Mesoblast Posts Cash Balance of Over $51 Million in Fiscal Q1

MT Newswires Live11-01

Biotechnology company Mesoblast (ASX:MSB) said its cash balance as of Sept. 30 stood at $51.1 million, with a further $60 million available from existing financing facilities on the approval of Ryoncil, a treatment candidate for children with steroid-refractory acute graft-versus-host disease, according to a Thursday filing with the Australian Securities Exchange.

The fiscal first quarter saw a net operating cash spend of $10.5 million, a 26% reduction from the same period last year, the filing said.

In the September quarter, the company filed a biologics license application with the US Food and Drug Administration for Ryoncil and expects a decision on or before Jan. 7, 2025, according to the filing.

Shares fell nearly 2% in morning trade Friday.

Price (AUD): $1.30, Change: $-0.03, Percent Change: -1.89%

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