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Why Mesoblast's Stock Is Trading Higher Today

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Why Mesoblast's Stock Is Trading Higher Today

Mesoblast (NASDAQ: MESO) shares are trading higher on Monday after company's Remestemcel-L received a compassionate use designation for children with multisystem inflammatory syndrome associated with COVID-19.

Mesoblast is a small-cap biotech company with listings on both the ASX and the Nasdaq. The company has acquired the rights to develop and commercialize certain regenerative medicine technologies aimed at innovative ways of treating inflammatory diseases.

Of their product pipeline, three product candidates are currently in phase three trials, with the first drug in the FDA approval application process and a possible U.S. launch date in early fiscal 2021.

The company has sold the rights to develop and commercialize some of its technologies in Japan, Europe and China from which it earns milestone and ongoing licence revenues once the products are marketed. Mesoblast is currently in the R&D phase and is loss-making.

Mesoblast shares were trading up 9.55% at $13.19 on Monday. The stock has a 52-week high of $20.57 and a 52-week low of $3.12.

 

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