Why Mesoblast Shares Are Falling

Mesoblast Limited MESO shares are trading lower after the company was notified by Novartis that it has chosen to terminate the agreement with Mesoblast prior to closing.

Mesoblast said the company remains highly focused on executing on their short term objective to bring remestemcel-L to market for patients with acute respiratory distress syndrome (ARDS) due to COVID-19.

See Also: Why Purple Innovation Shares Are Falling

Mesoblast is a clinical-stage biotechnology company. It develops and commercializes innovative allogeneic cellular medicines to treat complex diseases resistant to the conventional standard of care.

Mesoblast has a 52-week high of $17.20 and a 52-week low of $4.44.