s quoted share capital to 1,282,967,187 ordinary shares and left more than 81 million unquoted options outstanding, modestly diluting existing shareholders while signaling ongoing use of equity-based incentives across the company’s leadership and broader employee base.
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.
On January 6, 2026, Mesoblast Limited reported to the Australian Securities Exchange that 3,000,000 unquoted “Warrants 3” (ASX code MSBAB) had lapsed after the conditions attached to these securities were not, or could no longer be, satisfied, resulting in their cessation without any consideration paid. Following this lapse, Mesoblast confirmed that its issued capital comprised approximately 1.28 billion ordinary fully paid shares and a range of remaining unquoted options and warrants, signalling a modest simplification of its capital structure but no immediate change to its ordinary share count or cash position for existing shareholders.
The most recent analyst rating on (MESO) stock is a Hold with a $17.50 price target. To see the full list of analyst forecasts on Mesoblast stock, see the MESO Stock Forecast page.
On December 17, 2025, Mesoblast Limited reported to the U.S. Securities and Exchange Commission that it had lodged an Appendix 3G with the Australian Securities Exchange, confirming the issue of 5 million unquoted warrants as part of a previously announced placement-linked financing. The new warrants, designated as a new class (Warrants 3) exercisable at A$2.50 per share and expiring on December 17, 2029, were issued as a commitment fee for access to a convertible note facility of up to US$50 million, which the company may draw on following shareholder approval at its 2025 AGM. Each warrant converts into one ordinary share, or in the case of American Depositary Receipts, 10 warrants convert into one ADR at an exercise price of US$16.25 per ADR, with 3 million of the warrants vesting only if Mesoblast exercises its option under the note facility. The issuance modestly increases Mesoblast’s unquoted securities and underscores its ongoing reliance on structured financing to support operations, with potential future dilution for shareholders if the warrants are exercised.
The most recent analyst rating on (MESO) stock is a Hold with a $17.50 price target. To see the full list of analyst forecasts on Mesoblast stock, see the MESO Stock Forecast page.