Mesoblast Limited
(ASX:MSB) today reported first quarter results for the three months ended 30 September 2015.
Loss after income tax was reduced by 15 per cent to $13.2 million for the quarter, compared to a loss of $15.5 million in the prior corresponding period.
At 30 September, the company has cash reserves of $77.8 million, which was further augmented by $63.5 million in net proceeds raised in November.
The company says it now has sufficient runway to deliver on important inflexion points on its heart failure, back pain and rheumatoid arthritis programs.
Mesoblast reported a net loss of $119.37 million at 30 June 2015.
