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.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.