Mesoblast Limited
The share price of Mesoblast Limited (ASX: MSB) edged up by around 46% in the past one month and 65.5% in the last six months. The recent MSB stock movement suggests that $10,000 investment in its shares one month back would now have been $14,600. The significant popularity of MSB shares is riding on the back of its latest endeavours in Covid-19 vaccine development. Significantly, MSB stock closed at $4.910 per share on 17 August 2020, up by over 4.468% intraday.
In the latest update, Mesoblast indicated Oncologic Drugs Advisory Committee (ODAC) of the United States Food and Drug Administration (FDA) voted in great majority in favour of Remestemcel-L (RYONCIL™) for its efficacy in pediatric patients with Steroid-refractory Acute Graft Versus Host disease.
The Company’s lead product candidate, RYONCIL (remestemcel-L), is an investigational therapy, which comprises of culture-expanded mesenchymal stem cells that are derived from an unrelated donor’s bone marrow and administered in a series of infusions.
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RYONCIL - down-regulates pro-inflammatory cytokines production, increases anti-inflammatory cytokines production and enables recruitment of naturally occurring anti-inflammatory cells to involved tissues. RYONCIL believed to have immunomodulatory properties and uses the above process to counteracts the inflammatory processes that are implicated in steroid-refractory acute graft versus host disease.
The outlook for Mesoblast includes:
- Biologics License application of Mesoblast seeking the approval for its product candidate RYONCIL™ for steroid-refractory acute graft versus host disease in children has been accepted for priority review by FDA. If approved, the product is expected to be launch in the US in 2020.
- Remestemcel-L for other inflammatory diseases in children and adults is also being developed by the Company and includes moderate to severe acute respiratory distress syndrome.
- Mesoblast is completing phase 3 trials for its product candidates for advanced heart failure and chronic low back pain.