Mesoblast Limited (ASX:MSB; Nasdaq:MESO), a global leader in allogeneic cellular medicines for inflammatory diseases, has reported a 60% increase in gross revenue from Ryoncil sales for the quarter ended December 31, 2025. Sales reached US$35.1 million, up from the previous quarter ended September 30, 2025. This growth reflects increasing demand for the company’s flagship product.
Ryoncil (remestemcel-L-rknd) is the first mesenchymal stromal cell (MSC) product approved by the U.S. Food and Drug Administration (FDA) for any indication. It is currently the only FDA-approved treatment for children under 12 with steroid-refractory acute graft-versus-host disease (SR-aGvHD). Mesoblast is now planning a pivotal trial to evaluate Ryoncil as a second-line treatment for adults with SR-aGvHD, a market the company notes is approximately three times larger than the paediatric market.
The revenue increase has further strengthened Mesoblast’s financial position. The company recently secured a US$125 million financing facility with its largest shareholder. This has substantially lowered the company’s cost of capital and freed up its major assets to provide flexibility for strategic partnerships and commercialisation opportunities. The new facility allowed Mesoblast to repay its prior senior secured loan in full.
Dr. Silviu Itescu, Mesoblast Chief Executive, stated that the strong balance sheet, continued sales growth of Ryoncil, and the new lower-cost financing facility provide greater flexibility for strategic partnerships and the pursuit of label expansion for Ryoncil.
