Mesoblast (ASX:MSB) reports a net loss US$45.3 million for nine months

Company News

by Rachael Jones

Mesoblast (ASX:MSB) the company that develops cellular medicines for inflammatory diseases, has reported a net loss of $US45.3 million in the nine months to the end of March.

This a 34 per cent reduction compared with US$69.1 million in the same corresponding period is driven by a 113 per cent increase in total revenues and 15 per cent decrease in research and development spend.

They will continue with trials for Remestemcel-L for the treatment of COVID-19.

During the period March-April 2020, 12 ventilator-dependent patients with moderate/severe COVID-19 ARDS were treated with two infusions of remestemcel-L.

Nine patients successfully came off ventilator support at a median of 10 days and were discharged from hospital.

Shares in Mesoblast (ASX:MSB), are trading 4.43 per cent higher at $4.01.