Mesoblast (ASX:MSB) shares soar on FDA approval

Company News

by Rachael Jones

Mesoblast (ASX:MSB) today announced that the United States Food and Drug Administration (FDA) has granted Fast Track designation for remestemcel-L in the treatment of acute respiratory distress syndrome (ARDS) due to Covid-19 infection..

Fast Track designation is granted if a therapy demonstrates the potential to address unmet medical needs for a serious or life-threatening disease.

ARDS is the primary cause of death in patients with Covid-19.

Shares in Mesoblast (ASX:MSB) are trading 0.3 per cent lower at $20.23.