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.