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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.